SAN JOSE, CA – July 16, 2013 —Tensoft, a leading end-to-end Cloud ERP provider for software and technology companies, announced today the release of version 6.0 of its Tensoft Revenue Cycle Management (RCM) application suite. For many software and technology companies, the revenue cycle is complicated by revenue recognition rules, order management, complex recurring billing, contract renewals and regulatory restrictions. RCM 6.0 includes updates and enhancements that address industry-specific customer requests and market-driven enhancements which will especially benefit software companies and technology companies that have a software component.
“In a few words, the major enhancements in Tensoft RCM 6.0 are all about delivering more information, presented more simply,” said Tensoft President and CEO Bob Scarborough. “We are committed to helping our customers to accurately track, realize and utilize their revenue. The RCM suite remains a priority for Tensoft, and we will continue to release incremental functional upgrades over the next few years to quickly add customer-requested and market-driven capabilities to the product line.”
The Tensoft RCM Suite 6.0 enhancements include:
Enhanced Billing Functionality, including multiple “post-to” options; the ability to over-ride bill dates and back-post to contracts; and new billing codes, which allow customers to better-analyze revenue and understand the types of revenue that drive their business.
A Period-of-Performance (POP) Reconciliation Utility that allows customers to look at Contract Invoice POP and see how this might change (or not change) as revenue agreements are created, based on contract information.
Other key enhancements include:
New reporting options and analytical views
Improved security
Optimized revenue agreement flow to allow revenue to be pulled into the system in five different ways
Additional compliance capabilities
A new streamlined revenue agreement – with drilldowns into compliance fair value allocation (audit report), as well as other revenue agreement functions (such as the revenue agreement specific forecast).
Easier-to-use screens, with multiple drilldowns
Streamlined revenue agreements with the ability to drill down to both compliance details (how re-allocations occur) and original source documents
To learn more, new customers can contact Tensoft directly at marketing@tensoft.com or call (888) 450-4030 x406. Existing Tensoft RCM customers can register here for a free training webcast, “What’s New in RCM/RDM?” scheduled for July 18, 2013 at 10 AM Pacific Time, or contact customercare@tensoft.com for a complete list of enhancements.
About Tensoft RCM
The Tensoft Revenue Cycle Management (RCM) family of products brings together the specific revenue recognition, recurring billing and contract management functionality that today’s technology companies need. This suite of modules completely automates the complex revenue recognition and management cycle, and replaces spreadsheets and double-entry processes with a fully integrated and auditable revenue management solution. The product comes in three different configurations: RCM, RDM or RDM/D, depending upon a company’s business model. The right fit is critical to achieve maximum revenue recognition productivity improvements.
About Tensoft
Tensoft provides business management applications to automate industry-specific lifecycle processes for the semiconductor, technology and software industries. Tensoft’s business-ready solutions extend broad, horizontal ERP functionality to complete the most vertically demanding, high-tech needs through critically relevant content, domain expertise, embedded best practices and performance analytics. For over 17 years, technology companies worldwide have relied on Tensoft software and cloud-based services to power and improve their operations. Tensoft is headquartered in Silicon Valley with sales and support offices throughout the U.S., Europe and Asia. For more information, go to www.tensoft.com or call (888) 450-4030 x406.