Case Study: Taxware streamlines revenue recognition with SOFTRAX

Taxware saves 1.5 weeks a month with Softrax

Taxware selected Softrax to address challenges in managing customer installation data and automating maintenance renewals and billings. Their primary need was to automate revenue recognition for their subscription software model, eliminating error-prone manual spreadsheets and processes. They required a system that could apply specific revenue rules to each contract automatically.

The solution implemented by Softrax centralized and automated their entire revenue operation. This enhanced system manages the installed base, billing, and renewals, while automatically allocating and posting subscription and maintenance revenue using deferred schedules. As a result, Softrax saves the finance department one and a half weeks of work each month, freeing them to focus on analysis and planning.

Taxware