In Tensoft DemandOps, you can setup different document types. These include the standard document categories like invoice, order, return, quote, etc. After creating the document category, you can assign a numbering scheme to it. This numbering scheme shows up on reports and is useful for tracking based off the document type. For example, you have […]
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 […]
Top 4 Benefits of Tensoft’s New Launch Portal
Tensoft recently introduced a new login portal for its applications, offering a single location to access all licensed applications. Currently, it includes DemandOps and Revenue Lens applications. Tensoft SemiOps will be added by the end of the year. This portal allows you to manage users and their access levels consistently and enhances security. Here are […]
Revenue Recognition and Your Go to Market Model
How does your company go to market (GTM)? For many financial leaders this is a new question to consider, especially in regards to its relationship to revenue recognition. In my experience, this is actually a critical understanding, impacting everything from the business solutions you use to the productivity of your company. For technology companies, revenue is […]
Benefits of Using Service Items in Tensoft DemandOps
Service items are useful to simplify the process of creating and invoicing orders for non-inventory items that need to be included in a Sales Order. These may be items like engineering services, warranty fees, prepayments and NRE’s. In Tensoft DemandOps, there is the functionality to flag a saleable part as a Service item and by […]
You’re Invited to Momentum, Tensoft’s Customer User Conference
We are excited to announce Momentum, our virtual user conference, for all Tensoft customers. This event offers 3 days of complimentary training sessions led by product experts to discover new features and best practices. The conference will be held from Tuesday, September 17 to Thursday, September 19 and feature sessions on Tensoft SemiOps, DemandOps, Revenue […]
Managing Deferred Revenue Change in Tensoft Revenue Lens
Below is a full transcription of the video above: “I’ll show you the Change Report in Tensoft Revenue Lens. This report gives you an overview of the activities in the deferred revenue account. For this period, we are looking at the month of May 2022. So, we’ll use the prior period end date and the […]
Packing Labels for Reels in Tensoft SemiOps
One of the main functionalities that we have in Tensoft SemiOps is the generation of forms like packing slips and shipping labels during the shipment of finished goods to customers. If you need to print any labels before a shipping label, then you can do that too. For example, you need to create a product […]
Month-End Close: Cost and Variance Analysis in Tensoft SemiOps
Most companies in the semiconductor industry typically use the Standard Costing method and so we have a great deal of experience using it. In fact, Tensoft SemiOps uses the Standard Cost model. You set up a goal or standard for what you expect to pay your vendors or what you expect the output yield to […]
OrthoFi Manages Complex Revenue Recognition with Tensoft
Editor’s Note: This blog post was originally published on October 28, 2020. OrthoFi, a tech enabled service for orthodontic practices based in Denver, Colorado, needed a trusted solution to manage their complex revenue recognition system. After evaluating both, internal and external options, they decided to implement Tensoft Revenue Lens. Anne Richard, the Controller at OrthoFi, […]