softrax-company-news

 - 2021 -

Innovation and Connection Online: SOFTRAX to Participate in CONNECT CFO Leadership Summit

July 2021 - Continuing our focus on forward-thinking financial leadership and digital transformation in the back office, SOFTRAX will exhibit at the CONNECT CFO Virtual Summit, in July 2021. This event is a digital, invitation-only summit for Finance executives, bridging leaders and strategists to the most efficient solutions and information in today's financial landscape. Read more here.


SOFTRAX to Sponsor the 11th Annual CFO Leadership Conference

June 2021 - In the Summer of 2020, Park Place Technologies (“Park Place”) went live on SOFTRAX Revenue Manager, replacing their previous revenue recognition system. This system, like many on the market today, while automated, required manual intervention on a contract-by-contract basis to ensure the proper revenue recognition treatments were applied. Like many systems the effort to ‘set the contract up’ for revenue recognition was on the order of anywhere between 20-30
minutes per contract. You can read the full case study here.


New SOFTRAX Case Study: Park Place Technologies

June 2021 - Presented by the CFO Leadership Council, the theme of this year's conference is "A New Hope." CFOs have found themselves entering this year's changed business environment as strategists, innovators, and informed capital allocators. The CFO Leadership Conference seeks to empower CFOs to lead their organizations to continued success, taking advantage of the new ways we are all working. You can read a related blog post by SOFTRAX's Tom Zauli here.


Free SOFTRAX Webinar: Recurring Revenue

May 2021 - SOFTRAX was joined by Aria Systems to explore key trends in subscriptions & usage based business models, how businesses transformed and pivoted during the past year then again into the recovery, and how changes to customer lifecycle necessitate changes to handling revenue recognition. A free webinar replay is available here, and a list of all our past and future webinar offerings can be found here.


New SOFTRAX Case Study: AEG

May 2021 - The impact of the new revenue recognition accounting standard, ASC 606 / IFRS 15 has been felt far and wide. Late in 2018, the Anschutz Entertainment Group (AEG) began searching for a cloud software solution to implement and execute the new ASC 606 requirements for its sponsorship advertising revenue recognition, which as a result had greatly increased in complexity. You can read the full case study, including the challenges and how SOFTRAX has helped, here.


Free SOFTRAX Webinar: Internet of Things

April 2021 - SOFTRAX is thrilled to be joined once again by Kyle Britto of CFGI to discuss the impact of the Internet of Things on the modern back office, and with regards to ASC 606 guidance. A free webinar replay is available here, and a list of all our past and future webinar offerings can be found here.


New SOFTRAX Case Study: 3M Health Information Systems

March 2021 - 3M Health Information Systems (3M HIS), a division of 3M Company, is a leader in clinician, revenue cycle and performance management technology and services for the healthcare industry. With SOFTRAX’s flexibility, 3M HIS was able to quickly integrate the acquisitions for billing and revenue processing, and the 3M HIS billing and revenue processing kept pace. You can read the case study here.


Free SOFTRAX Webinar: Preparing to Report on ASC 606

March 2021 - SOFTRAX is joined by an all-star panel; Jeff Duncan, Michael George, and Robert Casey of Aprio. In this webinar, the panel discussed ASC 606 implementation for private companies, and a few practical considerations that financial innovators need to keep in mind. A free webinar replay is available here, and a list of all our past and future webinar offerings can be found here.


Free SOFTRAX Webinar: Automating Services Organizations

February 2021 - Tom Zauli, of SOFTRAX, is joined by Greg Davidson, of Changepoint, to discuss the benefits that finance leaders and line of business executives can gain by automating their revenue recognition and integrating  their revenue automation and services delivery software on Thursday, February 25th at 1 p.m. EST. You can watch a free webinar replay here.


SOFTRAX Selected as Top Revenue Management Solution Provider: January 2021

January 2021 - SOFTRAX is excited to announce that we have been named a top revenue management solution provider by the CFO Tech Outlook. The feature comes in the publication's special edition on Revenue Management, and features several strong testimonials for our Revenue Manager solution.  You can view the article for free here.


New SOFTRAX Case Study: Epicor

January 2021 - At roughly $1 billion in revenue, Epicor Software Corporation is one of the world’s leading providers of industry-specific business software that gathers, stores, manages, and shares information for customers in manufacturing, distribution, retail, building supply, and automotive organizations. Epicor chose to partner with SOFTRAX in July of 2012 and hasn’t looked back since. Epicor leverages SOFTRAX solutions to help manage the renewal and billing of its maintenance contracts, the billing of its subscription fees, and the recognition of revenue for these billings. You can read the full case study here.


 - 2020 -

SOFTRAX to Participate in Accounting Tech Innovation Summit

During this two-day free virtual event you will hear from accounting and finance thought leaders from AICPA, FASB, GASB, and Goldman Sachs in addition to tech industry leaders (including SOFTRAX's Steve Kovac) as they take a deep dive into the ever-changing world of accounting.

In each session, speakers will provide insight into relevant accounting topics, including recent standard changes, and give actionable advice on how you can leverage technology to minimize the impact now and in the future.

This free conference is pertinent to both accounting and finance professionals. Please register today to join us!


Free SOFTRAX Webinar in collaboration with experts from EY

SOFTRAX frequently sponsors free webinars to discuss all things revenue recognition related. For our latest webinar, Disclosure Requirements Under ASC 606, we were joined by Melanie Cook and Jeff Yancey of EY as they gave their thoughts on the complexities of the guidance, the pitfalls they frequently see companies encounter, and ways to solve the challenges that ASC 606 brings.

You can view a free replay of the August 2020 webcast here, along with our whole library of video content.


Ascend Learning Chooses SOFTRAX Revenue Manager

Boston, MA – SOFTRAX is proud to announce that Ascend Learning (https://www.ascendlearning.com) has selected SOFTRAX Revenue Manager to automate its complex revenue recognition.

Ascend Learning is a national leader in data driven, online educational solutions for learners, educators and employers in high-growth, licensure-driven professions spanning healthcare, fitness and wellness, skilled trades, insurance and financial services.

“The acquisition of SOFTRAX Revenue Manager is demonstrative of Ascend Learning’s commitment to the highest level of security, controls, and compliance. We very much look forward to growing our partnership with them.”, says Tom Zauli, General Manager of SOFTRAX.

Based in Canton, MA, SOFTRAX helps enterprise-level companies automate complex billing and revenue recognition processes with innovative and easy to implement software solutions. SOFTRAX solutions fundamentally change the way companies manage, analyze, report, and forecast their revenue. SOFTRAX is a wholly owned subsidiary of AFS Technologies, Inc.


SOFTRAX to Participate in the CFO Leadership Council Masterclass Academy

Survive Then Thrive In This New Reality! CFOLC Announces The CFO Academy.

The CFO Masterclass Academy will be a series of ask the expert virtual roundtables regarding defined topics to help CFOs come out of Covid-19 ahead. Tom Zauli, of SOFTRAX, is excited to participate as a thought leader in a session regarding contract modifications in the context of ASC 606.

For more information, please see the CFO Leadership Council's website.


Relaunch of the SOFTRAX Blog

SOFTRAX is proud to announce the re-launch of the SOFTRAX Blog. We are excited to continue to provide the most up-to-date news and advice regarding all things revenue recognition.


 - 2019 - 


SOFTRAX and Chargebee Join Forces to Provide Out-of-the-Box Subscription Billing and Revenue Recognition

Softrax, an industry leader in revenue management software announced a partnership with Chargebee, an emerging leader in SaaS subscription management and recurring billing solutions. Through the partnership, clients now have access to Softrax’s Revenue Manager solution for revenue recognition under ASC 605, 606 and IFRS 15 as well as Chargebee’s market-leading subscription billing solution.  


Recorded Books Automates its Financial Systems with SOFTRAX Revenue Manager

 

The revenue recognition specialists at SOFTRAX are pleased to announce that Recorded Books has joined the growing number of businesses using the powerful revenue recognition and automation capabilities of SOFTRAX Revenue Manager to augment their existing ERP and financial platforms in support of ASC 606 and IFRS 15.


- 2018 - 


 SOFTRAX Announces New Web Portal To Help Business Understand ASC 606 and IFRS 15 Regulations

Revenue Recognition Automation Software Will Rapidly Pave the Way for Back Office Success. Softrax, a division of AFS Technologies, the leading revenue recognition software company today announced the launch of an invaluable resource for business accounting specialists making the transition to ASC 606 and IRFS 15 compliance. The regulations that went into effect in January of this year require accounting departments to take action for upcoming filings in respect to the way they recognize revenue.


SOFTRAX announces the Next Level of ASC 606 and IFRS 15 Automation with Revenue Manager 5.1

Softrax, a division of AFS Technologies, and the leader in revenue recognition automation solutions, today announced the upcoming release of Version 5.1 of its Revenue Manager solution. Revenue Manager serves businesses by automating revenue recognition under current and future guidance, including ASC 605, ASC 606 and IFRS 15. Softrax solutions seamlessly augment ERP and financial systems to support existing and coming revenue guidance, reduce operating expenses, and gain unprecedented visibility into business performance. 


- 2017 - 


Softrax Releases enhanced software to help identify financing component under new revenue recognition rules - ASC 606 & IFRS 15

SOFTRAX, the world's leading provider of revenue recognition software, today announced significantly enhanced support for managing ASC 606 guidance related to the newly introduced “Significant Financing Component” concept. This enhancement enables clients to manage complex reporting of the Time Value of Money (TVM) pursuant to the guidance.   The functionality will be generally available in May of 2017.


SOFTRAX to Sponsor ASC 606 Seminar in Boston

SOFTRAX is pleased to announce they will be presenting sponsor of an ASC 606 Software and Cloud Industries Seminar, to be held on May 18th-19th, 2017.  The revenue recognition seminar will bring together an intimate group of accounting professionals for a two-day session to discuss the new revenue recognition guidance, best-practices, and strategies for successful adoption.  The discussion led by revenue recognition expert, Tony Sondhi, will answer pressing questions and offer practical solutions for the successful implementation of the new guidance.


Softrax Announced as Sponsor of The Forty-Third Annual Meonske Professional Development Conference

Softrax, the industry leader in revenue recognition software and developer of Revenue Manager, is pleased to announce it will be sponsoring and exhibiting at this years 43rd Annual Meonske Professional Development Conference on April 26th-28th at Kent State University in Ohio.


Softrax Releases Enhanced ASC 606 Significant Financing Component (Time Value of Money) Support

SOFTRAX, the world's leading provider of revenue recognition software, today announced significantly enhanced support for managing ASC 606 guidance related to the newly introduced “Significant Financing Component” concept. This enhancement enables clients to manage complex reporting of the Time Value of Money (TVM) pursuant to the guidance.
Softrax Unveils its Redesigned Website

Softrax has launched a redesign of their website, www.softrax.com.  The  site now features a cleaner and more contemporary design.  The redesign includes aesthetic enhancements to provide a more engaging user experience and enhanced navigation to help our visitors easily find the information they need. 


- 2016 -

Softrax Sponsors Tony Sondhi's ASC 606 Cloud and Software Seminar

Softrax will be sponsoring A.C. Sondhi & Associates 2016 ASC 606 seminar.  Spread across two days, the ASC 606 conference will be held at the Hilton Hotel in downtown Boston on August 25th and 26th.   The event includes various sessions on the changes to the new recognition, measurement, presentation and disclosure of revenue from contracts with customers.   


Softrax Attends Panel Discussion at Revenue Recognition Accounting Update 2016

 Softrax is appearing on a panel discussion at the Revenue Recognition Accounting Update 2016 conference.  The ACS Live conference is being held June 20th-21st in San Jose, California. Revenue Recognition conference is designed to address the latest developments in key areas of ASC 606, significant changes, scope, disclosure and impacts.  Attendees include controllers, accounting directors, revenue managers, and more. 


 Softrax Sponsors Revenue Recognition Conference for Private Companies

Softrax, leading revenue recognition automation software is transforming the way revenue is managed, announced it will be sponsoring ACS live conference. The ACS Live Accounting for Private Companies conference will be held at the Hyatt in Santa Clara on May 23-24th.  


Softrax Attends Revenue Recognition Conference in Bay Area

Softrax today announced that its west coast team will be attending ACS Live revenue recognition conference for second time this year.  ACS Live conference will be held on May 18-19 at the Dolce Hayes Mansion in San Jose, CA.   


Softrax Attends Microsoft Envision 2016

Softrax, a worldwide leader in revenue automation software, will attend Microsoft’s flagship event Microsoft Envision on April 4th-5th in New Orleans, LA.


Softrax Hires New Leader on West Coast

Softrax, leading provider of revenue management software, announced it has hired Jeff Halden to lead its Solution Advisory practice for the West Coast. Jeff brings over 25 years of accounting, consulting and business development experience, including many years focused on the design and implementation of financial products.


Vindicia Partnership Makes Revenue Recognition Easier for Businessses with Subscription Products

Vindicia, the leader in enterprise-class subscription billing, today announced a partnership with Softrax, a leading provider of enterprise revenue management and billing software solutions that fundamentally change the way companies manage, analyze, report, and forecast their revenue. The partnership will help organizations reduce operating expenses, comply with revenue recognition regulations, and gain unprecedented visibility into subscription and recurring revenue business performance. 


- 2015 - 

 Softrax Announces New Marketing Manager

Softrax a leading provider of revenue automation, recently announced that Julia Cain has joined the companies marketing team as marketing manager. Julia will be responsible for conceiving and executing marketing strategies and tactics that drive growth. In addition, she will help overall brand development and messaging in the marketplace. Softrax is looking to expand its marketing efforts and provide a stronger presence across the United States.


Softrax Strengthens West Coast Commitment

Softrax is pleased to announce expansion to its west coast business via the hire of Jon Burke.  Jon brings nearly 11 years of software sales experience, including sales of financial products to this role. Softrax is rapidly growing its client base in the West and is strengthening its presence in that region to gain broader reach.


Softrax & HAW Present: ASC 606 - Preparing for The New Revenue Standards

Softrax is pleased to announce expansion to its west coast business via the hire of Jon Burke.  Jon brings nearly 11 years of software sales experience, including sales of financial products to this role. Softrax is rapidly growing its client base in the West and is strengthening its presence in that region to gain broader reach.


Softrax Expands Partnership with Accounting Expert Tony Sondhi

Enterprise revenue recognition specialists SOFTRAX announce an expansion of their ongoing partnership with FASB Emerging Issues Task Force (EITF) member Ashwinpaul “Tony” Sondhi, regarded as one of the leading authorities on US and international revenue recognition and financial reporting issues.


Emmi Solutions Chooses Softrax Enterprise to Support its Thriving Business

Revenue recognition specialists SOFTRAX are pleased to announce that Emmi Solutions, the leader in outcomes-driven patient engagement, has selected SOFTRAX Enterprise to manage billing for its rapidly growing subscriber base. Emmi joins hundreds of companies who have used SOFTRAX solutions to improve their order, billing, and revenue management processes.


Softrax Announces Latest Release of its Revenue Management Platform

Revenue specialists SOFTRAX today announced the immediate availability of SOFTRAX Enterprise 2015, the latest version of their flagship revenue management platform.


Softrax & HAW Help Prepare Your Business for ASC 606

Though implementation of FASB’s new revenue recognition standards will be deferred a year, businesses should not underestimate the time or effort required to bring their systems and processes into compliance. On September 17th, join leading accountancy firm Habif Arogeti & Wynne and the revenue recognition experts at SOFTRAX in a free webinar as we discuss how to get your business ready for the new guidance.


SOFTRAX Announces 2015 User Forum

SOFTRAX announces a date and venue for its annual user forum, which brings together SOFTRAX users and senior leadership for communication and collaboration around recent product updates, roadmaps, user tips, industry trends, and more.


SOFTRAX Sponsors Monetize 2015

SOFTRAX joins leading players in the recurring revenue space in sponsoring Monetize 2015, Aria Systems' inaugural global conference on recurring revenue. Monetize takes place from March 31st to April 1st, 2015 in San Francisco, California. 


SOFTRAX to Exhibit at Convergence 2015

SOFTRAX will be exhibiting its Microsoft Dynamics-compatible revenue recognition products at the upcoming Convergence 2015 show in Atlanta, Georgia from March 16th to 19th, 2015. Join us at Booth #668 to learn more about how SOFTRAX products can take your Dynamics deployments to the next level. 


Mastering the Opportunities and Challenges of IoT and Other Recurring Revenue Business Models - A Webinar

The rise of recurring revenue business models and the Internet of Things (IoT) is transforming a wide range of industries, creating new opportunities for customer engagement and revenue growth. However, with dramatic regulatory change (ASC 606), and more companies adding software and subscription-based software as service (SaaS) components to their existing product mix, it’s critical for businesses to fully understand both the advantages and back-office impact of these offerings.


SOFTRAX and Aria Systems Present: Monetizing the Internet of Things - Hidden Opportunities and Challenges

More than another buzzword, the growing popularity of IoT offerings threatens to reshape entire industries. Join leading analyst Andrew Dailey of MGI Research and experts from Aria Systems and SOFTRAX to go beyond the hype and hear how finance and business leaders can fully monetize its revenue potential.


- 2014 -


SOFTRAX Announces Appointment of Mark Shane as Director of Development

Enterprise revenue recognition specialists SOFTRAX today announced the appointment of software development veteran Mark Shane as the company’s new Director of Development. In this role, he will be overseeing ongoing research and development efforts for the company’s portfolio of revenue management products.  


Textura Enhances its ERP Platform with SOFTRAX Revenue Manager 3

Revenue recognition specialists SOFTRAX are pleased to announce that Textura Corporation (NYSE: TXTR), the leading provider of collaboration solutions for the construction industry, is joining the growing number of businesses using SOFTRAX Revenue Manager to augment existing ERP and other financial platforms.


SOFTRAX Revenue Manager Supports Businesses Preparing for New Revenue Recognition Guidance

Pioneering revenue recognition specialists SOFTRAX today announced that Revenue Manager, their market-leading revenue automation solution, will be prepared to support businesses adopting new guidance finalized by the Financial Accounting Standards Board (FASB) and International Accounting Standard Board (IASB) earlier this year.


SOFTRAX and MetraTech Present: Billing and Revenue Recognition Challenges for Recurring Revenue Businesses - A Webinar

Looking for a better understanding of how a move to subscriptions creates billing and revenue recognition challenges for your business? Join SOFTRAX, MetraTech, and accounting expert Tony Sondhi on 5/13 for a free one-hour webinar looking at the billing and revenue recognition challenges created by recurring revenue. CPE credit will be offered.


SOFTRAX Sponsors Altico Advisors Spring Summit

We're pleased to be joining other leading Microsoft Dynamics and NetSuite solution providers at the Altico Advisors Spring Summit in Framingham, Massachusetts on May 7th. Stop by our booth and learn more about how SOFTRAX can help take your systems' revenue recognition capabilities to the next level!


MetraTech and SOFTRAX Partner to Provide Integrated Billing and Revenue Management Solutions for Today’s Recurring Revenue Challenges

Enterprise revenue recognition specialist SOFTRAX and MetraTech Corp., the leading global provider of Agreements-Based Billing™ (ABB), commerce and settlement solutions, today announced a partnership to collaborate on billing and revenue management solutions for both traditional transactional and recurring revenue models.


Aria Systems and SOFTRAX Partner to Prepare Existing ERP Solutions to Support the Subscription-Based Economy

Aria Systems, expert in cloud-based recurring revenue management, and revenue recognition specialists SOFTRAX today announced that they have formed a partnership to augment and extend the life of existing Enterprise Resource Planning (ERP) systems and prepare them for the emerging subscription-based economy. 


Specialized Revenue Management Leader SOFTRAX Surpasses 500th Customer Deployment 

SOFTRAX, revenue management specialists for the enterprise, announced today they have surpassed 500 successful customer deployments. Since its incorporation in 1999, SOFTRAX has helped hundreds of customers in sectors as diverse as software, healthcare, education, and information services address their most challenging revenue recognition and billing issues.

 

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