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Consumption billing can force SaaS companies to conform to the variable consideration guidance in ASC 606

Consumption billing can force SaaS companies to conform to the variable consideration guidance in ASC 606

Consumption, or usage-based, billing models charge customers based on the quantity or usage of a product or service. The model has become increasingly popular in the SaaS business environment, where
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Subscription providers should be ready for the FTC’s Click to Cancel Provision

Subscription providers should be ready for the FTC’s Click to Cancel Provision

Businesses offering subscription-based goods and services should be paying close attention to the FTC’s proposed Click to Cancel rule that would make it easier for customers to cancel subscriptions. The
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Where are the Auditors

Where are the Auditors: ASC 606 and Recognizing Subscription Billing Revenue

Since ASC 606 and IFRS 15 have taken effect, auditors, particularly in the private sector, have had a soft touch in enforcing some of the most complex portions of the
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IoT, Billing, and Revenue Recognition

IoT, Subscription Billing, and Revenue Recognition

The Internet of Things (IoT) continues its exponential growth, with IoT Analytics estimating that the global number of connected IoT devices will grow by 16% this year, to 16.7 billion
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How to Manage the Contract Renewal Process

How to Manage the Contract Renewal Process

Accurately tracking the revenue stream throughout the contract renewal process is a prominent struggle for companies large and small. Without easy access to the appropriate data to understand new revenue,
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Can Your Business Handle the “Subscription Billing Pause”?

The subscription market continues to thrive despite inflation and changing economic conditions, with consumers valuing subscription services for convenience and choice. What has changed are customer expectations of membership and
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Billing and ASC 606/IFRS 15 for the healthcare industry

Billing and ASC 606 / IFRS 15 for Healthcare Entities

Compliance challenges have become common in billing and ASC 606 and IFRS 15 for the healthcare industry. The standard, ASC 606 outlines a single, comprehensive model for accounting for revenue
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revenue management software for telecommunication industry billing and ASC 606 challenges

Compliance Challenges in Billing and ASC 606 for Construction Companies

Complexities in billing and ASC 606 impacts compliance for construction companies.
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Telecommunications Industry Billing and ASC 606 Compliance Challenges

Given the nature of their business, telecommunications companies have had a high level of success in revenue recognition processes. However, for most industries, including the telecommunications industry, billing and ASC
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Revenue-Management-System-Team

What is Milestone Billing and Why Automate the Process?

Milestone billing is a payment cycle that uses agreed-upon events or deliverables as billing deadlines. Many cases require advanced functionality with milestone billing automation.
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Cloud-based Revenue Management for Complex Billing and Revenue Recognition

Cloud-based Revenue Management for Complex Billing and Revenue Recognition

The migration to recurring revenue business models coupled with recent changes in revenue recognition accounting guidance necessitates additional infrastructure for support in the back-office, prompting companies to look for modern, cloud-based revenue management
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Mitigating the Impact of Subscription Billing with Modern Revenue Management Solutions

How to manage the challenges behind the subscription-based business model with leading revenue management software solutions. Trends from the past years consistently show that buying preferences have shifted from ownership
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SEC Compliant Revenue Management Solution

Throughout 2021, SOFTRAX released industry-specific blog entries that explored financial reporting challenges and SEC comment letter trends. These posts can be found on the SOFTRAX Blog and feature information on
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ASC 606 Solutions for the Professional Service Industry

ASC Topic 606, Revenue from Contracts with Customers, adds a new series of hurdles for businesses with the new five-step framework to the revenue recognition process. With the expansive challenges
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The Impacts of Continuous Accounting and How to Support It

The Impacts of Continuous Accounting and How to Support It

This blog post is part two of the two-part blog series “The Future of Finance.” The goal of achieving a more strategic finance and accounting function in a corporation has led
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