ASC 606: 6 Ways Intacct Contract and Revenue Management Will Smooth Your ASC 606 Transition
The new ASC 606 and IFRS 15 accounting standards—some of the most far-reaching changes to accounting since Sarbanes-Oxley—are only a few quarters away.
Did you know Intacct Contract and Revenue Management enables finance teams to:
- Automate complex processes for addressing all new ASC 606 and IFRS 15 rules for revenue reallocation and expense amortization.
- Disclose the impact of changes with confidence with automated dual treatment at the transaction-level.
- Solve the most onerous requirement for transitioning to the new rules with automated dual reporting.
- Clearly see the impact of the new rules on the company’s future results with revenue and expense forecasts based on both current and new guidelines.
- Automate complex subscription billing, including usage-based billing, with full integration to revenue recognition.
- Ensure the business will track according to its operational model using instant insights into SaaS metrics.
Intacct’s Contract and Revenue Management capabilities fully address the compliance requirements for ASC 606 rules for revenue reallocation and expense amortization—using automation, not spreadsheets.
Are you a Consulting, Ad Tech, SaaS or Subscription business?
Intacct designed Intacct Contract and Revenue Management to make you audit-ready, while simultaneously enabling revenue management using both the current and new accounting guidelines—allowing you to operate under existing current guidelines and new standards.
IDC finds with the introduction of Intacct Contract and Revenue Management, Intacct will claim an early position and gain a differentiator in helping existing and prospective customers cope with looming accounting rules changes. Additionally, IDC reports that, as the software market rapidly adopts the cloud deployment model, Intacct is well positioned to support a horizontal function with increasingly rich and market-calibrated solutions that will help it compete with larger and smaller competitors.
To learn more about Intacct Contract and Revenue Management, see here.
This content was originally posted here.
In business since 1971, CompuData is an award-winning business technology solution provider. Headquartered in Philadelphia, PA, CompuData has helped thousands of small to midsize clients nationally and in the Philadelphia metro region (PA, NJ, DE, NY) optimize their business with technology.