Lead to Money Makes the Connection to Revenue Recognition and ASC 606
Recently, CallidusCloud strategically acquired RevSym, a revenue recognition vendor specializing in solving the pain of ASC 606 compliance. The product solves an urgent business need and is a crucial product area in and of itself. But how does that fit into the broader Lead to Money suite? Analyst firm, Technology Evaluation Center (TEC), just released a write up looking into CallidusCloud acquisitions over the last 8 years, how they helped build up the Lead to Money suite we offer today, and how RevSym plays into that. To sum it up, CallidusCloud has assembled best-in-class elements that automate each step—including those below—throughout the sales process:
- Generating and tracking quality leads
- Enabling sales reps through content
- Providing sales execution functionality such as CallidusCloud Configure Price and Quote (CPQ)
- Incentivizing sales reps through Commissions
- Handling the crucial human element via training and coaching
But just automating those functions is not enough—you need to track and apply AI and analytics to the solution through Thunderbridge, so your system is intelligent. RevSym the latest addition, provides another crucial link by connecting the Lead to Money process back to Finance so a company can be aligned with both regulatory regimes and good financial accounting. This relates directly to incentives, since commission payments must now be accounted for in a way that conforms to ASC 606. In other words, you need the entire process in control and in view to get that ROI you are looking for. And we aren’t the only ones who believe that. Read PJ Jakovljevic’s write up here.