Finance

SOFTRAX Revenue Management System for Finance Professionals

Finance

Automate Revenue Management to Focus on Revenue Creation

At SOFTRAX, we realize that financial workers – from CFOs and Chief Accounting Officers through Senior Accountants and Controllers – are facing a tough environment. New billing models, such as subscription and consumption, combined with the compliance requirements of ASC 606 / IFRS 15 for revenue recognition have added additional layers of complexity to an already tough job.

SOFTRAX has a way to save time and resources while meeting your reporting and compliance goals. Our Revenue Management System (RMS) offers the industry’s most powerful single system to manage all forms of billing, contract renewal, and revenue recognition.

How SOFTRAX RMS Works

SOFTRAX RMS provides a high level of automation to support all types of billing functions, all while keeping in compliance with ASC 606 / IFRS 15 revenue recognition.

Milestone Billing

Milestone Billing relies on scheduling, inputs, and budgets, and SOFTRAX allows these to be seamlessly deployed and managed to keep you on schedule.

Subscription and Consumption Billing

SOFTRAX RMS manages Subscription and Consumption Billing and provides an easy way to launch and maintain MRR and ARR to capture all revenue.

Contract Renewal Management

Contract Renewal Management is key to keeping revenue flowing, especially in turbulent economic times. Taking a leading approach to contract renewals reduces the likelihood of revenue loss and leakage and allows you an easy means for ASC 606 compliance. SOFTRAX has you covered in every phase of contract renewal management.

Revenue Recognition

Revenue Recognition is complicated through ASC 606 / IFRS 15 using a five-step recognition process across industries. SOFTRAX draws on its legacy as one of the industry’s first revenue recognition systems, to offer SOFTRAX RMS, a multi-tenant cloud solution that increases back-office automation to streamline every aspect of revenue recognition.

Our Approach: Doubtless Revenue Accounting

To meet the challenges and opportunities from a changing financial environment, organizations should look to transform its accounting. For most organizations, revenue accounting still includes manual processing. It is time for a new level of automation and controls, and SOFTRAX is leading this charge. SOFTRAX has pioneered use of its proprietary policy engine technology to enable a ‘touchless’ approach to accounting, including all forms of billing, contract renewal management, and revenue recognition. This transformation is what we term “Doubtless Revenue Accounting,” which includes improvements in agility, efficiency, security, risk, and compliance.

Doubtless Revenue Accounting Includes:

Companies that employ Doubtless Revenue Accounting will have a better way to navigate an environment that includes growing complexity in processing, increasing scrutiny on complicated regulation, aging back-office ERP systems, and changing technologies and data flows. 

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Let us show you what SOFTRAX can do

FREE CPE WEBINAR
A SaaS Company’s Revenue Management Journey – From Start-up to Enterprise
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