Business Intelligence and Analytics Software for Billing and Revenue Recognition

Revenue recognition management and billing analytics hold the keys to monetization, new business opportunities, and clarity about a company’s bottom line. The SOFTRAX Revenue Management System (RMS) is the only solution offering support for both complex billing and sophisticated revenue recognition in a single, cloud-based platform. SOFTRAX RMS provides an intricate level of insight into all billing and revenue recognition functions, and, more importantly, offers transparency between the two.

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User-Friendly Data Management

SOFTRAX RMS provides this billing and revenue recognition awareness through a sophisticated analytics engine and business intelligence tools with drill-down functionality. With SOFRAX RMS, companies gain an easy means of reconciliation from orders to  billing to revenue recognition, all managed in a single system. The analytics and business intelligence functions  offer customized reporting capabilities, feature-rich dashboards, and the ability to view aggregated customer and product-centric revenue streams. SOFTRAX RMS reports on metrics including net dollar retention, and everything that contributes to it, in addition to analysis on contract modifications and combinations, revaluation of variable consideration, materials rights, and significant finance components.

The Benefits of the Right Analytics


Advanced Revenue and Billing Data

SOFTRAX RMS provides the real-time and historical data through analytics and BI tools for understanding of revenue, cost, margin, and earnings – past, current, and projected.

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Key Financials for Monetization

SOFTRAX RMS provides data analysis and data visualizations on reconciliations, key contracts and orders, any exception processing, projected renewals, and future revenue. The platform is known for its ease-of-use and an exceptional user experience.

Navigation of Contract Gaps

Gaps in contract renewals mean lost revenue. SOFTRAX RMS provides analytics on a contract that include state and history as well as all events, bills, modifications, reallocations, fulfillment events, etc. that have occurred since inception. This level of data mining helps with decision-making for both business users and IT users alike.

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Customization of Key Analytics Data

SOFTRAX RMS has a state-of-the-art reporting engine supporting drag-and-drop construction and modification of reports, slice-and-dice filtering on the fly, interactive dashboards, and export to a variety of formats. The platform is centered on data preparation and for data-driven decisions.


Revenue Change Management

SOFTRAX RMS provides robust audit and control reports indicating any change to the stated revenue policy or any manual intervention in the revenue processing data. The platform uses a number of data sources, including apps, CRM, and ERP systems, to produce power BI, analytics, and actionable insights.

Historical Revenue Timelines

SOFTRAX RMS allows a timeline view of revenue, with a short term and long term aggregate roll forward at the contract or detailed contract level. This takes the data beyond what typical business analytics and analytics tools can do and offers a true revenue management business intelligence platform.


Business intelligence (BI) and analytics software are tools and systems that help organizations collect, integrate, analyze, and present business data for decision-making processes. With revenue management, including revenue recognition and billing, BI and analytics include a specialized category of tools designed to help companies manage and analyze revenue-related data to ensure compliance with accounting standards, particularly for the revenue recognition standard ASC 606 / IFRS 15.

Features for BI and analytics software for revenue management include:

Data Integration: These tools integrate data from various sources such as sales transactions, contracts, invoices, and financial systems to provide a comprehensive view of revenue-related information.

Revenue Recognition Automation: BI software can automate the process of applying revenue recognition rules and standards to transactions, aiding compliance with standards such as ASC 606 / IFRS 15. Revenue recognition automation includes handling complex scenarios such as multiple-element arrangements, variable consideration, and contract modifications.

Real-Time Monitoring: BI and analytics tools can enable real-time monitoring of revenue recognition metrics and KPIs, allowing organizations to track revenue performance, identify potential issues, and take corrective actions promptly.

Forecasting and Predictive Analytics: Advanced BI and analytics software may offer forecasting and predictive analytics capabilities to project future revenue streams using historical data and trends as a baseline.

Custom Reporting and Dashboards: These tools allow users to create and share reports, charts, and graphs that depict revenue data to allow teams better communication, cross-team data sharing, and decision-making.

Compliance and Audit Trail: BI and analytics software for revenue recognition often includes features for maintaining compliance with accounting standards and regulatory requirements. The tools may offer audit trail functionality to track changes to revenue data and ensure transparency in financial reporting.

By leveraging BI and analytics software tailored for revenue recognition, organizations can streamline their revenue management processes, improve accuracy and compliance, and gain deeper insights into their financial performance.

Business Intelligence (BI) and analytics play a crucial role in billing and revenue recognition processes because they provide the following information:

Insight into Revenue Performance: BI and analytics allow a view into a company’s revenue streams, including patterns, trends, and drivers of revenue growth or decline. By analyzing billing and revenue data, companies can identify opportunities to optimize pricing strategies, upsell or cross-sell products/services, and improve overall revenue generation.

Monitoring Key Metrics: BI and analytics enable organizations to monitor key billing and revenue recognition metrics in real-time or near-real-time. Metrics such as revenue by product/service, revenue by customer segment, billing cycle times, and revenue recognition compliance can be tracked to assess performance and identify areas for improvement.

Identification of Revenue Leakage: Organizations can use BI and analytics to identify potential revenue leakage or missed revenue opportunities, looking for discrepancies, uncollected revenue, or instances of revenue recognition errors. With this information, companies can take corrective actions to plug leaks and maximize revenue capture.

Compliance with Accounting Standards: BI and analytics play a critical role in ensuring compliance with accounting standards such as ASC 606 / IFRS 15 for revenue recognition. By analyzing revenue data against predefined recognition criteria, organizations can determine whether revenue is recognized accurately and in accordance with the appropriate accounting principles.

Revenue Forecasting and Planning: BI and analytics enable organizations to forecast future revenue streams based on historical billing and revenue data, market trends, and other relevant factors. Accurate revenue forecasting helps companies plan and allocate resources effectively, anticipate cash flows, and make informed strategic decisions.

Customer Insights: With BI and analytics, organizations can gather data on customer behavior, preferences, and buying patterns. By analyzing billing and revenue data in conjunction with customer demographics, purchase history, and interactions, organizations can better understand their customers’ needs and tailor offerings to maximize revenue and customer satisfaction.

Process Optimization: BI and analytics help identify inefficiencies and bottlenecks in billing and revenue recognition processes. By analyzing process data, organizations can streamline workflows, automate repetitive tasks, and improve overall process efficiency, leading to faster billing cycles, reduced errors, and lower operational costs.

Decision Support: BI and analytics provide decision-makers with data-driven insights to support strategic and operational decisions related to billing and revenue recognition. Whether pricing decisions, contract renewal points, revenue forecasting, or investment prioritization, BI and analytics empower decision-makers with the information they need to make informed choices that drive business growth and profitability.

Overall, BI and analytics are essential for billing and revenue recognition processes as it enables organizations to optimize revenue performance, ensure compliance, mitigate risks, and make data-driven decisions that drive business success.

Analytics for billing and revenue recognition can provide comprehensive insights to better management of revenue-related processes. Some key areas that analytics for billing and revenue recognition should address include:

Revenue Analysis: Analytics can analyze revenue data for its composition, trends, and drivers. This process includes examining revenue by product or service, customer segment, geography, sales channel, and time period.

Billing Accuracy: Analytics can monitor billing accuracy by analyzing discrepancies between billed amounts and actual revenue recognized. In addition, analytics can identify billing errors, such as overbilling or underbilling, and take corrective actions to ensure accuracy.

Revenue Leakage: With analytics, organizations can monitor for instances of revenue leakage, such as unbilled services, uncollected revenue, or missed revenue recognition opportunities. In addition, analytics allow monitoring for the root causes of revenue leakage so that companies can implement measures to prevent future occurrences.

Revenue Recognition Compliance: Analytics can help with compliance for accounting standards, such as ASC 606 / IFRS 15 for revenue recognition.

Contract Analysis: Analytics can monitor customer contracts to ensure alignment between contractual terms and revenue recognition practices. Points to identify include complex contract arrangements, variable consideration, contract modifications, and other factors that may impact revenue recognition.

Revenue Forecasting: Companies can use analytics to forecast future revenue streams based on historical billing and revenue data, market trends, customer behavior, and other relevant factors. They can use this data to develop revenue forecasts to support financial planning and decision-making.

Customer Insights: Analytics can process customer data to understand customer behavior, preferences, and purchasing patterns. Companies can use this data to identify high-value customers, churn risks, cross-selling or upselling opportunities, and other insights to maximize customer lifetime value.

Process Efficiency: Companies can use analytics to determine the efficiency of billing and revenue recognition processes by analyzing key performance indicators (KPIs) such as billing cycle times, revenue recognition cycle times, error rates, and process costs.

Revenue Performance Metrics: Analytics can monitor key revenue performance metrics, including revenue growth rates, profitability margins, customer acquisition costs (CAC), customer lifetime value (CLV), and revenue retention rates. Companies can use this data to assess business performance and identify areas for improvement.

Risk Management: Analytics can monitor and mitigate risks related to billing and revenue recognition, such as fraud risks, non-compliance risks, contractual risks, and revenue volatility risks.

By covering these key areas, analytics for billing and revenue recognition can provide organizations with actionable insights to optimize revenue performance, ensure compliance, mitigate risks, and drive business growth.

SOFTRAX RMS offers the industry’s most powerful, cloud-based analytics engine and business intelligence tools with drill-down ability and functionality to view customer, revenue, and contract activity. SOFTRAX RMS analytics capabilities are part of the platform’s best-in-class automation and monetization for all forms of billing, contract and renewal, and revenue recognition.

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