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 […]
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, […]
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 […]
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 […]
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 […]