SOFTRAX Solutions | Billing and Revenue Recognition

A state of the art revenue and billing system can mean the difference between being able to bring innovative products and services to market and being an also ran. When companies offer new services, solutions, and purchasing options to their customers, they need the financial infrastructure to back it up. To be fully operational, today’s sophisticated business models typically require billing to be well integrated with customer management, contract information, and revenue recognition processes.

SOFTRAX integrates billing with all the information from your active customer contracts at the front end and revenue recognition accounting processes at the back end. In SOFTRAX, billing and revenue are separate, coordinated processes that can be controlled by independent business rules derived from your customer agreements. This provides enormous flexibility for how you package and sell your offerings. SOFTRAX even sends renewal quotes for customers to review well ahead of the actual invoice, to reduce billing inquiries and decrease days billing outstanding. As a result, SOFTRAX delivers efficiencies that other systems can’t provide. The impact is greater productivity, optimized revenue, and better customer service.

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SOFTRAX® Solution highlights

Easily automate maintenance, milestone and recurring billing

Manage multi-faceted billing scenarios
Consolidate multiple recurring items into a single bill
Setup schedules across a contract

Revenue Accounting and Revenue Management

Control revenue general ledger account distribution
Account for complex adjustments
Automate journal entries for every billing and service activation event
Simplify compliance with complex accounting standards

Customize Billing to Your Customers’ Needs

Synchronize multiple bills and automatically:

Line up all your maintenance start and end dates
Pro-rate all the pricing associated with synchronized contracts

Support Sophisticated Pricing Models

Easily create and manage pricing models
Apply tiered volume discounts
Support variable pricing bands over the life of a contract
Gain visibility into how time-dependent pricing affects future account profitability

Gain total control over deferred revenue transactions

Completely automate revenue accounting tasks
Easily create and manage revenue schedules
Enable more sophisticated reporting and forecasting

Completely automate maintenance renewals

Optimize maintenance renewals through the entire customer life cycle
Instantly determine which customers or products are up for renewal
Make the renewal process easier for your customers
Easily incorporate complex pricing models

Powerful built in revenue recognition functionality

Automate even the most complex revenue calculations
Integrate complex deferred revenue transactions with your general ledger
Apply revenue recognition policies on an enterprise basis
Simplify compliance with vendor specific objective evidence (VSOE) requirements of SOP 97-2
Completely automate deferred revenue transactions
Completely automate maintenance renewals
Greatly facilitate reporting and forecasting
Support compliance with Sarbanes-Oxley, SEC and FASB

THE SOFTRAX SOLUTIONS

CUSTOMER PERSPECTIVE

“With SOFTRAX, everything – billings, deferrals, renewals – can be set up by one person all at once. That has saved us time, effort, errors, and missed revenue.”

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Billing and Revenue Recognition

Establish independent, coordinated processes for managing billing and revenue recognition