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, […]
Five Key Benefits of Tensoft DemandOps
High-tech product companies that sell through a distribution-based model often require a demand management solution that captures and manages demand signals for the entire process from finished product to end-customer. Tensoft’s demand management solution, Tensoft DemandOps – a purpose-built SAAS application – delivers both. Of the many benefits that Tensoft DemandOps offers, here are five […]
Understanding Part Types Used by Tensoft
The different part types used in Tensoft SemiOps & DemandOps offer a lot of flexibility to end users to track and report parts, orders and invoices. It allows you to name and market the parts in a more customer friendly manner and be able to adapt to customers naming their own parts that are mapped […]
Dashboards in Tensoft Revenue Lens
In Tensoft Revenue lens, we have a few different dashboards to give you a quick overview of your data: Revenue Dashboard: The revenue dashboard shows the revenue recognized each month. It also displays pie charts of your top customers, top rule types, and top selling items. New Agreements Dashboard: With the new agreements dashboard, you […]
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 […]
Revenue Management Module in Tensoft DemandOps
In Tensoft DemandOps, we have a revenue management module that includes currency conversion subscription, net revenue tracking options, revenue management API, etc. The following provides a brief overview of some of these features: Net Revenue Setup We realize that for accounting purposes sometimes you need to know what your actual revenue will be. So, we […]
Received Not invoiced (RNI) Report in Tensoft SemiOps
Received not invoiced (RNI) in Tensoft SemiOps represents Production Releases which have been fulfilled by vendors through the receipt screen, but the AP invoices for these goods/services have yet to be sent or acknowledged. When a receipt is created in SemiOps, inventory is debited, and the accrued purchase account is credited. When users eventually get […]
Overview of Bookings, Billings and Backlog Reporting
Here is a quick overview of bookings, billings and backlog in Tensoft SemiOps and DemandOps: Bookings Booking is an order that is entered in DemandOps and any update to it is the booking change. The bookings are based off of sales order entry date. If you go into any order and click on the information […]
Why Consider Supplier Integrations with Tensoft?
We at Tensoft are often asked how our products can integrate with suppliers in semiconductor supply chain and how we can help them with streamlining their inventory management and financial reporting? Types of Supplier Integration Tensoft offers 2 levels of integration. These are within the SemiOps application where the manufacturing processes are tracked in detail. […]