The workbench in Revenue Lens is a landing spot where all incoming documents come to be processed. They can come from an API or an Excel upload, or we can create a manual document directly into the workbench. You may want integrations to work perfectly, but you don’t build a system for perfection. You build […]
Best Practices for Using API Calls for SemiOps & DemandOps
During Momentum, I covered a session on API calls for SemiOps and DemandOps focusing on the reporting APIs. The agenda included how to connect to the APIs, how to use them, the performance considerations, and a walk through of advanced querying using the Power Query tool on Microsoft products. Both SemiOps and DemandOps have APIs, […]
Revenue Recognition Challenges in the Software Industry
Recognizing revenue can be particularly challenging in the software industry. The challenges can arise from the sales process, the volume / complexity of the sales transactions, the number of inputs required in the revenue process, or from the appropriate accounting standards that apply to your business. Occasionally you may have all of the above! I’ll […]
How Tensoft Revenue Lens Supports the Five-Step Revenue Recognition Model
By now, the five-step revenue recognition model for recognizing revenue under ASC 606 is familiar to most accountants. The five steps of this model are: 1) Identify the contract with a customer; 2) Identify the performance obligation in the contract; 3) Determine the transaction price; 4) Allocate the transaction price; and, 5) Recognize revenue as […]
SMB With “Big Data” Challenges? You’re Not Alone
If you’re an SMB (Small and Medium sized Business) with “big data” challenges, you’re probably like many of Tensoft’s customers – trying to find key and actionable information in a sea of data. You have sales information, customer information, inventory information, revenue information, details about customer contracts and future billings. But wait a minute, you’re […]
How to Compute & Post Revenue in Tensoft Revenue Lens
Month end revenue recognition is straightforward with Revenue Lens. Your sales have been transformed into revenue agreements. Computing and recognizing revenue is fast and accurate. Tensoft Revenue Lens simplifies revenue recognition and reporting. It automates your revenue recognition process and makes it as easy as “Compute, Post, Report”. With the APIs, you can use any […]
How to Onboard Documents into Tensoft Revenue Lens
Adding Tensoft Revenue Lens to your financial systems requires two tasks. The first task is to set up our application. The second task is to bring your sales into Revenue Lens. The ideal is to capture the sales data where it occurs and to move that into Revenue Lens. Your sales may happen online, or […]
A Quick Overview of Tensoft Revenue Lens
Subscription companies, companies with deferred revenue, usually start by managing revenue in Excel. Revenue recognition in a spreadsheet makes sense when you are a small company because it’s a small data set, material, less revenue going through the system and fewer transactions. When your company starts growing revenue management gets complicated. Sometimes the challenge is […]
Revenue Recognition: Five-Step Model
We all know that the new revenue recognition standard’s rules are in effect for the public companies. So how do the Tensoft revenue recognition solution fits into this new model? Tensoft Revenue Lens, is equipped to handle the variable consideration and contract modifications through the ability to update transaction price of the contract when estimates […]
How to Connect to Tensoft APIs with Excel and Power BI
In this blog post, I’ll cover how to connect to Tensoft SemiOps and DemandOps API’s with Excel and Power BI. This is highly beneficial for users who prefer to create their own custom reports or Power BI dashboard using raw data over canned reports. We have created a list of APIs – 12 for SemiOps […]