A revenue management system (RMS) software solution helps companies track, analyze, and optimize their digital commerce revenue streams. These tools are essential for businesses using a SaaS subscription billing platform or other recurring models. An RMS automates critical billing and payment processes like revenue recognition, contract modification management, and compliance with ASC 606 and IFRS 15 standards.
In recent years, RMS adoption has surged, with its market projected to reach $55.33 billion by 2031—a clear sign of its growing importance in business operations.
One popular solution is SOFTRAX, an RMS that automates revenue recognition and recurring billing. It supports contract renewal management and compliance with ASC 606 and IFRS 15. The software also boasts system-wide automation and integrations with existing CPQ, CRM, and other tools to drive operational efficiency.
While it’s a competitive option, SOFTRAX may fall short in certain areas. User reviews on platforms like G2 highlight challenges, such as complex initial setup, a clunky user interface, and system performance issues. Still, many users acknowledge SOFTRAX’s ability to handle complex transactions and deliver effective reporting.
So, businesses looking for different features, pricing, or scalability may find a better solution through SOFTRAX competitors.
Understanding the Limitations of SOFTRAX
SOFTRAX can offer impressive capabilities in handling some businesses’ invoicing, revenue recognition, and billing processes. Despite these features, according to G2 reviews, users report several challenges that prompt them to explore alternatives.
These include:
- Technical gaps: Users complain about outdated architecture and limited API support, forcing them to rely on obsolete upgrade methods or excessively manipulate Excel data.
- Scalability issues: The software struggles to meet the needs of high-growth businesses. It may lack the infrastructure to handle the volume or complexity of revenue management data, demanding modifications or upgrades. (Source: MGI Reasearch Automated Revenue Management (ARM) Buyer’s Guide 2024)
- Integration challenges: Some note incompatibility issues with modern ERP or CRM platforms, with too many steps to complete specific tasks or processes. The software may need complex modifications to support certain integrations.
- Compliance concerns: The subscription billing suite has gaps in automation for ASC 606 and IFRS 15 reporting, requiring complex integrations to adhere to standardized revenue guidelines.
Overcoming some of these challenges often demands customizations, which can be complex, costly, and time-consuming. This steepens SOFTRAX’s learning curve and investment, extending the software implementation process beyond expectations and impacting the return on investment (ROI). Accordingly, some businesses feel compelled to seek alternative recurring revenue management software.
Key Considerations When Choosing a Revenue Management System
The success of any RMS implementation starts with choosing the right solution. Companies must understand their unique needs and processes to find the best fit.
Here are the key factors businesses must evaluate when selecting an RMS:
- Scalability: The revenue management system must scale with your business—especially important for companies offering recurring or usage-based billing subscriptions. It should support growing data, user volume, and transaction complexity without compromising user experience or system performance.
- Integration: A good solution must support integrations with popular and existing tools, like Salesforce CRM and other CPQ and billing tools. This is vital for automating processes and centralizing revenue operations to ensure cohesion and optimal visibility.
- Ease of use: Whether it’s a subscription billing software or a subscription management platform, the solution should be intuitive and user-friendly to prevent steep learning curves. Simpler implementation encourages better team adoption and smoother transitions.
- Pricing: Opt for a revenue management platform that offers custom pricing tailored to the company’s needs and factors like volume, complexity, and features. The pricing can be consumption- or subscription-based to keep the company in control of the costs.
It’s not uncommon for companies to face RMS challenges when the solution doesn’t align with their needs. For instance, the software may fail to integrate with existing or future tools, demanding costly customization or integrations. Or, it can be clunky and complex for users, dampening adoption and productivity.
When to Consider an Alternative
SOFTRAX is a solid solution that streamlines and automates billing and revenue processes to ensure effective revenue management. But it may fail to work for all cases. Here are some hypothetical scenarios that may compel companies to seek an alternative:
- Scenario 1: As the company expands and grows, SOFTRAX may struggle to keep up with the increasing workload. Users report sluggish performance when running processes, and the team frequently deletes or transfers files to free up storage for new data, hampering efficiency and resulting in delays.
- Scenario 2: The company adopts new tools like Salesforce and NetSuite to boost operational efficiency but faces challenges when integrating them with SOFTRAX. The process demands extensive, costly customizations and occasional performance issues arise during operations, disrupting workflows.
In situations like these—where reporting, efficiency, and productivity suffer—exploring SOFTRAX alternatives, especially those that support subscription management software and handle recurring billing subscriptions, could be a strategic move for optimizing digital commerce revenue streams.
Top Alternatives to SOFTRAX
When exploring SOFTRAX competitors for flexible revenue recognition workflows, here are the top alternatives for companies to consider.
RightRev
RightRev is an automated revenue recognition software solution that simplifies complex processes, offers real-time revenue insights, and ensures ASC 606 and IFRA 15 compliance. The software is available as a standalone solution and as a Salesforce-native application, giving companies the flexibility to choose the best fit for their needs.
RightRev tracks all revenue contracts and streams—from revenue contract creation to GAAP reporting—to streamline and automate recognition. It handles complex tasks like tedious SSP calculations, contract modifications, and forecasting, freeing up accounting teams to focus on high-value, strategic tasks.
Key features:
- Rule-based engine: RightRev supports configurable revenue rules to match unique performance obligations without coding. Companies can set custom revenue recognition rules for one-time sales, recurring revenue, services, or hybrid models to simplify recognition.
- Data visibility: Accounting teams get real-time revenue insights, enabling data-driven decision-making and putting them in control of every revenue recognition scenario—whether simple or complex.
- Scalability: The revenue management system handles high-volume transaction throughput, allowing companies to scale and manage increased workloads without disruption. Customers like Epicor, Snowflake, and CDK Global opted for RightRev to manage their high-volume revenue transaction needs.
- Analytics and reporting: With RightRev, there’s no more scrambling at month-end to pull reports—the data is always ready to allow finance teams to close books faster. It also offers pre-calculated metrics to enable ad hoc reporting.
- Compliance and security: RightRev automates ASC 606 and IFRS 15 compliance to deliver accurate revenue recognition processes and reporting. The platform also adheres to SOC1 and SOC2 standards to ensure data security and reliability.
Best fit: RightRev is ideal for companies operating a SaaS subscription model or other recurring revenue models across media, technology, and telecom industries. It’s especially useful for businesses that need precise control over customer and subscription attributes and revenue workflows.
Pricing: RightRev offers custom pricing tailored to a company’s needs, taking into account two factors: Annual revenue and use case complexity.
Zuora Revenue
Zuora is a fully automated revenue recognition solution for complex revenue streams and cycles. It integrates with existing workflows and tools like NetSuite and Workday to automate processes and simplify audits and compliance. The software supports subscription revenue, hybrid revenue, promotions, and bundles.
While Zuora is a good SOFTRAX alternative, it’s costly compared to other solutions. It also runs batch-initiated processes, which can temporarily strain system resources and deny teams real-time insights for effective customer subscription management.
Key features:
- Automation: The software automates revenue recognition, SSP analysis, and ASC 606 & IFRS 15 compliance, eliminating manual effort.
- Powerful analytics: Zuora Revenue offers numerous out-of-the-box reports and dashboards for revenue analytics, allowing teams to stay on top of every process.
- Integrated billing and revenue: Accounting teams can capture billing events and streamline the revenue process from new customer signups to upsells and renewals.
Best fit: Zuora Revenue suits subscription-based businesses—particularly those needing a full-featured subscription management platform to automate and scale their revenue accounting processes.
Pricing: Zuora Revenue offers custom pricing based on a company’s unique needs and requirements.
Sage Intacct
Sage Intacct is a cloud accounting and ERP software solution that automates financial management. The software offers revenue recognition as an extended capability, meaning it may lack comprehensive features for complex and demanding revenue operations.
Sage Contact is a great pick for companies looking for an all-in-one solution with simple revenue recognition needs.
Key features:
- Out-of-the-box functionality: Companies can use Sage Intacct without coding or scripting, reducing the need for IT resources. This is possible with simple configurations and structured workflows.
- Helpful insights: Sage Intacct offers visibility and insights into revenue cycles, allowing companies to track orders, fulfillment, billing, and collection. They can also view revenue by products, contracts, or divisions for effective tracking.
Best fit: Sage Intacct works best for small to mid-sized and growing businesses seeking an all-in-one accounting software solution to manage recurring billing and revenue recognition.
Pricing: Companies must contact the Sage Intacct team to request custom pricing based on the number of users and modules.
NetSuite Automated Revenue Management
Like Sage Intacct, NetSuite is an ERP software solution with bolt-on revenue recognition capability. It automates revenue scheduling and reporting and allows companies to create custom recognition rules for their services or products and then link them to their contracts.
NetSuite automatically recognizes business revenue based on predefined schedules or milestones in compliance with ASC 606, IFRS 15, and other industry standards.
Key features:
- Automated allocations: NetSuite automates revenue allocations across all contract elements using user-defined rules. Companies can modify allocations to incorporate changes, cancellations, or additions.
- Forecasting: The software offers real-time data and creates forecast plans for each contract automatically to update projections and offer revenue forecasts.
- Rules and schedules: With NetSuite, companies record revenue accurately using custom rules, automated billing schedules, and flexible recognition models—such as fulfillment, subscription, completion, and time-based approaches. This makes it a viable option for companies looking for subscription management software with robust handling of customer and subscription attributes.
- Reporting: Finance teams can access revenue reports and build custom reports.
Best fit: NetSuite Revenue Management suits companies of above $50 million in annual revenue seeking an ERP solution with revenue recognition capabilities.
Pricing: NetSuite Revenue Management is available as an add-on module, which is included in the software’s annual license fee. Companies should contact NetSuite for more information.
Comparative Analysis
Here is a comparison table for a quick overview of how SOFTRAX stacks up against its top alternatives according to user reviews on platforms like G2:
| Brand | Scalability | Automation | Compliance | Pricing | Integrations |
| SOFTRAX | Limited—struggles with high-volume or fast-scaling businesses | Yes—but setup is complex, and UI is dated | Supports ASC 606/IFRS 15 but requires custom integrations for full automation | Custom pricing | Limited, especially with modern CRM/ERP systems |
| RightRev | Highly scalable—handles high-volume, high-complexity revenue models | Advanced automation with configurable, no-code revenue rules | Built-in ASC 606/IFRS 15 automation; SOC 1 & SOC 2 certified | Custom pricing based on revenue and use case complexity | Deep integrations, especially Salesforce-native |
| Zuora | Enterprise-grade scalability for hybrid and multi-element arrangements | Robust automation; runs batch processes (may delay real-time insights) | Strong compliance but relies on batch jobs and add-ons for deeper audit needs | Custom pricing; premium cost tier | Integrations with NetSuite, Workday, etc. |
| Sage Intacct | Limited—best for SMBs with simpler revenue needs | Moderate automation—good out-of-the-box for small teams | Basic ASC 606/IFRS 15 capabilities, not ideal for complex models | Custom pricing per modules and users | Basic integrations; limited support for large ecosystems |
| NeSuite Revenue Management | Moderate—scalable within the NetSuite ecosystem | Standard automation via templates and schedules | Native ASC 606/IFRS 15 support, but requires expert setup and tuning | Add-on to annual license; setup fee applies | Best with other Oracle/NetSuite tools; less flexible with external systems |
While these solutions compete in the same space, each boasts unique strengths, making them perfect for different scenarios and user cases. For instance, SOFTRAX handles complex processes reasonably well, but customers might opt for RightRev when scaling or integrating tools like Salesforce and NetSuite.
Zuora Revenue simplifies audits and automates workflows, but it can be costly and runs batch-initiated processes, which can slow down processing speed. Sage Intacct and NetSuite Revenue Management are great picks for companies seeking an ERP-based revenue management platform. Still, they may fall short for businesses with complex needs like usage-based billing, hybrid revenue models, or advanced billing and payment processes.
Best SOFTRAX Alternative? RightRev
Revenue management systems simplify complex revenue workflows like recognition and reporting—tasks that directly impact a company’s compliance, financial health, and investor confidence. As such, it is vital to pick an RMS that fits a company’s unique needs.
As a modern revenue management platform, RightRev streamlines every revenue type—from one-time transactions to recurring billing subscriptions and digital commerce revenue streams. It’s more than just subscription billing software—it supports event-based recognition, configurable revenue rules, contract modifications, and SSP calculations. This eliminates complex workflows and frees up accounting teams to focus on strategic, high-value tasks.
Request a demo to see if RightRev fits your business and can automate complex revenue processes.
Appendix
Future Market Insights, Inc. Revenue Management Software Market Trends – Growth & Forecast 2023–2033.
https://www.futuremarketinsights.com/reports/revenue-management-software-market
IFRS. IFRS 15: Revenue from Contracts with Customers.
https://www.ifrs.org/issued-standards/list-of-standards/ifrs-15-revenue-from-contracts-with-customers/
G2. SOFTRAX Reviews.
https://www.g2.com/products/softrax/reviews
Deloitte. Establishing Standalone Selling Price for Tech Companies.
https://www2.deloitte.com/us/en/pages/audit/articles/standalone-selling-price-in-tech-media-telecom-software.html
ERP Today. Revenue Recognition in NetSuite: How CloudPaths Enhances Value for Users.
https://erp.today/revenue-recognition-in-netsuite-how-cloudpaths-enhances-value-for-users/
