The new capabilities are specifically designed for accounting staff to automate the entire billing and revenue recognition process in a single solution that leverages the same data model and delivers real-time revenue management, helping to reduce errors, mitigate company risk by adhering to accounting standards, and accelerate the close process.
BillingPlatform’s Revenue Recognition solution manages transaction complexity of subscription, usage, and one-time offers with a rule-based engine for revenue scheduling, which gives finance teams the flexibility to allocate transactions to specific general ledger (GL) accounts, to specify how and when revenue will be recognised. Users can also create custom revenue milestones and schedules that are unique to their customer base and manage revenue recognition across multiple subsidiaries and geographies.
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