LogicVision: Replacing Monolithic Financials System to Improve Flexibility and Control

Replacing an enterprise financials system with SOFTRAX provided LogicVision with
immediate cost savings and rapid return on investment. In addition, key
financial data flows were streamlined, resulting in increased productivity, more
accurate and timely billing, improved compliance controls, and greater reporting
and forecasting capabilities.

LogicVision’s revenue stream is characterized by low-volume, high-dollar
transactions, which can be as large as $10 million over a three to four year
period. Products are typically licensed on a one-year subscription basis, so
renewal and pricing terms must be carefully tracked, but there are also some
perpetual/term licenses in the installed base.

In addition to the business issues, there were infrastructure issues that were limiting the company’s revenue management capabilities. 

“The cost to buy SOFTRAX with a year of support was less than the one-year cost of supporting our enterprise financials system. So, the additional SOFTRAX capabilities for deferred revenue, maintenance renewals, reporting, and forecasting, were essentially free."
Jeff Chalmers
Corporate Controller

Download the full LogicVision Case Study to better understand the challenges facing thier company and how SOFTRAX helped provide solutions that brought efficiency and automation to their organization.

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ASC 606 Revenue Recognition Checklist

Do you know the five steps of ASC 606 and the impact of them on your revenue? The SOFTRAX ASC 606 Checklist can help.