Subscription providers should be ready for the FTC’s Click to Cancel Provision
Businesses offering subscription-based goods and services should be paying close attention to the FTC’s proposed Click to Cancel rule that would make it easier for customers to cancel subscriptions. The rule comes after complaints of consumer difficulty in canceling subscriptions, especially those subscriptions procured through a third party. The FTC’s rule would allow the consumer […]
Where are the Auditors: ASC 606 and Recognizing Subscription Billing Revenue
Since ASC 606 and IFRS 15 have taken effect, auditors, particularly in the private sector, have had a soft touch in enforcing some of the most complex portions of the guidance. Many companies moving to subscription bill models are not even aware these complexities exist. With the rise in comment letters seen in 2022, and […]
Can Your Business Handle the “Subscription Billing Pause”?
The subscription market continues to thrive despite inflation and changing economic conditions, with consumers valuing subscription services for convenience and choice. What has changed are customer expectations of membership and billing options, with more consumers wanting the ability to pause a service. A study from PYMNTS found that 60% of merchants allow subscribers to pause […]
Mitigating the Impact of Subscription Billing with Modern Revenue Management Solutions
How to manage the challenges behind the subscription-based business model with leading revenue management software solutions. Trends from the past years consistently show that buying preferences have shifted from ownership to usership. This presents incredible revenue growth opportunities for subscription businesses and those looking to adopt the subscription business model. It also presents new and […]
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 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 […]