Tenrox Cloud PSA 2011 R3 Provides Advanced Project-based Revenue Manager

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New revenue management tool facilitates the work of controllers and project managers by removing complex spreadsheets, error-prone journal entries and manual processes.

Tenrox Cloud PSA

With Tenrox revenue manager, they can automate the revenue recognition process in the cloud with real-time dashboards and reporting for continual revenue recognition monitoring.

Tenrox, the only true workflow-driven project and service delivery solution for today’s globally dispersed project workforce, announced the availability of a comprehensive revenue manager benefitting companies with the accurate calculation and reporting of revenue for data integrity, real-time global visibility and stronger compliant processes. 2011 R3 release also includes the Salesforce.com Quick Connect Technology integration allowing data to be easily mapped, shared and exchanged between Salesforce.com and Tenrox. 2011 R3 offers several other valuable updates such as ad-hoc chart reports and support for Microsoft SharePoint 2007 and 2010.

“Tenrox 2011 R3 has been focused around developing the most advanced cloud-based revenue management tool available. The module’s main purpose is to address the revenue recognition void within existing ERP and accounting programs whereby companies can only track invoiced actuals by using spreadsheets or other custom-developed software that isn't integrated with their core accounting and project management/professional services automation system. With Tenrox revenue manager, they can automate the revenue recognition process in the cloud with real-time dashboards and reporting for continual revenue recognition monitoring,” explained Rafat Hilal, Vice President of Research and Development, Tenrox.

“After reviewing several PSA solutions, we could not find one that fully met our revenue management requirements. We collaborated with Tenrox on the development of the Tenrox Revenue Manager module. We’re excited about implementing this tool since it addresses all our revenue management needs,” explained Brian Cohen, Contract Manager, RL Solutions.

New Features in Tenrox 2011 R3:
Revenue Manager
Tenrox Revenue Manager facilitates the work of controllers and project managers by removing the need for complex spreadsheets, error-prone journal entries and manual processes. Project managers will appreciate that they can now associate the appropriate WIP (work in progress) accounts for all their project billing including time, expenses and charges to bridge the gap between project management and financial reporting. Controllers will value its ability to obtain an accurate calculation and reporting of revenue including instant adjustments when project milestones and actuals are invoiced.

Recognition rules can be setup to manage different revenue types such as software subscription, maintenance contract, software and hardware product implementation, and milestone based projects.

Revenue Manager tracks invoicing and revenue recognition independently and automatically associates transactions to the proper deferred revenue or actual revenue accounts, based on the transaction type. It also provides financial managers with line-item visibility and detailed reports to support internal and regulatory compliance requirements as well as higher accuracy by ensuring the proper review, approval and execution of the revenue that is due to be recognized.

Salesforce.com Quick Connect Technology
With Tenrox’s Quick Connect Technology there are no limits to the types of data that can be mapped, sent to and retrieved from Salesforce.com. This new integration technology provides a complete, 360-degree, real-time view of project demand, resource capacity and utilization as well as project progress. It is convenient for forecasting and project demand management throughout the entire sales process.

Tenrox-Salesforce.com Quick Connect integration technology offers a number of notable new features and improvements such as a simplified, user controlled configuration process. This results in streamlined implementation, updates and upgrades (since no coding or alteration of the core framework is required) and allows users to easily tailor the Tenrox Salesforce.com connector to their specific needs.

The range of data that can be exchanged and dynamically mapped between Tenrox and Saleforce.com has been greatly expanded. In addition to KPIs, Salesforce.com queries can obtain data such as available resources, bookings, work types, tasks, project updates, billing information and expense details allowing data to be easily shared and exchanged between salesforce.com and Tenrox Cloud PSA.

Ad-hoc Chart Reports
The Tenrox Ad-hoc Reporting tool has been enhanced to offer real-time, drillable charts. Charts are now part of the application’s other display formats including: static reports, pivot tables and graphs. An Ad-hoc Charts option has been added to the “Reporting” menu which offers several chart types such as: Area, Bar, Bubble, Column, Funnel, Line/Step line, Pie/Doughnut, Spline, and Stacked.

Data can be rolled up and consolidated into drillable executive dashboards and mash-ups, creating a comprehensive and powerful, central interface to automate and streamline management reporting. Charts can also be added to “My Favorites” or as part of a dashboard.

Other updates:
•Tenrox now includes seamless and comprehensive SharePoint 2010 support for document management and workspace collaboration. Tenrox users can automatically access SharePoint documents or Web Parts from within the Tenrox application regardless of where their SharePoint site resides.
•Tenrox Dynamics GP (Great Plains) connector now fully supports Windows 64-bit workstations

Availability
Tenrox R3 2011 is now available directly from Tenrox or through the company's channel partners. Tenrox cloud customers can make a refresh request to upgrade to 2011 R3. Tenrox offers certified out-of-the-box connectors to all major financial applications such as Sage ACCPAC, ADP, Ceridian, Paychex, QuickBooks, Intacct, Microsoft Dynamics (including Great Plains, Navision, & Solomon), PeopleSoft, Oracle, SAP, and more, as well as to CRM applications such as Salesforce.com and Microsoft CRM.

About Tenrox
Tenrox is the only true workflow-driven project and service delivery solution for today’s globally dispersed project workforce. Tenrox Cloud PSA and Cloud PPM solutions are best of breed browser independent offerings built on the Microsoft platform. Tenrox’s intuitive user interface, easy to configure options, and quick connect technology simplify deployment, accelerate user adoption and make project workforce management fun. We have been around for 15 years and counting; growing profitably. Our field tested experience, deep integration expertise and commitment to a best of breed cloud-based strategy mean you get the best project and service delivery solution there is from a best of breed vendor solely focused on innovating; providing you with advanced functionality and a seamlessly integrated project portfolio management and professional services automation solution. Tenrox is big enough to be dependable, fast and innovative but small enough to actually listen to you.

Since 1995, Tenrox solutions have served more than 800 organizations in 50 countries such as: IBM, General Electric, US Army, The Pentagon, Port of Long Beach, Talisman Energy, ConocoPhillips, Eaton, Pioneer Natural Resources, Invensys Rail Systems, SNC Lavalin, Hydro Quebec, JDA Software, Guidance Software, SAS, SAP, Alstom, Thales, Amphenol, Rio Tinto Alcan, Abbott, PharmaNet, Telus, Alcatel Lucent, Yellow Pages Group, Corning, Family Health International, Oxfam, Estee Lauder, Willis Group Holdings, E*TRADE Financial Corp, Blue Cross Blue Shield (NC. MT & TN), and Butler University.

Tenrox project management software is available through direct sales channels and a network of worldwide partners. For more information about the company or its award-winning family of products, go to http://www.tenrox.com.

Product or service names mentioned herein are the trademarks of their respective owners.

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Marie Melchiorre
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