Simplify revenue management in real-time with automation, accuracy and auditability

Real-time Revenue Recognition Solutions

Manage transaction complexity and deliver true real-time revenue management with combined billing and revenue recognition software in a single solution.

• Audit-proof your revenue recognition processes – no matter which business model you use.
• Assign financial transactions and execute revenue recognition in real-time as events happen. We apply the 5-step ASC 606 & IFRS 15 model to all transactions and prepare disclosure requirements for compliance.
• Automate core billing activities from invoicing to revenue recognition without any IT intervention or custom coding.
• Adhere to strict compliance with fully auditable tracking of who changed what (and when).
• ASC 606 and IFRS 15 compliant for a quick close and painless audits.

Revenue Contracts & Performance Obligations

Manage revenue contracts, and automatically calculate revenue allocated to performance obligations based on standalone selling price.

• Create performance obligations
• Define Standalone Selling Price (SSP) within the product catalog
• Automatically calculate contract transaction price
• Re-allocate revenue based on relative SSP

Rule-based Revenue Scheduling

Revenue Recognition offers rule-based revenue scheduling, giving finance teams the flexibility to automatically allocate transactions to specific GL accounts then specify how and when revenue will be recognized.

With BillingPlatform’s revenue recognition system, you can automatically manage:

• Dynamic rules for automated creation of journal entries
• All/future entries for the term of recognition
• Discounts, usage, renewals, upgrades, cancellations and more

Advanced Recognition

Align Revenue Recognition with your enterprise’s broader business strategy by creating custom revenue schedules and automate recognition of the most complex transactions.

• Milestone recognition
• Event-driven triggers, either from BillingPlatform or third-party solutions
• Point-in-time
• Recognition over time
• Contracts with bundled arrangements

Advanced Journal Entries

Manage revenue recognition automation across multiple subsidiaries and geographies through one comprehensive solution.

• Establish custom rules with attributes defined by currency, geography and entity
• Define inter-company allocations
• Manage dual reporting for multiple accounting standards (IFRS vs Local GAAP) and internal reporting
• Calculate and house the granular, detailed journal entries and pass summarized entries to an ERP