`Tis the Season for Taxes: Softrax Helps Solve the Accounting Trail Madness for High Tech Companies.Business/Technology Editors CANTON, Mass.--(BUSINESS WIRE)--Jan. 31, 2002 CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Bob O'Connor Available to Speak on the Challenges of Recognizing Revenue and Addressing Accounting and Regulatory Compliance for the Rapidly Changing Technology Sector The recent Enron debacle launched the issue of reporting accurate revenue into the national spotlight, making the SEC increasingly concerned with inappropriate earnings management activities. With tax season in full motion, how can companies, particularly those in the more volatile high-tech industries, who require flexible business models, manage revenue generated by multiple sources? Take, for instance, the software, content and Internet sectors. Whether burgeoning, VC-backed and pre-IPO start-ups, established privately-held small businesses, or publicly-traded, multi-million dollar enterprises, all of these companies have dynamic and complex business operations. Untangling and streamlining all of their revenue activities is a mandatory daily task. Without automated, SEC- and FASB-compliant revenue management and reporting procedures, they are doomed to wreak havoc on their financial health and market success. Bob O'Connor, CEO of Softrax Corporation (www.softrax.com), a leading enterprise software company providing revenue management solutions, is available to discuss how Softrax' solutions promote and comply with FASB FASB See: Financial Accounting Standards Board FASB See Financial Accounting Standards Board (FASB). and SEC regulations. O'Connor is able to discuss how revenue management solutions help to facilitate the auditing process, enabling a number of key elements and processes to be standardized. For example: -- Revenue Recognition: This tool provides the accountant with a clear audit trail of how the company managed, allocated and recognized their revenue. The result is historical and future visibility for the auditor. -- Automated Maintenance Renewals: With this tool, the auditor can search, find and run reports for information on what is being used where and by whom - i.e. the non-hardware and software components of a multi-element contract. If you would like to arrange a media interview with O'Connor, please contact Meredith Vellines or Trish Gannon of Schwartz Communications at 781-684-0770 or e-mail softrax@schwartz-pr.com. About Softrax Corporation Softrax Corporation is a leading enterprise software company providing revenue management solutions that fundamentally change the way technology companies manage, analyze and predict their revenue streams. Expressly designed for the dynamic software, content and Internet sectors, Softrax systems are the best products to meet the complex revenue management business requirements of these industries. Softrax delivers business-critical solutions to hundreds of customers, including Vastera (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :VAST), Blue Cross Blue Shield's Companion Technologies, Computer Associates (NYSE NYSE See: New York Stock Exchange : CA), Interwoven in·ter·weave v. in·ter·wove , in·ter·wo·ven , inter·weav·ing, inter·weaves v.tr. 1. To weave together. 2. To blend together; intermix. v.intr. (NASDAQ:IWOV), Motive (NASDAQ: MOTV MOTV Manned Orbital Transfer Vehicle ), Visual Networks (NASDAQ:VNWK), and GEAC (Geac Computer Corporation Limited, Markham, Ontario, www.geac.com) A major Canadian software company acquired in early 2006 by Golden Gate Capital. Founded in 1971, and originally specializing in library automation, Geac is best known for its SmartStream financial, payroll and human (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :GAC GAC Great American Country GAC Global Assembly Cache (Microsoft .NET) GAC Global Assembly Cache GAC Granular Activated Carbon GAC Gustavus Adolphus College (St. ). Headquartered in Canton, MA, Softrax Corporation is privately held. Further information is available at www.softrax.com or 1.888. 4 SOFTRAX. Note to Editors: All product and company names mentioned herein are the trademarks or registered trademarks of their respective owners. |
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