When this software developer acquired a services company, they needed new tools and accounting systems to help merge and manage the two businesses. Critical processes for billing, expensing and maintenance renewals had to be integrated with time and expense reporting for professional services, product development, and customer support SOFTRAX provided an integrated financial infrastructure that resulted in productivity improvements throughout the company and unprecedented control over project profitability.
This company was using a variety of stand-alone accounting tools to manage its software and services business. There were several databases in use to extract time and expense data from contracting systems, which was then re-keyed into the enterprise accounting system to generate invoices. There were multiple data entry points and no flow of data from one organization to another. As a result, there was little insight into realization rates or project profitability.
The company needed to automate and streamline processes across multiple departments. Professional services required a more sophisticated way to manage engagements, track progress and staffing levels, and provide management controls for time entry, expensing, and billing. Product development wanted a tool to manage their projects, and customer support needed a centralized repository for capturing time against maintenance contracts.
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