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 […]
Get to Know the DemandOps APIs
In a previous blog post, we covered some of the APIs in Tensoft SemiOps. Here is a list of Tensoft DemandOps APIs that you may find useful. GetBookings. This is a listing of bookings by customer and sales order. Bookings is the net change in a sales order value. For example, you book an order […]
Odata Connections: Microsoft Power BI & Excel
Microsoft Power BI is a highly popular topic during Tensoft’s Momentum conference. Below is a partial transcription of one such session that covered some of the API connections for Tensoft SemiOps and DemandOps. “First place we’re going to start is with our SemiOps APIs. What we see here at the top is the URL used […]
Overview of Microsoft Power BI
Tensoft hosted a customer- exclusive webinar “Reporting with Microsoft Power BI” at Momentum 2.0. This webcast provided a brief overview of Microsoft Power BI and a quick demo on setting up some data sources from Tensoft applications like SemiOps and DemandOps, and Microsoft Dynamics 365 Business Central. Below is a partial transcription of this presentation: […]