Automate and Customize Your Revenue Recognition
Companies must often conform business models to the capabilities of their billing systems, especially when it comes to revenue recognition. With BillingPlatform, you can define revenue recognition according to your enterprise’s unique needs with ease.
Automate Revenue Recognition and Maximize Your Enterprise’s Profitability
BillingPlatform enables finance teams to configure every aspect of revenue recognition so that they can deploy differentiated pricing tactics in every industry and geography.
- Integrated Solution - Our revenue recognition capabilities are built into a broader platform architecture, thus allowing enterprises to automate and streamline critical billing workflows.
- Milestone Recognition - Configure BillingPlatform to recognize revenue milestones, schedules, and events that you define so that you can meet your customers’ needs.
- Control Environment - Many controllers rely on the workflows automated by their control environments. With BillingPlatform, manage your own control environment to optimize your enterprise’s revenue recognition.
- Multi-entity Support - BillingPlatform enables global businesses to customize revenue recognition by business unit, thus allowing multinational corporations to monetize products and services for any geography, language, and currency.
- ASC 606 Compliance - BillingPlatform is compliant with ASC 606 and enables enterprises in every industry to recognize revenues according to the modern reporting standard.
Integrated Solution Integrate Revenue Recognition With Your Broader Pricing Strategy
BillingPlatform houses all billing and revenue recognition processes in one integrated solution so that enterprises can automate critical billing workflows.
Many billing solutions do not allow businesses to integrate billing and revenue recognition, forcing finance teams to maintain separate systems and rely on time-intensive, manual work.
BillingPlatform is an all-in-one solution that is capable of supporting the entire quote-to-cash process. Revenue recognition is configured and supported natively, allowing companies to automate core billing activities without any IT intervention or custom coding.
Milestone Recognition Define Revenue Milestones and Collection Schedules That Meet Your Customers’ Needs
Align BillingPlatform with your enterprise’s broader business strategy by creating custom revenue milestones and schedules that cater to your unique customer base.
Many enterprises are forced to conform their business models to rigid billing systems that do not allow finance teams to automatically record revenue.
Our system allows you to record revenue in the way that you need to, especially when it comes to milestone support, billable events, and schedules. Enabled by BillingPlatform’s native subledger capability, manage, allocate, and recognize revenue on your own terms so that you can serve your business in the best way possible.
Control Environment Adapt Your Revenue Recognition Processes for Your Strategy
Revenue recognition must follow certain processes and regulations. Enterprises must comply, however not all entities achieve their revenue goals in the same way. At BillingPlatform, we help you configure a process that suits your needs.
Many companies choose billing systems that apply rigid, one-size-fits-all revenue recognition limitations that cannot adapt to the enterprise’s business model. This results in headaches and workarounds for common tasks.
BillingPlatform provides finance teams with a fully configurable and customizable control environment. You can adjust your reviews and guardrails to meet your needs while remaining compliant with Sarbanes-Oxley or internal audit preferences and requirements.
Multi-Entity Support Customize Revenue Recognition for Every Market and Pricing Package
BillingPlatform enables multinational enterprises to manage revenue recognition across multiple subsidiaries and geographies through one comprehensive solution.
Outdated billing systems require enterprises to set up distinct, disparate billing processes for every market. As a result, revenue recognition cannot be automated at the enterprise level, forcing finance teams to execute unnecessary and redundant tasks.
BillingPlatform enables you to configure revenue recognition across every business unit within your enterprise and establish custom rules by currency, geography, and entity. Manage revenue recognition through one comprehensive platform without any IT intervention.
ASC 606 Complete Compliance with ASC 606
BillingPlatform empowers finance teams to configure revenue recognition rules in accordance with ASC 606 and operate in compliance with industry standards.
ASC 606 created an industry-neutral revenue recognition standard that all companies must follow. Those with inflexible revenue recognition capabilities are unable to launch complex pricing tactics involving deferred revenues without additional support.
BillingPlatform’s rules-based revenue recognition engine can be configured to recognize any pricing model in line with globally accepted accounting principles. Operate in full confidence with automated and compliant revenue recognition.