Vindicia Partners with Softrax to Make Revenue Recognition Easier for Businesses with Subscription Products
Feb 19, 2016
Redwood City, Calif. – February 16, 2016 – Vindicia, the leader in enterprise-class subscription billing, today announced a partnership with Softrax, a leading provider of enterprise revenue management and billing software solutions that fundamentally change the way companies manage, analyze, report, and forecast their revenue. The partnership will help organizations reduce operating expenses, comply with revenue recognition regulations, and gain unprecedented visibility into subscription and recurring revenue business performance.
“There is increasing complexity in both billing and enterprise revenue management. No single ERP solution can keep up with the requirements,” said Tom Zauli, Softrax’s SVP and General Manager. “Our partnership with Vindicia provides an option to automate complex financial arrangements without requiring a disruptive rip-and-replace of core systems. It delivers significant savings that go straight to the bottom line. Our customers benefit from enhanced growth, scalability and pace of innovation.”
For many different industries, renewable and recurring revenue streams are increasingly vital sources of company growth. In fact, many organizations get a majority of their revenue from recurring sources. However, subscription and recurring billing models create complex accounting issues. Especially where multivariable arrangements are involved, companies are responsible for keeping up with any changes in regulation or business processes.
“The combination of Vindicia’s subscription billing expertise and Softrax’s revenue recognition experience gives clients a tremendous range of options,” said Bryta Schulz, Vindicia’s SVP of marketing. “Together, we can offer the solutions that help companies, like online services and software as a service companies, support the flexible subscription and recurring billing business models needed to grow and evolve their companies.”
SOFTRAX 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 gain unprecedented visibility into their business performance.
More information on SOFTRAX is available at www.softrax.com.
Vindicia brings enterprise-class innovation to consumer-facing subscription billing to help digital companies acquire and retain more customers by making payments seamless, secure and easy. Vindicia keeps customers connected to the subscription services they love, and companies connected to the subscription revenues they need. Vindicia has processed more than $21 billion globally and generates over $90 million in annual incremental revenue for clients. Clients include TransUnion Interactive, IAC, Bloomberg, Vimeo, and Next Issue Media. Vindicia was recently ranked the number one billing software solution on the market by Business-Software.com, and recognized as a “Top 100 Promising Tech Companies” by CIOReview magazine. For more information visit: www.vindicia.com.