Platform includes BI-enabled KPI dashboards, sophisticated subscription and consumption billing features, and automated renewal management capabilities
SOFTRAX, a leading provider of revenue lifecycle management solutions, today announced the release of SOFTRAX Revenue Management System (RMS) 14.0 to provide the advanced BI reporting, subscription and consumption billing, and revenue recognition abilities required for modern monetization and revenue management. The features include Key Performance Indicator (KPI) dashboards that track net dollar retention and the drivers of it — bookings, growth, churn, contraction, expansion, MRV, subscription profiles, contract profiles, etc. — to give executive leadership the reporting needed for strategic revenue readiness. The release also includes extended features for subscription and consumption billing functions, updated SSP books and calculator functions as well as the ability to pause and resume forecasts for revenue recognition.
With these capabilities, SOFTRAX continues its commitment to meeting the billing and revenue management demands of companies looking to support multiple forms of billing, complex renewal processing, and revenue recognition in a single, highly automated platform. SOFTRAX RMS offers the modern enterprise streamlined billing and revenue management in a multi-tenant, cloud-based solution. With SOFTRAX RMS, companies can be prepared for monetization, growth, and compliance.
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The release is the latest event in an unprecedented year for SOFTRAX, which saw a strong response from clients, industry organizations, media, analysts, and partners. The company was a finalist for the Best Subscription Billing Solution at the CODiE Awards as well as a finalist in the Ventana Research Digital Innovation Awards. SOFTRAX also announced a partnership with Planview to offer revenue management, strategic management, and development capabilities to professional services companies.
“Companies have been forced to piecemeal adopt point solutions to support new, recurring subscription or consumption bill models and to automate the revenue recognition standards. Many companies now seek consolidation to a single platform that can handle the full breadth of their legacy and contemporary bill models, their contract renewal processes, and their revenue recognition,” said Tom Zauli, SVP and General Manager at SOFTRAX. “SOFTRAX RMS has the features and agility to meet the demand of all levels of customers, from start-ups to multi-billion-dollar entities. SOFTRAX leverages our proprietary policy engine, a strategic use of key data, and a legacy of serving complex needs, which has resulted in a tremendous industry response.”
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