Sustaining rapid growth required that Framework quickly establish efficient processes across the company, including finance. They selected SOFTRAX because it was the only solution that could automate the whole revenue cycle from general ledger to deferred revenue.
As Framework’s business has expanded, a number of strategic and structural changes had to be made. The sales strategy transitioned from product and technology selling to solution selling, and sales, and support was also restructured. In addition, the number of customers increased significantly and deal sizes started getting larger and more complex. As a result, processes needed upgrading. Finance was relying on spreadsheets for managing deferred revenue and a calendaring package for booking services.
The first order of business was a new financials package. Framework was using a desktop accounting package that was insufficient to keep up with the new volume of transactions.
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