Tumbleweed’s financial infrastructure comprised two enterprise systems and more than a dozen spreadsheets. As a result, reconciling financial transactions required a great deal of manual intervention, introducing delays and potential inaccuracies in the reporting process. Then a new CFO brought in SOFTRAX to provide better controls, visibility, and flexibility.
Tumbleweed sells its solutions using perpetual software licenses with support and maintenance contracts. In addition, it provides a dynamic anti-spam service that delivers updates nearly every hour, which is sold as a subscription. As a result, there are multiple revenue streams with different recognition rules applied to each. But, Tumbleweed’s financial data was fragmented across enterprise systems and more than a dozen spreadsheets in different departments.
Tumbleweed needed to consolidate its financial data and streamline its processes across the entire revenue cycle. The lack of a unified financial repository made the processes for deferred revenue, maintenance renewals, contract management, revenue recognition, reporting, and forecasting extremely inefficient.
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