Revenue Management

Cloud-based revenue recognition

Move away from spreadsheets and automate the revenue recognition process based on your unique Revenue Recognition Criteria.

Centralise data in one place, capturing the whole contract and revenue recognition process, from record to report.

Reduce errors & cost through limited operational interaction, allowing the finance team to focus on value-add activities supporting the rest of the business.

Reduce processing costs across the business.

Powerful contract management

Take control of contracts and build the processing of revenue recognition directly into them.

House all key contract information in one place.

At contract inception, record all relevant contract data in your predetermined unique fields.

Organise relevant billing schedules per contract.

Follow contract activity by your key milestones.

Track contract trends and behaviours by your business metrics.

Gain real-time insights and produce robust forecasts.

Build your own revenue model

Design and configure a revenue recognition model that fits your business and automates the administrative overhead.

Manage Billing by automating invoicing requirements.

Set up all key recognition requirements inline with the policies that reflect your business activities, and that are IFRS/ASC compliant.

Automate all period-end Journal Entries & Reconciliation processes.

Ensure P/L and Balance Sheet statements are accurately recorded, timely and are free from material misstatement.

Improve forecast and budget accuracy.

Ensure compliance and improve the audit process

Scale your compliance, controls and audit processes, at the same speed as you scale revenue.

Improve the integrity of data and reduce the risk of manual error.

Standardise company revenue policies.

Ensure ASC606/IFRS15 Compliance.

Full audit trail from order-to-cash, and from record to report.

Reduce disruptive audit time in the business allowing the finance team to spend less time in the past and focus attention on the future.

IFRS 15

IFRS 15 is an International Financial Reporting Standard that provides guidance on accounting for revenue from contracts with customers.

ASC 606

ASC 606 is an accounting standard defined by the Financial Accounting Standards Board (FASB) that outlines how to recognise revenue arising from contracts from customers.

Five steps of revenue recognition

The joint standards outlined in ASC 606 and IFRS 15 require that companies adhere to a five-step revenue recognition model. All our revenue recognition products work to this standard.

Step 1 Identify the contract

Identifying the contract or contracts with the customer.

Step 2 Identify performance obligations

Ensure that there’s clarity on your obligations to the customer.

Step 3 Determine transaction price

In addition to the money you’re exchanging with a customer for a good or service, there are also other considerations.

Step 4 Allocate the transaction price

Every business needs to determine the specific selling price connected to each individual performance obligation.

Step 5 Recognise revenue

Once you’ve transferred control of the good or service to your customer, then you can record the amount as revenue.

Integrate data from any source

Wherever your data is stored, you can pull it into your revenue management software and analyse it.

  • CRM or business platform (e.g. Salesforce)
  • Finance
  • Operations
  • API integrations
  • Automated or manual data import

Revenue data at your fingertips

Access to powerful performance and financial reporting gives you actionable insight into your revenue.

Performance Analytics

Access to forward looking revenue data, such as a deferred revenue waterfall.

Financial reporting

Understand key financial metrics and produce comprehensive management data.