Global Information Provider Selects Softrax to Automate Revenue Management for Subscription Business Model
Canton, Mass., November 29, 2006 €” Softrax Corporation, a leading provider of enterprise billing and revenue recognition solutions, today announced that RISI, the leading information provider for the global forest products industry, has selected Softrax to automate its revenue management. Specifically, RISI will implement a solution for customer contract management, with automated billing and revenue recognition processing.
RISI offers subscriptions to a variety of information sources such as magazines, web newsletters, and online research services. Customers are typically billed in advance for the whole amount, creating a deferred revenue stream for virtually every line-item on a contract. €We were outsourcing our revenue recognition to a partner that was unable to manage all the complexities involved,€ said Bob Berg, CFO. €In looking for a way to bring these processes in-house and on-line, we found that Softrax delivers exactly the functionality we need to manage all revenue allocations and recognition automatically, no matter how simple or complicated the contract.€
€Due to the nature of subscription business models, information providers have unique challenges when it comes to revenue management,€ said Gottfried Sehringer, Vice President Marketing, Softrax. €Revenue schedules, allocation, and recognition have to be managed separately from billing. At the same time, accurate visibility into deferred revenue is critical to understanding how the business is doing. With our extensive experience automating revenue management, we are confident that Softrax will enable RISI executives to more effectively manage and grow the company.€
RISI is the leading information provider for the global forest products industry. The company works with clients in the pulp and paper, wood products, tissue and nonwovens industries to help them make better decisions.
Headquartered in Bedford, Massachusetts, RISI operates offices in Brussels, Belgium; Atlanta, Georgia; San Francisco, California; Portland, Oregon; Sao Paulo, Brazil; Shanghai, China; Singapore; and Charlottesville, Virginia. More information can be found at http://www.risiinfo.com .
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. More information can be found at www.softrax.com , www.revenuerecognition.com , and by calling 1.888. 4 SOFTRAX.
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