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 […]
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 […]
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 […]
SMB With “Big Data” Challenges? You’re Not Alone
If you’re an SMB (Small and Medium sized Business) with “big data” challenges, you’re probably like many of Tensoft’s customers – trying to find key and actionable information in a sea of data. You have sales information, customer information, inventory information, revenue information, details about customer contracts and future billings. But wait a minute, you’re […]
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 […]