Get ready for the new Revenue Recognition Standards: ASC 606 and IFRS-15
For many finance professionals, revenue recognition management is among the top challenges today. With its combination of loosely defined regulations from the IASB and FASB, evolving standards—such as the new revenue recognition rules under Accounting Standards Codification (ASC) 606 and IFRS-15, and stiff penalties for noncompliance, revenue management creates unacceptable levels of complexity and variability that often overmatch the resources and expertise of many finance teams. Faced with these hurdles, companies are looking to automate revenue management processes to gain efficiency, strengthen compliance, and improve visibility.
The BTerrell Group can help your company make more informed business decisions with comprehensive revenue recognition management software that provides real-time visibility into business performance. As a SaaS company, Intacct understands the issues your finance organization grapples with every day — from complex, evolving software revenue recognition guidelines and a disconnected quote-to-cash process, to complex subscription billing and renewals management challenges. Fast growing businesses choose Intacct to automate subscription management and complex revenue accounting while delivering deep insights into financial and operational outcomes.
Tackle complex customer contracts and revenue accounting with powerful, sophisticated cloud ERP to:
- Ensure compliance with current and new SEC, FASB, AICPA and other accounting standards such as ASC 606 and IFRS 15, without touching a single spreadsheet.
- Prepare for the transition to ASC 606 and IFRS 15 with dual reporting that details the impact of the new rules on revenues, expenses and forecasts.
Automate your most important process - turning orders into cash
- Streamline the quote-to-cash process with seamless integration to Salesforce.com
- See the impact of customer changes as they occur and take action without waiting until the end of the accounting period
Deliver relevant insights to all stakeholders
- Gain insight into every stage of the process: order, revenue recognition, deferred revenue, billing and collection, so you ensure rapid responses to customers
Most businesses must comply by January 2018. Is your company ready?
Intacct Contract Revenue Management automates the complex process of complying with ASC 606 and IFRS 15—the most sweeping accounting changes in decades. Get ready for the new mandates with a structured, automated solution which includes built-in dual-reporting and forecasting, so you see the impact of the rule changes and accurately predict metrics such as cash, billing, churn, customer lifetime value, and more. Out-of-the-box functionality means you can use simple configuration choices to manage ASC 606 and IFRS 15 compliance, and avoid depending on scarce IT resources.
BTerrell Group also provides the ability to customize your solution (if needed) through our sister company, CodePartners