When FASB and IASB announced the ASC 606 and IFRS 15 revenue recognition guidelines, Express Information Systems and Sage Intacct knew that this would impact the office of finance as well as the broader organization. For many companies we currently serve, these guidelines affected go-to-market strategies, compensation plans, product roadmaps, sales commissions, and more.
Sage Intacct Contract and Revenue Management helps companies navigate the complexities created by these guidelines. This solution keeps companies audit-ready while delivering the continuous insights needed to make their financial future predictable. In fact, Sage Intacct Contract and Revenue Management was the first solution that fully addressed all the new rules for revenue reallocation and expense amortization—using automation, not spreadsheets, and a lot of accountants’ time.
Sage Intacct removes the complexity, time, and frustration associated with revenue recognition. It can help you simplify revenue management by flexibly configuring expense amortization to match or differ from your revenue recognition terms. Check out this case study on Jobvite, for example.
By implementing Sage Intacct Contract and Revenue Management, Jobvite was able to successfully:
- Capture a 5% billing increase through better visibility into renewals
- Accelerate its quote-to-bill cycle by 30%
- Improve finance efficiency by 25% and increase its gross margin of 1% while reducing reporting errors and audit risk
Most impressively, Jobvite was able to automate day-to-day revenue recognition tasks and regulatory compliance while doubling in size!
Acquia is also a great example of using Sage Intacct Contract and Revenue Management to align revenue recognition with expense allocations. In their case study, Acquia explains how it helped them cut order-to-bill processing time by 50% and, increase operational cash by 10%!
According to Brett Belcastro, Revenue Controller for Acquia, “Sage Intacct’s revenue recognition solution lets us keep everything centralized, even though we’re managing fairly complex, multi-subscription contracts on annual or quarterly billing schedules. The system does a good job of handling different revenue recognition templates for each subscription type – improving our whole order-to-cash process and increasing the accuracy of our financial data. Now, when our sales team closes a deal in Salesforce, order details are automatically added to Sage Intacct, my team validates the revenue schedule, and then generates an invoice in just five minutes.”
We encourage you to learn more about Sage Intacct Contract and Revenue Management… check out the Sage Intacct Revenue Recognition Data Sheet, give us a call at 210-614-9410 or send us a message, Express Information Systems is always happy to help.