Professional Services

PROFESSIONAL SERVICES

A Partner Eco-System to All the Operation and Revenue Accounting Ccomplexities and Needs of a Professional Services Organization

Enhanced ERP Performance

Professional services companies relying on ERP systems to manage the complexity of their businesses often find they just don’t have the functionality and integration needed to run a tight ship. They are forced to manual spreadsheets, customizations, and other work arounds. SOFTRAX has over 20 years of experience deploying revenue accounting in the context of a complex Professional Services Automation (PSA) environment, enabling companies to bypass expensive customizations or reliance on spreadsheets and meet current and emerging business and reporting needs.

Enhanced ERP Performance

ASC 606 Compliance

Professional services organizations deal with complex contracts, making reporting and compliance with ASC 606 more difficult than other industries. Companies need to account for a number of factors, including disaggregation of revenue, proportional allocation against SSP, disclosure of contract asset & liability balances, potentially contract modifications and combinations, and the cost to obtain contracts. The SOFTRAX Revenue Management System can easily meet the ASC 606 reporting needs for even the most complex contracts, letting an organization be confident in their compliance reporting.

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