12 days of Sage Intacct: contract revenue & billing management

As a premier Sage Intacct partner, we wind down our year and celebrate how, for 20 years, they have brought us tidings and joy (and excellent finance and accounting tools). We gladly bring you … the 12 Days of Sage Intacct.

On the first day of Christmas, Sage Intacct gave to me: comprehensive contract revenue and billing management.

Sage Intacct’s Contract and Revenue Management solution provides an automated way to handle all of your key contract requirements. From a revenue recognition standpoint, it provides a fully ASC 606 compliant solution ensuring that your team (and your auditors) get the accurate numbers without spending tens, hundreds, or even thousands of hours maintaining manual spreadsheets.

Their Contract and Revenue Management solution also lets you tailor billing templates to fit your business model, including automated monthly, yearly, or even customized schedules. It also handles custom “usage” billing scenarios that might pop up each month.

One of our Software as a Service (SaaS) company clients has used this solution to manage their 7,000-plus contracts and save their team hundreds of hours each month. Instead of:

• Having to re-key contracts from the sales team, they simply click a button in Salesforce and create the full contract in Sage Intacct with revenue and billing schedules set up for each line;
• Manually updating and creating spreadsheets for revenue recognition entries, they simply let Intacct do the work for them and then post;
• Manually creating invoices for customers, they let Sage Intacct generate and email invoices based off of the schedules they have already defined.

Sage Intacct’s Contract and Revenue Management tool does far more than we can explain here (such as MEA allocations, custom integrations, etc.).

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This content was originally posted here.