Press Release: ThreatTrack Security Chooses Tensoft® Revenue Cycle Management (RCM) to Streamline its Revenue Recognition Processes
SAN JOSE, CA – October 24, 2013 —Tensoft a leading end-to-end Cloud ERP provider for software and technology companies, announced today the signing of an agreement with ThreatTrack Security, Inc. of Clearwater, FL, a leading cybersecurity software company. Tensoft will deploy its Tensoft Revenue Cycle Management (RCM) solution at ThreatTrack Security to strengthen the company’s revenue management processes.
“As a global software company with several solutions lines, different pricing, licensing and subscription models, partnerships with resellers, retailers and other IT companies, there are a host of different revenue recognition methodologies required in our financial operations,” said Eric Frantsvog, ThreatTrack Security’s Finance Director. “We needed a solution that can handle omni-channel contract management in a streamlined and auditable fashion. Tensoft RCM fits the bill.”
“We’ve found that software companies, like ThreatTrack Security, are increasingly turning to Tensoft RCM for a 360-degree view of their revenue cycle management process” said Bob Scarborough, Tensoft President and CEO. “ThreatTrack Security’s myriad revenue streams and rapid growth made accounting a logarithmically growing challenge. A reliable, automated, and auditable revenue management software system, like Tensoft RCM, allows the company to accurately capture and report on all revenue.”
About Tensoft RCM
The Tensoft Revenue Cycle Management (RCM) family of products 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. Its hierarchical contracts repository manages multi-element arrangements with diverse billing schedules that can span perpetual, renewal, subscription, milestone, event and usage-based models. The product’s rules-based, revenue sub-ledger simplifies deferred revenue schedules originating within ERP, CRM and e-commerce applications. RCM offers determination, recognition and application support for U.S. GAAP and FASB standards spanning SOP 81-1, SOP 97-2 & 98-9, SAB 101, and EITF 00-21, EITF 08-01 and EITF 09-03.
About ThreatTrack Security Inc.
ThreatTrack Security specializes in helping organizations identify and stop Advanced Persistent Threats (APTs), targeted attacks and other sophisticated malware that are designed to evade the traditional cyber-defenses deployed by enterprises, and small and medium-sized businesses (SMBs) around the world. The company develops advanced cybersecurity solutions that analyze, detect and remediate the latest malicious threats, including its ThreatAnalyzer malware behavioral analysis sandbox, VIPRE business and consumer antivirus software, and ThreatIQ real-time threat intelligence service.
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 operations. Tensoft is headquartered in Silicon Valley with offices throughout the U.S., Europe and Asia. For more information, go to www.tensoft.com or call (888) 450-4030 x406.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.