Prepare for the new ASC 606 & IFRS 15 standards and centralize revenue streams in a single revenue recognition solution. Put an end to error-prone spreadsheets, automate calculations, reduce your period-end close and gain a complete picture of your organization’s revenue - both recognized and deferred.
Be ASC 606 & IFRS 15 ready
COMPLIANCE: The deadline is fast approaching. Assess the impact and adjust processes straight into the system. Enforce key controls to record transactions accurately and on time.
- Configure to support your current compliance needs and your transition to the new standards
- Ensure prior revenue recognized and avoid double booking
- Keep historical values on old standard and easily track to new
- Produce audit trails and revenue reports using point and click reporting tools
Revenue Recognition for any business model
REV REC: The types of revenue models continue to multiply - with product-based, subscriptions, services, SaaS, usage-based contracts and any combination thereof. Track all revenue streams with ease in a system that supports any business scenario.
- Bring in data from across the business with a single click
- Support multiple revenue scenarios in one system
- Automate complex revenue calculations and allocations
- Get complete revenue and forecasting visibility - in a reporting format based on your specific need
Eliminate complex revenue recognition spreadsheets
AUDIT-FRIENDLY: Improve the auditability and visibility of your revenue recognition data. Adhere to the new standards (ASC 606 & IFRS 15) with ease, match revenue to performance obligations and automate best practices. And manage it all on the Salesforce Platform, alongside your other customer and billing activity.
- Link revenue recognition entries tightly to source data
- Get configurable revenue rules and templates
- Process multi-element arrangements efficiently
- Allocate and amortize contract costs to performance obligations
- End dependency on spreadsheets and data integrity issues
- Put revenue recognition information in a secure, central place
Get complete revenue and forecasting visibility
Get a complete and graphical view of your revenue situation either in summary or item by item. Empower teams to make more informed decisions for that day, next week and months out.
- Derive forecasting with both recognized and forecasted values
- Includes multiple revenue source data, e.g. opportunities, contracts, invoices, projects
- View by account, customer, project, practice or cost center
- Use dashboards to view by line of business, customer or region
- Utilize our standard reports or develop your own
Explore Revenue Recognition Management
Ready for the New Revenue Recognition Standard?
ASC 606 & IFRS 15 launched a major shift from rules-based guidance to principles-based. And the deadlines for both public and private companies are imminent. Are you prepared?