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 Revenue Recognition Can Help Align Sales and Finance (Instead of Pitting Them Against Each Other in a Spiral of Death)
Revenue recognition – and the finance team that applies it – often ends up being the bane of creative sales deals, seen as cramping the sales department’s ability to maximize the amount of money that they bring in the door. This is the natural result of the very different goals of finance and sales. Finance […]
How to Manage Your Complex Billing and Subscription Needs
Are you looking for a solution that captures all your contract billings in one place and manages it per its customer agreement? Do you need functionality to handle your various billing models including recurring billing, milestone billing and usage billing? Then Tensoft Revenue Lens might be perfect for you! This family of cloud applications includes […]
Using Excel for Revenue Recognition Tracking?
Excel spreadsheets play a big part in how many companies do business, especially in accounting and finance departments. However, using spreadsheets for critical processes in your business can be risky. Watch this short video by Tensoft’s Customercare Manager, Anne Phan, to see some of the risks you should be aware of when you use spreadsheets […]
Managing the Requirements for Multinational Operations at Start-ups and Smaller Companies
Tensoft has been located in Silicon Valley for many years, and over time I have observed the development of this hub of technology companies. Despite growing costs, Silicon Valley has remained the central location for high tech for many reasons, including the mobility of information, funding, support systems, people, and culture. However, for a variety […]
Tensoft Revenue Lens in 2 Minutes
Tensoft Revenue Lens can help your company get rid of lack of visibility over your contract statuses, prepare your revenue reports for audit visits, and ditch the error-prone spreadsheets. With Tensoft Revenue Lens, your company can enjoy smoother processes, less errors, and better revenue reporting. For a quick overview of Tensoft Revenue Lens, we’ve created […]
Contract Billing – What’s the Big Deal?
We recently spoke with the Revenue Manager of a mid-market information technology and services company about their revenue recognition process. Her company sells hardware, software, services, and support, in various combinations. These may be sold directly through the channel and on an e-commerce platform. Each of their sales orders has many moving parts including billing […]
ASC 606, Potential Impacts to Your Business Model: Part 3
The last in the series on the ‘Impact of ASC 606’ that a re-seller or a distributor business should be aware of with potential impacts to their business model is: “Modifications and Amendments to Contracts.” [The following is a partial transcription from the webcast, “Implementing ASC 606: Potential Changes to Distributor and Reseller Based Revenue […]