Flexible Grouping Rules
Users can easily configure the system for different Grouping rules – based on how they organize their Revenue Contracts. No coding required.
We handle the complex cases around Contract Modifications and define the default behavior as per ASC 606. RevSym also allows you to configure the behavior as per your Revenue Policy – Prospective, Cumulative Catch-up, or a Separate Contract.
Configure collectability rules to hold back revenue.
Rev Rec Rules
Configure various revenue treatment options on each Obligation – Timing, Release events, etc.
Organize contracts as pure Agent types and recognize only the Net revenue.
Handle scenarios around sales incentives, customer loyalty programs, discounts, contract renewal options, material right.
Out-of-box Variable Considerations
Use the default variable considerations and configure key elements like magnitude of constraint, amount, release events etc.
Monitor the Variable Considerations
Track the Variable Consideration estimates through the life of the contract and allow for changes.
Design volume discount policies to promote Customer Loyalty. Estimate Selling Prices for each tier and record the delta as a Contract Liability.
Estimate Standalone Selling Prices
Calculate Standalone Selling Prices on the standalone Revenue Contracts and based on various stratifications.
Allocate Variable consideration and Discounts
Configure rules to allocate to one performance obligation, multiple performance obligations, whole contract, or certain goods/services only.
Allocate the Transaction Price
Allocate the transaction price to various performance obligations. Handle complexities like Trade-in credits.
Determine Transfer of Control
Configure performance obligations to dictate revenue recognition.
Rev Rec over time or point in time
Set up Business Event rules to allow Rev Rec over time or immediate and provide clear Revenue Insights on the schedules.
Input vs Output Methods
Determine the best method that reflects the transfer of goods and services to the customer and configure this for every performance obligation.
Configure various costs associated with a contract and define accounting treatment.
Commission costs can be set to be amortized over the life of the element.
Disclosure reports for contracts with customers – Disaggregating revenue by type of product, geography, market type etc. Provide clarity on Contract balances, Performance obligations.
All disclosure reports are designed to report in real-time. This greatly improves the efficiency of the revenue team.
Out-of-box Adoption automation
RevSym supports multiple methodologies to help with the transition to ASC 606.
Dual Accounting and Dual Reporting
RevSym is the only SaaS solution that can provide Dual Guidance reporting and side-by-side comparison.
Special reporting needs will come into effect during the transition and RevSym provides these reports.