Finance Articles

Brainshark Sinks Its Teeth into Subscription Accounting with Softrax

Canton, MA (Vocus) December 21, 2006 -- Softrax Corporation, a leading provider of enterprise billing and revenue recognition solutions, today announced that Brainshark Inc., the leader in on demand communications that enable sales and marketing effectiveness, has selected Softrax in order to keep up the demands of its growing business by automating its financial infrastructure. As a SaaS (Software as a Service) provider, Brainshark chose Softrax for its deep understanding and knowledge of their business model and its ability to meet the special requirements associated with the way billing and revenue are managed in a subscription-based environment.

"As our growth continues to accelerate, we need a scalable financial reporting infrastructure that meets the particular needs of our business model," stated Mike McEachern, VP Finance and Administration, Brainshark. "With Softrax, we expect to have the unique ability to schedule billing and revenue separately, and easily manage a rapidly growing number accounts and contracts through closing and renewals without having to add more people to our finance team."

"Subscription revenue models require companies to manage and coordinate complex and separate processes for billing and revenue recognition, "said Gottfried Sehringer, Vice President Marketing, Softrax. "Our experience providing automation solutions for SaaS business models will enable Brainshark to easily scale their finance operations to meet their growth objectives."

About Brainshark, Inc.
Brainshark, Inc. is the leading provider of on-demand communications that enable sales and marketing effectiveness. Our patented technologies and suite of offerings empower people to create, manage, and share on-demand presentations that combine voice, visuals, and documents for high-impact viewing anytime, anywhere. Providing secure, enterprise-class applications for today's global organizations as well as cost-effective, flexible solutions for the small businessperson, Brainshark is the solution of choice for any organization focused on increasing revenue and reducing costs through faster and more effective communications. For more information, visit www.brainshark.com or view this brief overview presentation: http://www.brainshark.com/brainsharkinc/MSEIntro?tx=PR

About 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 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.

Note to editors: 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.

Media Contacts:
Linda Wilson
781-830-9308
lwilson @ softrax.com

Christine Major
PerkettPR for Brainshark, Inc.
603-686-5071
brainshark @ perkettpr.com

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