Softrax Announces General Availability of Softrax Revenue Manager

June 29, 2007; 04:22 AM
Softrax Corporation, a leading provider of enterprise billing and revenue management solutions, today announced the general availability of Softrax Revenue Manager™, the only enterprise software application dedicated to managing revenue recognition processes within the financial IT infrastructure.

Softrax Revenue Manager mirrors a company’s revenue policy in a single system, and controls all critical revenue processes within existing ERP environments. By consolidating revenue recognition activities, the product provides a series of critical benefits, including lower compliance risk, more accurate and consistent revenue recognition, faster and more flexible revenue reporting, and unprecedented insight into future revenue streams.

“Our research shows that many companies are still using manually intensive processes and spreadsheets to manage revenue reporting, despite the risk of error, lack of audit trail, and delay of the financial reporting process,” said Kathleen Wilhide, Research Director, IDC. “Softrax Revenue Manager can help companies to reduce risk and optimize revenue reporting processes by providing a consolidated point of control over the entire revenue life cycle.”

“ERP systems are not designed to handle complex revenue recognition processes,” said Robert O’Connor, President and CEO of Softrax. “Softrax Revenue Manager is the only software application that adds advanced revenue recognition capabilities to existing enterprise infrastructures so that revenue reporting can be done more accurately and much faster. As a result, executives can have much better information for decision making, greatly improved vision into future performance, and higher confidence in their financial statements to investors.”

Softrax Revenue Manager's open architecture has been designed for seamless integration with other enterprise systems such as SAP, Oracle/Peoplesoft or Microsoft Business Solutions. It is built on the Softrax Services Oriented Architecture (Softrax SOA) and includes an intuitive, user-friendly, AJAX (Web 2.0) user interface. The use of business process execution language (BPEL) and business rules provides powerful administrative tools and allows for continuous adaptability to changes in revenue policy and business processes.

To learn more about what Softrax Revenue Manager can do for your business, please visit www.softrax.com/revenuerecognition or call us at 1.888.4SOFTRAX.

About 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.