We are pleased to announce Momentum, Tensoft’s exclusive online user conference, offering three days of free training from product experts. Hosted from May 13 to May 15, this event will cover sessions on Tensoft SemiOps, DemandOps, Revenue Lens and Microsoft Dynamics 365 Business Central. Customers can gain insights into product updates, discover best practices, and […]
Revenue Management in Tensoft Revenue Lens
Below is a full transcription of the video above: “So once a revenue agreement is created, then you’re going into ongoing management process of a revenue document. Most of the time you wouldn’t edit a revenue agreement after it’s created. That would generally an anomaly. This may happen when there’s a contract modification after the […]
How to Turn a Contract into a Revenue Agreement
Once you have the contract in the system, then you turn it into a revenue agreement. This is where fair value might come into play depending on the situation. Similar to defining a contract, you will need to discuss this with your auditors or put an accounting lens on to determine if each line on […]
How to Define a Contract and Get it into Tensoft Revenue Lens
ASC606 defines a contract as an agreement with a customer. It is an enforceable contract that’s been approved and it’s probable that you’re going to collect the fees from the customer. There is specific accounting guidance on that, and you have to go through it when you’re thinking about defining the contract in Tensoft. Tensoft […]
How to Update & Add Businesses to Tensoft Revenue Lens Using API
Watch the demo below to learn how to update and add businesses to Tensoft Revenue Lens using an API. To learn more about Revenue Lens and its functionalities, view this fact sheet.
Value of Workbench in Tensoft Revenue Lens
The workbench in Revenue Lens is a landing spot where all incoming documents come to be processed. They can come from an API or an Excel upload, or we can create a manual document directly into the workbench. You may want integrations to work perfectly, but you don’t build a system for perfection. You build […]
Why Contract Billing is Harder than Subscription Billing
Subscription billing management isn’t easy – no question about it. The subscription model is about building, optimizing, marketing and selling packaged offerings. It’s repeatable and it’s often high velocity. These packages may have some components that create some complexity to the billing process – maybe a bundle of services, or some offerings may be usage-based […]
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 […]
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 […]
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 […]