LEESBURG, Va.--(BUSINESS WIRE)--Architelos, Inc., the premier provider of outsourced registry management, consulting, and software tools for registry and DNS operators has consolidated its market leadership position by signing Minds + Machines Group Limited (Minds + Machines) to its holistic financial management platform comprised of NumberSense™ and Folio Exchange™. “Architelos offered us an automated and easy to set up and use a suite of financial services for managing some of the front office functions of a registry. These services were a great complement to what we provide our gTLD clients,” said Mike Salazar, CFO of Minds + Machines Group Limited. “The reaction from our clients, such as .london, has been very positive, making the transition from launch planning to operations seamless,” added Mike.
Minds + Machines has implemented NumberSense for its entire portfolio of launched strings such as .law, .london and .bayern. NumberSense is a SaaS (software as a solution) tool that allows Minds + Machines to deal with the complex area of deferred domain name revenue and costs in a simple, user friendly way. NumberSense calculates recognized revenue down to each individual domain name and performs intricate calculations to ensure that revenue is correctly recognized to GAAP or IFRS accounting requirements. It also provides a report suite for auditors to help maintain proper revenue books and records. NumberSense is currently powering the revenue recognition calculation of over 100,000 domains on a monthly basis.
In addition to NumberSense, Minds + Machines has selected the Folio Exchange (FE) platform to provide automated invoicing and remittance services. FE is a proven SaaS product that has been operating for over 10 years with over $1B of billings within other industries. FE’s web-based trade A/R and A/P modules automate and streamline the entire billing process for registries and registrars.
“We were the first to anticipate and build software products to help registries efficiently manage functions such as abuse mitigation and financial management. The adoption of our services by Minds + Machines, one of the leading new gTLD registry operators, is a great validation of our products,” said Alexa Raad, CEO of Architelos.
About Architelos, Inc.
Architelos, Inc. provides SaaS-based software, managed services and strategic consulting for clients in the domain name (DNS) industry. The company’s software products include NameSentry℠ a patented abuse detection and mitigation service, NumberSense™ a registry financial management service, and Folio Exchange™ an automated invoicing and remittance service. Architelos founders have over 30 years of experience in successfully building launching and managing multi-million name gTLDs. Architelos has locations in Leesburg (VA), Los Angeles (CA), Toronto (Canada) and Dublin (Ireland), as well as data centers in Toronto and Los Angeles. For more info follow Architelos on Twitter and Facebook or LinkedIn.
About Minds + Machines Group Limited
Minds + Machines Group Limited (MMX), a publicly traded company listed on the AIM market of the London Stock Exchange, is focused on the new generic top-level domain (New gTLD) space. Top-level domains, such as .com and .net are regulated by ICANN. ICANN is currently expanding the number of new generic top-level domains from the current 23 to over 1000 through its ‘New gTLD program’. The Group is one of the leading applicants for new gTLDs under this program.