Watch and learn how to automate ASC 606 compliance
RevSym is a complete cloud solution built for ASC 605, ASC 606, and IFRS 15 compliance.
Manage revenue recognition
Enable accurate, timely, and automated rule-based revenue recognition management—all while increasing your finance organization’s productivity and reducing cost.
Achieve 100% compliance
Automate revenue recognition guidance from FASB and IASB to seamlessly transition from ASC 605 to ASC 606 or IFRS 15. Use a single system to complete dual accounting under ASC 606 and 605 with easy comparability. Automate the treatment of contract modifications. Estimate variable considerations and standalone selling prices. Automatically generate disclosures and out-of-the-box reporting. And simply configure the system to match your revenue policies through drag-and-drop actions—all while complying with ASC 605, ASC 985-605, ASC 605-25, ASC 605-35, ASC 605-10-S99L, and the new ASC 606/ASU 2014-09 and IFRS 15 standards.
Reduce financial risk
Spreadsheets increase the risk of manual errors and financial restatements. Reduce financial and audit risk with RevSym, a solution that is easily configurable to your revenue policies. Automate allocation, reporting, and analytics for revenue and costs at the contract or portfolio level. Use built-in exception management for standalone selling prices, holds, reconciliations, and more. Track contract modifications and exactly who did what and when.
Increase visibility and transparency
Does your revenue accounting team and leadership have the visibility they need to ensure compliance and keep costs under control? RevSym will offer them a complete view of every revenue contract including the revenue schedule, matching performance obligation release criteria. Access real-time automated disclosures on deferred revenue, backlog, and the revenue waterfall. Use robust forecasting based on deferred revenue backlog and CRM opportunities. VIew journal entries before they get posted to the general ledger.
Automate for your revenue model and policies
Some software vendors may force you to push your revenue model and policies into their framework. That’s not so with RevSym. Being purpose built for ASC 606, this solution accommodates all types of revenue models from SaaS, to licenses, software, research and development, and channel revenue models. Our team of experts will understand your revenue policies through a consultative process and prototype revenue and cost scenarios so you know what to expect. You’ll be able to manage changes in your revenue policies through simple point-and-click actions.
Integrate with any ERP or CRM
RevSym can easily fit into your ecosystem and integrate data from your ERP, CRM, billing, and commissions systems through out-of-the-box adaptors. In minutes you can connect to ERP or billing systems like Oracle, SAP, Netsuite, Zuora, and Aria; CRM systems like Salesforce, Microsoft Dynamics, and SAP; and incentive compensation systems like CallidusCloud Commissions.
Scale to your growing needs
Your revenue recognition needs grow as your company grows in scale. RevSym offers a tested and scalable platform that can support your complex revenue recognition needs of tomorrow.