Softrax Corporation, a provider of enterprise revenue management and billing solutions, announced the release of Softrax Revenue Manager™ 2.0. The new version adds significant features to the only enterprise software application dedicated to managing revenue recognition processes within the corporate ERP infrastructure.

Softrax Revenue Manager works in concert with existing Oracle, SAP, Microsoft, and other leading ERP and financials applications to automate the entire revenue lifecycle across the enterprise. New features and enhancements include:

More comprehensive revenue recognition controls: Softrax Revenue Manager 2.0 continues to add revenue recognition controls to support more business models. This includes the standard support for usage based revenue recognition, which allows companies to automatically recognize revenue based on the draw-down of prepaid contracts and gift cards.

Revenue reporting for reseller channel sales: Softrax Revenue Manager 2.0 supports the appropriate revenue recognition of sales from a reseller channel through automated revenue allocation. It also provides the flexible reporting structure required to report and analyze revenue from complex channel sales and reseller relationships.

“Progressive” financial close: Softrax Revenue Manager now enables companies to stage revenue recognition journal entries at earlier dates in a fiscal period rather than waiting until the end of the period. This reduces the amount of work required at the end of each period, speeds up the close, and improves revenue visibility within a fiscal period.

Enhanced revenue re-allocation: In addition to the unique revenue re-allocation capabilities of the previous release—which included automated fair value/ VSOE allocation and carve-outs—the Softrax Revenue Manager 2.0 now also allows for user specified and predetermined revenue allocation for warranties, partner revenue, or market development funds.

Recasting of revenue because of business changes: Softrax Revenue Manager 2.0 adds several features for recasting revenue and updating related accounting entries automatically based on business events. This enhances users’ ability to trigger revenue recognition decisions across multiple products, customer groups, contract types, or other business attributes.

Advanced revenue reporting: Softrax Revenue Manager 2.0 expands its reporting capabilities and adds several advanced revenue reporting concepts such as: FASB 52 multi-currency revaluation reporting, revenue aging analysis, and fair value/VSOE analysis.