SOFTRAX Revenue Management System (RMS) is a multi-tenant cloud application for businesses with complex billing and revenue recognition needs. It supports subscription, usage-based, one-time and milestone billing. Its revenue subledger addresses ASC 606 and IFRS 15, including contract modifications and variable consideration, and supports accounting across multiple currencies and entities. RMS tracks renewals, pending-renewal notices, allowed price increases and co-terminations with contract history. Reports and dashboards cover billing and revenue recognition, with raw-data extracts available to download. APIs and a workflow engine can import customers, products, contracts, orders, invoices, usage records and credit memos; the engine can validate batches and send error notices by email. SOFTRAX says RMS connects with more than 200 ERP and financial systems and can connect with ERP, CRM and CPQ platforms. Granular controls manage who can view and edit transactional data and recognition policies. The product is presented for organizations ranging from early-stage companies to Fortune 500 enterprises. Pricing is on request; prospective customers can arrange a 30-minute consultation.
Who it is for
RMS suits businesses managing complex billing and revenue processes, from early-stage companies to large enterprises. It may fit teams that need revenue recognition workflows and connections to ERP, CRM or CPQ platforms.
What is good
- Supports four billing models
- Revenue subledger addresses ASC 606 and IFRS 15
- Tracks renewals and co-terminations
- Workflow engine validates imported batches
- Granular controls cover data and policies
What to know first
- Pricing is available on request
- No listed pricing for evaluating a budget
Verdict
RMS combines varied billing models with revenue recognition, renewal tracking and data workflows. Because pricing is on request, prospective customers need to contact SOFTRAX for a quote or consultation.
Compared on revenue recognition software
- Revenue standards
- both
- Allocation methods
- ssp
- Performance obligations
- Yes
- Contract modifications
- Yes
- ERP integrations
- Microsoft Dynamics
