ASC 606 and IFRS 15 Revenue Recognition Software

For many finance teams, revenue management is among the top challenges today. Every subscription-based business and services firm should be aware of ASC 606 and IFRS 15 which has affected the way revenue is recognized.  As this new standard is established, companies will have to recognize revenue correctly or risk audits and the need to re-file earnings.

With Intacct Contract and Revenue Management, you can automatically handle your ASC 606 and IFRS 15 requirements and see your subscription business revenue based on both current and upcoming recognition standards. This makes Intacct first-to-market in supporting these new revenue recognition rules.

Contract & Revenue Management Dual-Reporting

Get continuous insights with automated dual-reporting with side-by-side results based on current and new guidelines, so you can spot the impact of the rule changes on your bottom line. Built-in forecast reports show you expected revenues, expenses, billed and unbilled revenues, and cash, based on both current and new guidelines.

You also get faster and more accurate metrics, such as churn, customer lifetime value, committed monthly recurring revenue, and customer acquisition costs.

Intacct automates the way to address these new rules for revenue reallocation and expense amortization. When you change a contract, Intacct automatically triggers revenue reallocation across a variety of recognition schedules. And your expense term templates can be the same as or different from the revenue term.

Key Benefits

  • Automate complex processes for addressing all new ASC 606  and IFRS 15 rules for revenue reallocation and expense amortization
  • Disclose the impact of changes with confidence with automated dual treatment at the transaction-level
  • Built-in dual-reporting and forecasting let you see the impact of the rule changes and accurately predict metrics such as cash, billing, churn, customer lifetime value, and more
  • Automate complex subscription billing, including usage-based billing, with full integration to revenue recognition

To learn more about Intacct or Contract and Revenue Management call 888-611-3138 or contact us online. We look forward to answering all of your questions.

2016-12-16T06:06:18+00:00 June 28th, 2016|Sage Intacct|