Service Revenue Recognition
Service Revenue Recognition - Made Easy With FinancialForce
Today, services businesses are adding new and more complex revenue streams including multi-element arrangements, which combine various types of revenue activity on a single transaction. You can now allow your company to easily pull information from revenue generation activities and easily create recognition workflows based on trigger events tracked on the Salesforce platform, using FinancialForce Revenue Management.
Is your company ASC 606 compliant?
Download the CFO Guide to Revenue Recognition
FinancialForce Revenue Management offers the leading cloud-based revenue recognition apps to put revenue recognition processing closer to revenue sources to increase efficiency as well as audit trails. FinancialForce allows you to accurately collect revenue information, gain real-time control and provide complete visibility of revenues.
FinancialForce Revenue Management allows your services business to:
- Eliminate the need for complex spreadsheets by automating sophisticated revenue calculations
- Process multi-element arrangements efficiently including creating, calculating, and tracking revenue entries down to a line item level
- Organize items by projects, milestones, time cards, invoices, credits, expenses and more
- Stay compliant and in control with document audit trails linked back to source data
- Gain a complete real-time picture of revenue to date, deferred and forecasted by account, customer, project, group, region, practice and cost center
Revenue Recognition & Forecasting Tour - Watch Now
Centralize revenue streams in a single revenue recognition solution. Get compliant with the new ASC 606 & IFRS 15 standards. Automate calculations, reduce your period-end close and gain a complete picture of your organization’s revenue - both recognized and deferred.