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SaaS Revenue Recognition Provider Novadek Technologies Launches Operations: Revenue Lens Is Now Available
SAN JOSE, CA–(September 28, 2015) – Novadek Technologies, the leading luminary in revenue recognition solutions for mid-sized technology companies, today announced the launch of their operations as Novadek and the immediate availability of their flagship product, Revenue Lens. The product is a proven revenue recognition solution which is available as on-premise software, Tensoft’s Revenue Cycle Management (RCM) Suite. Revenue Lens will be delivered as a standalone SaaS (Software as a Service) solution to meet market demand and the needs of mid-sized information technology and services companies.
“Over the last five years, the tools, methodologies and openness of business applications have changed dramatically, making it possible to integrate to other business applications fully and cleanly in ways that make it much more appealing for mid-sized companies,” states Bob Scarborough, CEO, Novadek Technologies. “We’ve been working with multiple ERPs over the last few years – the Cloud is really what makes this ease of integration feasible. Most applications today have web services and standard integration points and are just generally more open. Because of this, Revenue Lens customers don’t have to commit to one accounting/ERP system forever. They can start with a solution that meets their needs now, and can change that later on.”
Revenue Lens delivers functionality to meet the complex revenue recognition, contract billing and fair value allocation needs of mid-sized technology companies. Key features include automated revenue recognition and contract billing management; support for multiple, simultaneous go-to-market models; customer delivery event tracking; change management; complete separation of revenue from the customer transaction process for complex sales and contracts; and, support for statutory compliance regulations such as GAAP and IFRS.
Revenue Lens is currently being offered in three packages, depending on the complexity and volume of the customers’ business: 200x, 500x and 1000x. The 200x version includes complete revenue recognition management functionality for smaller companies. The 500x version adds contract billing management and fair value allocation, plus a sandbox environment, auditor access and other features for companies with greater revenue management needs, but that are still operating as a single entity. The 1000x version is designed for multi-entity companies, and includes additional features such as workflow, advanced integration, and unlimited security roles.
About Novadek Technologies:
Novadek Technologies delivers SaaS (Software-as-a-Service) solutions that help mid-sized information and technology services companies handle the complexities associated with revenue recognition, contract billing and fair value allocation. Novadek’s Revenue Lens solution can be integrated with any accounting and financial application, allowing its customers to continue to use their system of record. The product’s unique revenue agreement functionality manages revenue separately from the accounting and financial applications, instead processing revenue data according to user-defined rules. The company is headquartered in San Jose, CA. For more information, please visit www.novadek.com or call 888-860-0552.