Today's diverse revenue models and complex multi-element offerings are challenging the capacity of finance to meet revenue management and reporting requirements. RevStream Revenue Recognition Manager automates key revenue recognition processes so finance can proactively promote the success of the business.
Easily comply with new revenue standards. Apply different revenue accounting policies to your contracts in order to support ASC 606 and IFRS 15 adoption. Define multiple reporting methods to support dual reporting, recasting, forecasting, statutory, offering modeling, and management reporting requirements.
De-bundle numbers, allocate, and carve revenue across performance obligations. Identify contingent revenue for additional deferral, and determine available revenue for each performance obligation.
Powerful engine to build accounting entries for Receivables, Tax, Statistical Entries, Deferrals, Unbilled, ST/LT Reclass, Contract Asset/ Liability, Allocations, Accruals, Recognition, and FX True-ups. Support for booking into multiple sets of books for intercompany, consolidation, or management reporting requirements.
Release available revenue based on triggers and events as prescribed by the reporting method. Robust eligibility calculations driven by events or contract triggers, including percentage of completion, usage based, and event allocation, provide flexibility for diverse product models.
Changes to contracts that affect the transaction price, performance obligations, or revenue policy are automatically applied in RevStream Revenue Recognition Manager. Thus allowing for revenue policy re-application and prospective and retrospective changes.
Net expense of revenue reversals against open deferred revenue. Support for Credits for Vendor Consideration, Price Protections, Product Returns, as well as Gross/Net Arrangements.
Flexible, rule-based amortization for actual or forecasted revenue, with support for contract changes, credits, cancellations with prospective and retrospective rebuilds.
Manage deferrals and establish deferred revenue balances, with support for contract asset/ liability accounting, unbilled reclass, and Short Term/Long Term reclassification.
Capture COGS, Expense, and Capitalized Costs from Contract Acquisition and Fulfillment and match costs to revenue, or net against revenue.