GlobalEnglish Selects Softrax for Global Revenue Management
Leading Provider of Online English Learning Services for Worldwide Companies Selects Softrax to Automate Revenue Recognition and Complex Billing In Multiple Currencies
Canton, MA, November 15, 2006 — Softrax Corporation, a leading provider of enterprise billing and revenue recognition solutions, today announced that GlobalEnglish Corporation, the leading online English learning and support provider for business communication has selected Softrax to automate its financial infrastructure. GlobalEnglish will deploy Softrax to automate its complex contract management, billing, revenue recognition, and multi-currency accounting.
GlobalEnglish customers are global companies who purchase training for thousands of employees in dozens of countries, for multi-year terms. Customer subsidiaries in virtually any country must be able to activate employee training on a per user basis from the master contract at any time. As a result, the financial accounting for GlobalEnglish is complex -- requiring highlyflexible, customizable billing of subsidiaries in local currencies, with deferred revenue recognized in US dollars.
According to Marci Davis, GlobalEnglish Controller, "We chose Softrax solutions because they are unique in their ability to handle very complex billing and revenue recognition automatically, as well as the multi-currency accounting capabilities we require. We expect our operational efficiency to accelerate with the Softrax solutions in place."
"Companies that provide great flexibility to their customers increasingly find themselves in need of billing and revenue management solutions that can automate these processes on a global scale, "said Gottfried Sehringer, Vice President Marketing, Softrax. " We look forward to working with GlobalEnglish and trust that our experience will be an asset in the relationship."
Softrax Corporation is a leading provider of enterprise billing and revenue management software solutions that fundamentally change the way companies manage, analyze, report, and forecast their revenue. Softrax solutions automate the entire revenue cycle, from complex billing and contract renewals, through revenue recognition, reporting and forecasting. Hundreds of corporations benefit from using Softrax to maximize their revenue, reduce operating expenses, comply with revenue recognition regulations and Sarbanes-Oxley requirements, and gain unprecedented visibility into their business performance. Softrax Corporation, headquartered in Canton, MA is privately held. More information can be found at www.softrax.com, www.revenuerecognition.com, and by calling 1.888. 4 SOFTRAX.
Softrax is a registered trademark of Softrax Corporation. Other company, brand and product names, and design work are the trademarks or registered trademarks of their respective owners.
About GlobalEnglish Corporation
GlobalEnglish is the leading provider of online assessment, learning and support for Business English communication for the world's top companies. The company offers a suite of scalable, on-demand products that help employees improve their ability to communicate effectively in English and enables companies to succeed in the global marketplace.
GlobalEnglish is proudly made up of a team of global consultants who partner with clients to assess their Business English needs, ensure successful implementation and provide ongoing local support to over 30 countries worldwide.
GlobalEnglish is the preferred choice of the world's largest companies, including BNP Paribas, Capgemini, Cisco, Deloitte, Deutsche Telekom, GSK, Hewlett-Packard, Hilton, John Deere, Procter & Gamble, Unisys and Wyeth.
For more information, please visit www.GlobalEnglish.com.