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What is SOFTRAX Revenue Management System?

The SOFTRAX Revenue Management System (RMS) represents a cutting-edge solution for managing revenue effectively. It uniquely integrates best-in-class automation for various billing types—including one-time, milestone, subscription, consumption, and renewal billing—alongside complex revenue recognition, all within a single platform to enhance the revenue management workflow. This cohesive system empowers organizations to concentrate on more strategic and profitable analytical endeavors. SOFTRAX offers an unparalleled comprehensive solution that addresses all forms of intricate billing and revenue recognition, fully compliant with the latest ASC 606 and IFRS 15 standards. This exceptional system fosters a high degree of automation, propelling your back-office operations toward the principles of continuous accounting. In addition, SOFTRAX RMS achieves the highest level of automation available across the industry. This unified solution effortlessly integrates with pre-existing ERP, CRM, CPQ, or custom-built systems, automating the exchange of order and fulfillment data to initiate the billing and revenue recognition processes. Furthermore, the system adeptly manages exchange rate fluctuations, tax calculations, and payment processing to guarantee accurate and timely financial transactions. By leveraging SOFTRAX RMS, organizations can significantly enhance their operational efficiency and revenue management accuracy.

What is Flowrev?

Employ the uncomplicated connect and bulk data upload approach to set up and authenticate your revenue and expense forecasts. Effortlessly download and handle new invoices, while also crafting flexible recognition timelines for each entry by integrating recognition timing criteria with calculation methods for every reporting period. With a single click, you can instantly access the latest revenue and costs displayed in your income statement by aligning aggregated monthly recognition schedules. Easily review recognition timelines and investigate the individual elements that contribute to them in-depth. Adjustments, including cancellations, can be navigated while ensuring complete traceability of all changes made. Flowrev operates as an all-inclusive software solution for cost and revenue recognition, alongside lifecycle management, and is compatible with popular online accounting systems. Beyond the excellent advantages these platforms inherently offer, Flowrev further amplifies their capabilities by enabling businesses to recognize prepaid expenses and deferred revenue either on the date of service or over a designated timeframe, regardless of when payments or invoices are processed. This additional feature guarantees that businesses uphold precise financial reporting and adherence to compliance standards, fostering a more reliable financial management environment. By implementing Flowrev, organizations can streamline their financial operations, ultimately leading to better decision-making and enhanced profitability.

Media

Media

Integrations Supported

Aria
Avalara
Microsoft Dynamics 365
NetSuite
Planview Changepoint
SAP Business One
Salesforce
Sovos
Thomson Reuters ONESOURCE

Integrations Supported

Aria
Avalara
Microsoft Dynamics 365
NetSuite
Planview Changepoint
SAP Business One
Salesforce
Sovos
Thomson Reuters ONESOURCE

API Availability

Has API

API Availability

Has API

Pricing Information

$420.00/month
Free Trial Offered?
Free Version

Pricing Information

$40.00/month/user
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

SOFTRAX

Date Founded

1999

Company Location

United States

Company Website

www.softrax.com

Company Facts

Organization Name

Flowrev

Date Founded

2015

Company Location

United States

Company Website

www.flowrev.com

Categories and Features

Billing and Invoicing

Billing Portal
Contact Database
Contingency Billing
Customer Portal
Customizable Invoices
Dunning Management
Hourly Billing
Invoice History
Mobile Payments
Multi-Currency
Online Invoicing
Online Payments
Payment Processing
Project Billing
Recurring/Subscription Billing
Service Ticket Billing
Tax Calculator

Recurring Billing

Customer Portal
Deferred Billing
Discount Management
Dunning Management
Invoice History
Multi-Currency
Multi-Period Recurring Billing
Payment Processing
Recurring Donations
Subscription Billing

Revenue Management

Competitor Analysis
Dynamic Pricing
For Airlines
For Hospitality Industry
Forecasting
Inventory Control
Price Optimization
Recommendation Engine
Yield Management

Subscription Management

Cancellation Management
Discount / Coupon Management
Dunning Management
Enrollment Management
Product Catalog
Recurring Billing
Revenue Recognition
Revenue Recovery Tools
Self Service Portal
Subscription Plan Management
Tax Management
Trial Management
Usage Tracking/Analytics

Categories and Features

Recurring Billing

Customer Portal
Deferred Billing
Discount Management
Dunning Management
Invoice History
Multi-Currency
Multi-Period Recurring Billing
Payment Processing
Recurring Donations
Subscription Billing

Popular Alternatives

Popular Alternatives