Revenue Recognition: Have It Your Way

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Novadek (a Tensoft company) has released a major new version of its SaaS revenue recognition product, Revenue Lens 2018.  For customers running on-premise versions of Microsoft Dynamics, Tensoft has released the on-premise counterpart of Revenue Lens 2018, Tensoft RCM 2018.  Customers get the same great functionality in either product.  So now you can enjoy the benefits of Revenue Lens/RCM, no matter what ERP or accounting system you run!

One of the new enhancements is the ability to create revenue agreements independently of your ERP or accounting system.  The benefits of this design are substantial.  By creating revenue agreements directly from contract billings, a tighter link is created between the contract module (where information like invoice numbers and period of performance exist) and the revenue agreement module.

In addition, Revenue Lens/RCM customers report that the contract pricing update and upload tool really streamlines how they manage their existing contracts.  The key benefit of this tool is that it allows customers to upload revisions, so that they can update them as needed.  In Revenue Lens/RCM, this feature is even more user-friendly than in the previous version.  More controls have been added to define what data can be updated, improving the ease with which existing contracts can be revised.

And, of course, as Revenue Lens/RCM has evolved, so has the technology stack that supports it.  Therefore, in this new version, the minimum technology requirements are:

• Microsoft .NET Framework version 4.5
• Microsoft SQL Server 2014 STD/ ENT 64 bit
• Windows Server 2012 STD/ ENT

Upgrading to a current SQL server and .NET interface not only supports software technology but enhances security, productivity and performance as well.

The introduction of an ERP-agnostic integration model is another change in this version of Revenue Lens/RCM.  Now customers, items, revenue agreements, etc. are managed through a standard web service.  This enables a more flexible, easier integration with most popular ERP or accounting systems.

One planned enhancement for the next feature pack release is the ability to modify the overall values of an existing revenue agreement in Revenue Lens/RCM.  This feature has become increasingly important under the new ASC 606 standards.  Users who have contracts with large multi-element arrangements will appreciate this benefit.

For more information:

If you’d like to learn more about Revenue Lens or Tensoft RCM, please visit Tensoft’s website, or contact us.

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