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diCarta Extends Flagship Product's Capabilities

ASP-News learned that B2B contract and revenue solutions management provider diCarta, Inc. will announce on May 1 the availability of its Revenue Recognition component of its flagship product, diCarta Contracts.

According to Scott Martin, chief executive officer, the company activated its ASP model on February 13. There are 17 companies currently accessing its services through a data center and diCarta, Inc.expects to have 60 customers by year's end.

diCarta Contracts debuted earlier this year, claiming to simplify the process of managing contracts and revenue by reducing the costs of negotiating, processing, tracking and renewing contracts online. Martin explained to ASP-News that the program allows companies to collaborate with their customers over the Internet on contract-based terms and conditions to better manage obligations, revenues and renewals.

Capabilities introduced with diCarta Contracts' initial release include Contract Manager, a user-friendly interface that allows all parties to review contract terms and conditions; Registration Manager, which enables subscribers and their customers to easily update key contact and installation information on existing contracts; Renewal Manager, designed to improve revenue management and Integration Manager, which allows companies to exchange information between existing order management systems and CRM systems.

"While Revenue Recognition is sophisticated, it is not technically complex," Martin said. "It delivers four key capabilities based on the idea of helping businesses comply with increasingly complex accounting standards."

Revenue Recognition offers subscribers the ability to recognize contract revenue elements and automatically create revenue recognition schedules, reflect the method of revenue recognition selected through decision support summaries, allow revenue to be automatically "released" for recognition based on customer-defined, event-based acceptance criteria and authorizations. Additional features include forecasting, modeling and pro-ration for discounts.

"We offer one big service and charge a subscription fee," Martin explained. The annual fee for a company with less than $1 million in revenue to work with diCarta is $10,000. Companies with revenue of more than $300 million will pay $300,000 for diCarta's services.