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 offers the industry’s most powerful single system to manage all forms of billing, contract renewal, and revenue recognition.
Subscription and Consumption Billing from SOFTRAX provides an easy way to launch and maintain MRR and ARR to capture all revenue for simple and complex versions of the subscription business model.
Milestone Billing relies on scheduling, inputs, and budgets, and SOFTRAX allows these to be seamlessly deployed and managed to keep you on schedule.
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.
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.
Do you know the five steps of ASC 606 and the impact of them on your revenue? The SOFTRAX ASC 606 Checklist can help.