SOFTRA X Operations .605-35: Construction-Type and Production-Type Contracts (SOP 81-1), ASC 605:

SOFTRA X Operations .605-35: Construction-Type and Production-Type Contracts (SOP 81-1), ASC 605:
SOFTRA X Operations .605-35: Construction-Type and Production-Type Contracts (SOP 81-1), ASC 605:
download SOFTRA X Operations .605-35: Construction-Type and Production-Type Contracts (SOP 81-1), ASC 605:

of 2

  • date post

    19-Jun-2018
  • Category

    Documents

  • view

    213
  • download

    0

Embed Size (px)

Transcript of SOFTRA X Operations .605-35: Construction-Type and Production-Type Contracts (SOP 81-1), ASC 605:

  • Manage critical revenue information andautomate vital financial processes. P R ODU C T B R I E F

    SOFTRAX Operations unifies operational data toprevent revenue fromfalling through the cracks.

    SOFTRAX Operations is an enterprise solutiondesigned specifically for companies with complexbilling and revenue recognition processes. It houses all of a corporation's operational data inone tightly-integrated, highly efficient resource andautomates key accounting workflows throughoutthe entire revenue cycle.

    By eliminating the manual, error-prone process ofmaintaining information in multiple databases,spreadsheets and paper files, SOFTRAX Operationsdelivers a robust foundation for compliance withaccounting guidelines and Sarbanes-Oxley requirements. Companies using SOFTRAXOperations increase productivity, improve cashflow and achieve greater transparency, enablingthem to manage their businesses more successfully.

    MANAGE WITH GREATER FLEXIBILITY AND VISIBILITY

    No matter how complex the product and serviceofferings, SOFTRAX Operations stores and trackstransactions with ease. Maintain multiple pricebooks. Set up contacts within a multi-dimensionalcustomer hierarchy. Create a broad range of license,subscription and usage-based contracts, supportprograms, and packaged assemblies. Then drilldown for details on any individual product, customer, or installation with ease and speed.

    RECOGNIZE DEFERRED REVENUE CORRECTLY

    SOFTRAX Operations handles deferred revenue automatically, allocating maintenance contract fees,subscriptions, and even individual product component revenue according to whatever logic is specified. The result: optimal revenue managementprocesses that support compliance with recognition guidelines like ASC 985-605: SoftwareRevenue Recognition (EITF 09-3, SOP 97-2), ASC605-35: Construction-Type and Production-TypeContracts (SOP 81-1), ASC 605: RevenueRecogition (SAB Topic 13), ASC 605-25 MultipleElement Arrangements (EITF 08-1), and ASC 605-10-S99L Revenue Recognition Overall (SAB 101 &104).

    COMPLETELY AUTOMATE YOUR BILLING PROCESSES

    The powerful billing functionality in SOFTRAX ishighly flexible and comes integrated with contractmanagement, price books, and of course core revenue management capabilities. Completely automate multiple billing methodsschedule milestone invoices, generate complex invoices, andeasily apply revenue recognition guidelines foreach. Customize invoices by account, location, project completion, and line item. Reconcile billingactivity with revenue and create accurate reportsand forecasts of cash flow and revenue recognition.

    RENEWAL MANAGEMENT

    SOFTRAX provides a fully integrated and automat-ed system for managing your existing customer relationships, especially maintenance contracts.Apply customized renewal rules by date, product,location, or customer. Automate pricing based onproduct-level contractual terms and resetting ofcontract coverage dates. Support co-terminus withfull contract history. Implement multi-dimensionaltiered pricing models, including contract maximums. Automatically create revenue schedulesand generate pro forma notices/invoices.

    INCORPORATE MULTIPLE BUSINESS MODELS AND

    PROCESS COMPLEX FINANCIAL TRANSACTIONS

    SOFTRAX Operations excels at supporting rapidlyevolving business models, with complex billing,ordering and product configuration. Numerouscombinations of billing, fulfillment, and revenuerecognition scenarios are accommodated. Theproduct configuration facility within Operationsenables the addition, configuration and reconfiguration of products at any time. As a business develops and expands, SOFTRAXOperations provides the infrastructure to supportongoing growth.

    SOFTRAX Operations

  • SOFTRAX CORPORATION WWW.SOFTRAX.COM45 SHAWMUT ROADCANTON, MA 02021

    SOFTRAX Operations

    ACHIEVE GREATER EFFICIENCY, ACCOUNTABILITY,

    AND PROFITABILITY BY MAINTAINING UP-TO-DATE

    CUSTOMER INFORMATION

    Maintenance and subscription contracts

    Contract terms and conditions

    Contact and shipping data

    Hardware and system configurations

    Operating systems and platforms

    Installed products and versions

    License types

    Customer relationships and hierarchy

    CUSTOMIZE EASILY WITH FLEXIBLE PARAMETERS

    Create a wide range and variety of:

    Price books cover OEMs, ISVs, channels, limited use, and more

    License types

    Contacts per customer

    Product configurations

    User-defined fields

    ACCESS CUSTOMER AND ORDER DATA INSTANTLY

    Drill down in an installation to view licensing, pricing, or maintenance detail

    Integrated with inventory for instant order status

    Access information about customers, status, payment, and order history

    MANAGE PRODUCT LINES

    Automatically generate fulfillment documents

    Compare orders to inventory in real-time

    Manage complex product assemblies and suites

    Benefit from a comprehensive inventory management system

    LEVERAGE REPEAT BUSINESS

    Automatically generate lists of maintenance contracts, licenses, and subscriptions that are up for renewal

    Automatically generate pro-formal invoices for renewal programs

    Quickly query entire database to determine upgrade, update, or cross-sell targets

    MANAGE REVENUE RECOGNITION

    Enables compliance with ASC and IFRS guidance for revenue recognition

    Automatically allocate and post subscriptions and maintenance contract revenue, using deferred revenue schedules

    Automatically allocate sales revenue among product components, based upon Vendor Specific Objective Evidence (VSOE) pricing

    ENHANCE BUSINESS PERFORMANCE

    Increase customer satisfaction and retention

    Maximize repeat and incremental business

    Capture maintenance and support revenue more completely

    Make better-informed, faster business decisions

    Count on accurate financial reporting

    SOFTRAX is a leading providerof enterprise billing and revenuemanagement solutions that fundamentally change the waycompanies manage, analyze,report, and forecast revenue.SOFTRAX solutions automatethe entire revenue cycle, fromcomplex billing and contractrenewals, through to revenuerecognition, reporting, and forecasting.

    Hundreds of companies benefitfrom using SOFTRAX to maximize their revenue, reduceoperating expenses, and complywith revenue recognition regulations and Sarbanes-Oxleyrequirements.

    ABOUT SOFTRAX

    2013 SOFTRAX Corporation. All Rights Reserved.

    P R ODU C T B R I E F