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SOFTRAX

SOFTRAX

Overview

What is SOFTRAX?

SOFTRAX provides automate billing and revenue recognition processes with leading software solutions for enterprise-level companies.

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Recent Reviews

TrustRadius Insights

Users have found great value in using this software for revenue recognition management. By moving away from Excel and into a more secure …
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Pricing

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Entry-level set up fee?

  • No setup fee

Offerings

  • Free Trial
  • Free/Freemium Version
  • Premium Consulting/Integration Services

Starting price (does not include set up fee)

  • $420 per month per user
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Product Details

What is SOFTRAX?

The SOFTRAX Revenue Management System (RMS) offers an approach to revenue management. The system combines automation for one-time, milestone, subscription, consumption, and renewal billing and complex revenue recognition to streamline the revenue management process and meet the demands of standards such as ASC 606 and IFRS 15. SOFTRAX integrates with existing ERP, CRM, CPQ, or home-grown systems.

SOFTRAX Features

  • Supported: Revenue Management
  • Supported: Revenue Recognition
  • Supported: Billing Management
  • Supported: Subscription Billing
  • Supported: Usage-based Billing
  • Supported: Milestone Billing
  • Supported: Renewal Management

SOFTRAX Videos

SOFTRAX Revenue Management System Overview
SOFTRAX Billing Manager Overview

SOFTRAX Competitors

SOFTRAX Technical Details

Deployment TypesSoftware as a Service (SaaS), Cloud, or Web-Based
Operating SystemsUnspecified
Mobile ApplicationNo
Supported LanguagesEnglish

Frequently Asked Questions

SOFTRAX provides automate billing and revenue recognition processes with leading software solutions for enterprise-level companies.

SOFTRAX starts at $420.

Zuora, Chargebee, and Recurly are common alternatives for SOFTRAX.
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Comparisons

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Reviews

Community Insights

TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!

Users have found great value in using this software for revenue recognition management. By moving away from Excel and into a more secure system that is constantly updated to changes in revenue recognition, users have been able to streamline their processes and save time and money. The software has proven to be effective in tracking deferred revenue and billing renewals, allowing users to maintain accurate revenue schedules and allocate revenue to multiple element arrangements. It has also eliminated the need for spreadsheets and reduced manual efforts, simplifying the entire process. In fact, reviewers have praised the Revenue Management module for its ability to handle complexities that other systems couldn't. Additionally, the flexibility of tiered price models in the Billing module has solved complex billing issues for users.

The software has not only made financial operations more efficient but has also increased confidence in financials by providing easily auditable records. Users who sell software through resellers or directly to customers have found the software to be invaluable in facilitating this process. However, it is worth noting that not all users currently use this software. Nevertheless, with the assistance of IT, users have been able to optimize system functions and minimize steps to further improve efficiency. Overall, the software has proven to be a reliable tool for managing revenue recognition, solving complex billing issues, and providing confidence in financials.

Effective Revenue Management: Users have appreciated the ability to effectively manage revenue, saving time and money on other products. Several reviewers have stated that the software has helped them streamline their revenue management processes.

Flexible and Customizable: The software's flexibility and cloud-based option have been highly beneficial for users. They have mentioned that it allows for customization based on their business model, providing them with the flexibility they need to adapt the system to their specific requirements.

Complex Billing Capabilities: Reviewers have praised SOFTRAX for its effectiveness in generating complex SaaS billings using multiple types of price models. This feature provides a great deal of customization to pricing by the sales team, allowing them to cater to different customer needs.

Difficult initial learning curve: Some users have found the initial learning curve of setting up Softrax to be difficult and time-consuming, requiring extra effort to become proficient in using the software.

Consultants lacking proficiency: Several users have mentioned that some Softrax consultants were not adequately knowledgeable about the software, resulting in a less than satisfactory experience for these users. This lack of expertise led to delays in problem-solving and hindered smooth implementation.

Clunky and rigid interface: Users have reported that the software can feel clunky and have too many steps to perform tasks, making it seem inflexible in certain areas. This rigidity can slow down workflows and make navigation more cumbersome than necessary.

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