Top Rev Rec Challenges We Solve
RevSym automates Revenue Recognition by
ensuring that the Total Cost of Ownership is low.

Compliance

Companies are finalizing their ASC 606 policies. Some are using spreadsheets for their ASC 605 needs.

How RevSym automates compliance?

  • RevSym complies with both ASC 606 and ASC 605 guidelines.
  • You can configure both – ASC 606 and ASC 605 policies and process the same set of data across these 2 policies.
  • Dual Guidance accounting and reporting are completely automated. 
  • RevSym complies with  ASC 605, ASC 985-605, ASC 605-25, ASC 605-35, ASC 605-10-S99L, and the new ASC 606 / ASU 2014-09 standards.

Automation

Excel sheet accounting increase the risk of manual error and increase the risk of financial restatements.  This causes a drop in efficiency and cost overruns.

How RevSym eliminates risk of manual errors?

  • RevSym is a configuration-rich application and provides a true end-to-end automation experience.
  • We realize that accounting policies keep changing as you adopt new revenue models. Our offering includes a promise to help you configure your Revenue Policies as you scale your enterprise.
  • RevSym offers a complete solution so that the Revenue team can analyze and report without chasing spreadsheets.
  • Exception management is inbuilt.
  • RevSym is the only solution that offers Contracts Revenue Accounting.
  • Complex Revenue recognition algorithms are automated to eliminate spreadsheets.
  • RevSym also records clear Audit Trail which is difficult to track in spreadsheets.

Visibility

Lack of visibility causes a lot of stress among Senior Management.

How RevSym improves transparency?

  • RevSym provides clear visibility on the revenue schedule of every element in a deal. It also ensures that Revenue Schedules match the Performance Obligation release criteria and you get a complete view of every Revenue Contract. 
  • It also provides a forecasting visibility to report based on the Deferred revenue backlog and also based on the Sales opportunities in CRM.
  • “Anytime Transfer” feature provides the revenue team complete visibility on the accounting data that is going to be posted to General Ledger.

Integration

We realize that companies use the best-of-breed type of software.

How RevSym removes integration concerns?

  • RevSym integrates data from multiple ERP’s using RESTful API’s.These API’s are easy to maintain.
  • We can integrate Opportunities, Contracts, Sales Orders, Projects,   Subscriptions, and Billing data.
  • We can also integrate your Commissions data from tools like CallidusCloud.
  • End to End Reconciliation helps reduce the Revenue close cycle.

Industries

Industry specific guidance goes away with ASC 606. But revenue models are changing across industries.
Multi-element Deals are very common in the Hi-Tech industry.
Contract modification is very common in the SaaS world as subscribers upgrade/downgrade their offerings.
Companies that sell products through distributors likely will need to book more revenue upfront based on the new revenue guidance. They’ll need to estimate, based on historical data, how much product will eventually be sold to end users through the distributors, and then book that amount.
Software companies that have historically taken the revenue over time due to lack of VSOE of the undelivered elements will have a huge impact as they can now take the revenue immediately on the software element.

How RevSym automates varied use cases?

  • Our 360 degrees approach ensures that we can adapt across multiple industries.
  • We place a lot of emphasis on the Customer Discovery process to understand your Revenue Policies in detail.
  • We then prototype the scenarios and match it with your expectations.
  • We see a lot of variability across companies in the same industry too. We address this by offering configuration options.

Framework

New Product introduction and acquisition of new companies are two examples where companies see a change in their Revenue models.

How RevSym scales with evolving needs?

  • It is very important to involve your IT and Business team to implement the software.
  • Once they get trained on the platform, they can independently manage all the changes needed to support the changing Revenue models.
  • RevSym offers an intuitive UI framework to manage all these changes.

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