Press Release – News Mag Revenue Recognition launch

SOFTRAX Announces New Website To Help Business Understand ASC 606 and IFRS 15 Regulations

Revenue Recognition Automation Software Will Rapidly Pave the Way for Back Office Success.

BOSTON – Sep 18, 2018 – Softrax, a division of AFS Technologies, the leading revenue recognition software company today announced the launch of an invaluable resource for business accounting specialists making the transition to ASC 606 and IRFS 15 compliance. The regulations that went into effect in January of this year require accounting departments to take action for upcoming filings in respect to the way they recognize revenue.

In order to help big business understand the requirements and SEC regulations, SOFTRAX created[1] to provide up-to-date news, SEC notes, tips, and resources for implementing ASC 606. Due to the complexities of this regulatory change, this web portal will stand as an excellent resource for any firm wanting to succeed in the face of the new accounting rules.

Softrax has been a leading industry player in revenue recognition needs over the last 15 years, helping companies automate their processes and it only made sense to continue our leadership in this space. Ian Faith, Snr VP of Marketing said, “We understand that things are getting more complex due to regulatory changes, new accounting rules and the way revenue is being recognized in the new economy. There has been a shift to an ERP augmentation approach to eliminate customs and spreadsheets, but where does a firm begin for automation? We have created this new resource to help companies survive the transition with success.”

About Softrax
Softrax is a leading provider of revenue recognition software, helping enterprise level companies comply with the new standards, ASC 606 and IFRS 15. With Softrax solutions, companies can regain control and implement the new revenue recognition standard with confidence. Softrax solutions seamlessly augment existing ERP and financial systems to support existing and coming revenue guidance, reduce operating expenses, and gain unprecedented visibility into business performance. To learn more, please contact Softrax at 972-715-4028 or visit visit[2][3]

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