How to Manage Revenue Agreements in Tensoft Revenue Lens

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When you make a sale there is a record of the sale. The sale could be online or in app, it could also exist in your financial or CRM solution. The sales transaction is used for receivables and customer account management. It is usually closed out in your applications when the account and collection processes are completed.

A revenue agreement is a document to manage your deferred revenue. Your sales documents create the revenue agreements. Sometimes transformation is required between what your sale looks like and how your deferred revenue will be managed. Revenue rules by line on the sales document are also needed to define how the deferred revenue will be recognized.

With Tensoft Revenue Lens, you can manage your deferred revenue once it has been transformed into a revenue agreement. It allows you to make certain changes like edit the start date, end date, put it on hold or take it off hold. The revenue agreement remains active and available as long as revenue remains to be recognized.

Revenue Lens has audit trails. You can see the history for these documents - who made the change, when they made the change, and the reason why things changed. This is a huge help for external audits and internal controls, and gives you the confidence that revenue is being well managed.

View the short demo video below:

For a product demo of Tensoft Revenue Lens, contact us today.

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