Softrax Revenue Manager Adds Automated Revenue Recognition, Reporting, and Forecasting to Complement Oracle Infrastructure
Canton, Mass. (Vocus) March 10, 2008-- Softrax Corporation, a leading provider of enterprise revenue management and billing solutions today announced that Kaplan Test Prep and Admissions has selected Softrax for a major upgrade to their revenue management and financial compliance infrastructure.
Softrax Revenue Manager will support the increasingly complex revenue recognition accounting – especially EITF 00-21 – of Kaplan’s expanding business, streamline revenue reporting, enhance order-to-revenue process visibility, and improve revenue forecasting. Kaplan’s implementation of Softrax Revenue Manager will operate in concert with their existing Oracle Financials system.
Complementing standard ERP systems, Softrax Revenue Manager allows companies to mirror their revenue recognition policy in a single system and manage all critical revenue processes. As a result, companies can:
- Gain unprecedented visibility into their revenue recognition forecast and identify risk elements
- Eliminate cumbersome manual processes, freeing up time for critical accounting interpretations and decisions
- Ensure consistent, accurate interpretation of revenue policies
- Support complex revenue recognition guidelines such as EITF 00-21, SOP 97-2, SOP 81-1, and SAB 104
- Optimize revenue processes to better support the financial closing cycle
- Manage risk and Sarbanes-Oxley compliance with robust internal controls for revenue recognition
“Softrax Revenue Manager is the first and only enterprise software application to bring advanced revenue management functionality to existing financial infrastructures,” said Softrax President and CEO Robert O’Connor. “Softrax Revenue Manager will automate Kaplan’s complex processes and enable faster, more accurate revenue forecasting and reporting. As a result, Kaplan’s executive team will have better information, more visibility and higher degrees of accuracy at every step in their revenue process.”
About Kaplan Test Prep and Admissions
Kaplan Test Prep and Admissions (www.kaptest.com), a division of Kaplan, Inc., is a premier provider of educational and career services for individuals, schools and businesses. Established in 1938, Kaplan is the world leader in the test prep industry. With a comprehensive menu of online offerings and a complete array of books and software, Kaplan offers preparation for more than 90 standardized tests, including entrance exams for secondary school, college and graduate school, as well as English language and professional licensing exams. Kaplan also provides private tutoring and college and graduate admissions consulting services.
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, and by calling 1.888.4.SOFTRAX.
Media Contact
Linda Wilson
Softrax Corporation
781.830.9308
press @ softrax.com
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