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News < Back Sarbanes Oxley : Technology : Spend Management Manage Worldwide Financial Operations
Founded in 1900, Mergent is one of the oldest companies of its kind in the world, but their financial products, customer orientation and business models are uniquely up-to-the minute. In the past 100 years the delivery of financial information has changed from all print to a combination of online databases, data feeds, and still -- print. When customers buy a combination of these products, the result is a complex array of charges with different renewal and fulfillment processes that are subject to complex rules for revenue recognition. Mergent needed a solution that would present accurate bills to the customer, automatically manage all of the revenue deferrals and renewals, and trigger fulfillment of hardcopy reports. Their enterprise general ledger system wasn?t designed to do anything that complicated. According to Timothy Roche, Chief Financial Officer at Mergent, ?We saw a demo of Softrax and knew immediately that it had the detailed level of revenue management functionality required to meet our needs. Nothing else we?ve looked at has even come close. These processes, which we?ve been managing outside of our systems, will now be automated with even higher degrees of accuracy ? saving time, maximizing our renewal revenues, streamlining audits, and raising customer satisfaction to even higher levels.? ?We are very pleased to welcome Mergent as a customer,? said Gottfried Sehringer, VP of Marketing at Softrax. ?We understand the challenges that companies face as their evolving business models demand changes to financial processes and systems. The Softrax solutions provide depth of revenue management functionality that?s critical to an increasing number of businesses, but available no where else ? Mergent Mergent, Inc., a Xinhua Finance company (TSE Mothers: 9399) is the preferred provider of business and financial data on global publicly listed companies. Currently headquartered in Charlotte, NC and New York City, with sales offices in key North American cities, Mergent also has a strong global presence, with offices in London, Shanghai, Tokyo, Toronto and Sydney. Mergent?s databases contain detailed equity, debt and corporate action information on over 15,000 U.S. public companies, 20,000 non-U.S. public companies and all U.S. municipal bonds. For more than a century Mergent has been providing solutions to clients in the investment management, academic, research and corporate information fields. Today, that unique experience is combined with leading-edge technology to form a robust, diverse product line that operates under Mergent?s umbrella. These include; Mergent?s Dividend Achievers Indices ? the premier benchmark for long-term returns; Ford Equity Research ? a leading independent investment research firm; Mergent Online ? a powerful web-based research portal that provides critical business information to support daily research and analysis; Mergent Manuals, Handbooks and Investment Guides; BondSource ? which offers in-depth municipal and corporate fixed-income data, as well as end-of-day evaluation pricing; EventsData ? providing real-time information on corporate actions, dividend payouts, news and updates directly to clients desktops. For more information, visit our websites, www.mergent.com and www.dividendachievers.com Softrax 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 increase revenue, reduce costs, gain visibility into business performance, and comply with revenue recognition regulations and Sarbanes-Oxley requirements. Softrax Corporation, headquartered in Canton, MA is privately held. More information can be found at www.softrax.com and www.revenuerecognition.com 
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