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www.softrax.com |
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PROFILE
Softrax Corporation is a leading provider of enterprise billing
and revenue management software solutions that fundamentally
change the way companies manage, analyze, report, and forecast
their revenue. Softrax solutions automate the entire revenue
cycle, from complex billing and contract renewals, through
revenue recognition, reporting and forecasting. Hundreds of
corporations benefit from using Softrax to maximize their
revenue, reduce operating expenses, comply with revenue recognition
regulations and Sarbanes-Oxley requirements, and gain unprecedented
visibility into their business performance. Softrax Corporation,
headquartered in Canton, MA is privately held.
OFFERING
Revenue management is a fully integrated and automated process
for managing the financial transactions associated with your
customer relationships. Softrax revenue management solutions
improve the accuracy, availability, and usability of your
key financial information by eliminating spreadsheets and
integrating the flow of revenue data across all your accounting
processes.
Softrax solutions are based on a fundamental architectural
advantage that enables automation to be applied independently
to billing and revenue recognition in a coordinated way. As
a result, very complex revenue models and the demands they
place on your billing, recognition, allocation, scheduling,
and compliance activities can be effectively automated in
one system.
With Softrax you can easily control business models that
create headaches for other systems, especially when it comes
to managing deferred revenue, contract renewals, and issuing
complex invoices. Because Softrax stores all revenue related
information, your audit and analysis processes are always
based on high integrity revenue data. By implementing Softrax
you get a robust financial infrastructure that supports growth
and innovation as you scale your business.
SOLUTION HIGHLIGHTS
Contract Management
- All the details of the contract are managed throughout
the contract life cycle, including terms for billing and
revenue recognition
- Sales orders and contract renewals are supported with
multiple pricing based on volume or service level
Billing
- Business models and customer billing can be customized
by account
- Automatic pricing based on contractual terms can be applied
to any line item
Revenue Allocation
- Accurate and consistent revenue booking
- Contracts that have multiple elements and numerous revenue
streams are assigned appropriate allocation and recognition
schedules according to your business rules
Revenue Recognition
- Revenue is booked and recognized in the appropriate fiscal
accounting periods, according to accounting practices and
regulations
- Visibility into this process is provided with a transactional
audit trail and reporting tools
- Updates issued as new regulations from the SEC and FASB
appear
Revenue Reporting
- Access to detailed reports and audit trails, with visibility
into revenue schedules to enable proactive revenue management
Revenue Forecasting/Planning
- Revenue forecasting and ability to adjust business plans
to reflect changing business scenarios
- Supports analysis of changes in future maintenance revenues,
deferred revenues by product, forecasting services revenue
by customer or engagement, and measurement of profit and
loss impact according to service engagement
Support Compliance with Sarbanes-Oxley, SEC and FASB
- Provide a transactional audit trail for SOX 404 assertions
- Create a foundation for robust internal controls over
revenue processes
- Support compliance with revenue recognition rules (SOP
97-2, 98-9, 81-1, VSOE, SAB 101, and EITF 00-21)
- Identify and optimize revenue processes
- Improve the integrity of revenue data
- Better establish and enforce internal controls for revenue
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