Press Release Summary:
Providing reporting and analysis for financial professionals, Softrax Operations v9.0 and Softrax Contrax v4.0 facilitate revenue accounting and business decision-making. Vendor Specific Objective Evidence Analysis assists customers in establishing and evaluating fair value pricing models, while Renewal Retention delivers visibility to companies dependent on subscription-based business models. Advanced Deferred Revenue Reporting shows how future revenue will be recognized over time.
Original Press Release:
Softrax Announces Newest Billing and Revenue Management Solutions
Softrax Solutions Add Advanced Revenue Visibility to Enable Improved Cash Flow and Revenue Performance
Canton, Mass. - May 21, 2009-- Softrax Corporation, a leading provider of enterprise revenue management and billing solutions, today announced the availability of Softrax Operations 9.0 and Softrax Contrax 4.0.
The releases provide new features and improved usability with the specific focus on advanced reporting and analysis capabilities for financial professionals. Together, the new versions add more than 20 new reports that enable better revenue accounting and business decision-making. Examples include:
o Vendor Specific Objective Evidence (VSOE) Analysis - Assists customers in establishing, supporting, and evaluating fair value pricing models.
o Renewal Retention - Delivers greater visibility to companies dependent on subscription-based business models. Companies gain a better view into upcoming subscription renewals and a more comprehensive analysis of which customers renew, which don't and why.
o Subscription sales bookings - Provides enhanced capabilities to support software as a service (SaaS) business models. Now, sales bookings can be analyzed by key future-looking metrics that help executives truly understand SaaS revenue performance.
o Advanced Deferred Revenue Reporting - Provides deep visibility into how future revenue will be recognized over time including total balance, balance on-hold, and backlog by customer.
These new releases build on well-established, industry leading functionality for automating critical accounting processes, such as: contract management, pricing, billing, revenue allocations and deferrals, expense accounting, renewals, and other accounting activities. These solutions have been developed to meet the needs of companies with complex revenue and billing models like those found in: software (including SaaS), business process outsourcing (BPO), internet, information providers, research, and e-learning products and services.
"In today's economic environment companies may not be able to rely on new sales to drive revenue," said Gottfried Sehringer, Softrax vice president of marketing. "Therefore, it's critical to have the information and capability to optimize existing relationships and the deferred revenue backlog. With Softrax it's now easier than ever for executives and managers at all levels to see what activities are key revenue drivers. In addition, accounting staff can ensure that they capture 100% of their contractual relationships with every account. As a result, Softrax helps improve cash flow and revenue performance, two measures that many companies are finding challenging today."
Availability and Pricing
Both products are shipping now. Pricing and additional information can be obtained by calling Softrax at 1.888.4.SOFTRAX.
Softrax Corporation is a leading provider of enterprise revenue management and billing software solutions that fundamentally change the way companies manage, analyze, report, and forecast their revenue. Softrax solutions automate the entire revenue cycle, from revenue recognition, reporting and forecasting, through complex billing and contract renewals. Hundreds of corporations benefit from using Softrax to optimize 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. More information can be found at www.softrax.com, www.RevenueRecognition.com, or by calling 1.888.4SOFTRAX.