Your revenue recognition policies and rules are unique to your company, so you need a revenue recognition and forecasting solution that can easily be configured to your systems.
RevPro’s proven, rules-based engine seamlessly integrates with your ERP and business applications to automate the entire revenue recognition process.
RevPro is the most widely-deployed revenue recognition solution available today and boasts a robust community of users happy to talk about their experience.
The use of manual spreadsheets carries a substantial risk of restatements, errors, and possible fines. The time and financial costs of auditing these manual processes is also a huge burden on companies. And spreadsheets simply can’t handle the volume and flow of transactions through the accounting life-cycle, delaying review and increasing the period close cycle.
By replacing spreadsheets with a scalable, automated, and auditable solution, RevPro aids in maintaining compliance with existing policies and accounting guidance. Manual changes to transactions and system settings are tracked and reported, and changes to policies and guidance can be systematically implemented and reviewed.
With new, converged revenue guidance (ASC 606/IFRS 15), it’s more important than ever to automate revenue recognition to stay in compliance. The automation process requires some amount of pre-work to ensure data quality, so the time to start is now.
RevPro’s periodic processing, standardization, and automation allows users to proactively identify and resolve issues, increase productivity, and reduce the close cycle.
Audit time and fees are also reduced.
RevPro’s rules-based engine allows for the standardization of business processes and accounting policies across regions and organizations.
Revenue scenarios can be automatically processed through RevPro, allowing revenue users to spend time reviewing more complex or unique deals rather than “crunching numbers.”
With RevPro, transactions can be processed and reviewed on a real-time basis, rather than waiting for period end and finalization of a spreadsheet. Revenue entries are automatically generated for posting to the financial system. Revenue details are available in RevPro to users throughout the organization based on their roles and responsibilities. These details can be ported back to existing reporting and business intelligence applications.
RevPro’s rules-based engine can be configured to your specific needs to manage the timing of revenue recognition. It creates a “revenue waterfall” of future scheduled revenue, along with rules for forecasting the timing of revenue recognition of unscheduled deferred revenue and backlog.
RevPro is the only revenue automation solution to provide dual reporting capabilities under existing and new GAAP and IFRS guidance. This feature allows companies to configure RevPro for what-if scenarios while they are deciding which transition method to use. And it facilitates push-button reporting for dual reporting under both scenarios going forward.