RevPro is the most widely-deployed revenue recognition solution available today and boasts a robust community of users happy to talk about their experience.
RevPro’s proven, rules-based engine seamlessly integrates with your ERP and business applications to automate the entire revenue recognition process.
Your revenue recognition policies and rules are unique to your company, so you need a revenue recognition and forecasting solution that can easily be configured to your systems.
The use of manual spreadsheets carries a substantial risk of restatements, errors, and possible fines. The time and financial costs of auditing these manual processes is also a huge burden on companies. And spreadsheets simply can’t handle the volume and flow of transactions through the accounting life-cycle, delaying review and increasing the period close cycle.
By replacing spreadsheets with a scalable, automated, and auditable solution, RevPro aids in maintaining compliance with existing policies and accounting guidance. Manual changes to transactions and system settings are tracked and reported, and changes to policies and guidance can be systematically implemented and reviewed.
With new, converged revenue guidance (ASC 606/IFRS 15), it’s more important than ever to automate revenue recognition to stay in compliance. The automation process requires some amount of pre-work to ensure data quality, so the time to start is now.
RevPro’s periodic processing, standardization, and automation allows users to proactively identify and resolve issues, increase productivity, and reduce the close cycle.
Audit time and fees are also reduced.
With RevPro, transactions can be processed and reviewed on a real-time basis, rather than waiting for period end and finalization of a spreadsheet. Revenue entries are automatically generated for posting to the financial system. Revenue details are available in RevPro to users throughout the organization based on their roles and responsibilities. These details can be ported back to existing reporting and business intelligence applications.
As RPA brings more technologically-advanced solutions to businesses around the world, operating models that adopt automation, whether in-house or offshored, will cut costs, drive efficiency and improve quality.