ASC 606 Solutions for the Professional Service Industry
ASC Topic 606, Revenue from Contracts with Customers, adds a new series of hurdles for businesses with the new five-step framework to the revenue recognition process. With the expansive challenges to financial reporting and internal control systems the new standard poses, companies need to consider the best revenue recognition solution for them with capabilities to […]
The Impacts of Continuous Accounting and How to Support It
This blog post is part two of the two-part blog series “The Future of Finance.” The goal of achieving a more strategic finance and accounting function in a corporation has led to the rise of Continuous Accounting. Catch up with part-one of this two-part blog series. The webinar, “The Future of Finance,” held on November 18th, […]
What Is Continuous Accounting and What Are the Benefits?
Continuous accounting is a key factor to achieving a more strategic finance and accounting function in a corporation. And yet, many accounting organizations have fallen back and are reporting an increased use of spreadsheets.
The Effects of Recurring Revenue Business Models on Revenue Recognition
SOFTRAX partnered with Aria Systems in the summer of 2021 for the live webinar, “Recurring Revenue Ripples Through Revenue Recognition” to discuss how agility in serving customers with recurring revenue business models and precision and flexibility in revenue recognition go hand in hand. Senior Vice President and General Manager, Tom Zauli of SOFTRAX hosted this […]
ASC 606 and Challenges to the Healthcare Industry
It’s no surprise that the healthcare industry is facing unique and disruptive challenges that are affecting areas such as productivity, revenue cycle, and supply chain on a major scale. Given the current market, healthcare entities may find themselves strapped for resources ranging from supplies to staff, grappling with changes to insured populations, or even struggling […]