Propel your business
Supercharge Sales Performance with Integrated Sales Force Automation Software
Revenue Recognition Management
Virtualize, accelerate, and transform your business
Determine Transaction Price
Indentify Contracts with the Customer
Seperate Performance Obligations
Allocate Transaction Price
Recognise Revenue when performance obligation is satisfied
Compliance friendly with inbuilt automation
Reporting & Analysis
Reduce manual intervention with the use of spreadsheets
whilst reducing errors. Maximization of automation gain
strength with your compliance processes. This feature
ensures ongoing support for latest revenue recognition
rule changes with automated updates.
Implement end to end reporting with strong processes and
higher accuracy while ensuring proper review, approval and
execution of the revenue that's due to be recognized. Gain
better visibility and continual monitoring for all aspects
of the revenue recognition process.
Meet necessary revenue recognition standards efficiently
and also comply with AICPA, FASB and SEC regulations.
Extend your existing third party software quickly and
efficiently with cloud delivery. With this, improve finance
productivity while reducing cost and time of calculating,
recording and reporting on revenue recognition
Supports Recognition Rules
Your ERP should adhere to legal compliances rising out of AICPA, FASB and SEC regulations. With such diversity involved, we provide solutions for revenue recognition for each line item according to its revenue recognition method.
This system assigns flexible and customizable schedules on a per-item basis and also tracks & supports “units of accounting” and selling price. It delivers automatic reallocation of order value. It also compares current trending actual selling prices versus estimated selling price to gain data integrity.
Revenue Recognition Capabilities
Apart from supporting revenue recognition schedules for sales transactions, it gets flexible using a separate process for each stage. These also come with multi-currency and multi-subsidiary business intelligence. It notifies immediately when revenue is due to be recognized.
Integration with third party ERP systems
This system deploys and integrates with your existing ERP system or another 3rd party ERP system. It also supports bi-directional integration between your existing ERP deployment and NetSuite Advanced Revenue Recognition. It provides functionality for importing order and invoices for revenue recognition calculation and reporting.
To define revenue-recognition methods and apply them, relevant recognition templates could be used. A template could be associated to a good or service for related recognition rules to apply whenever that good or service is sold Apart from that, pre-packaged templates which capture common recognition methods are available. It also allows creating specialized custom templates.
Reporting and Visibility
NetSuite’s real-time dashboards helps monitor your recognized revenue with a capacity to generate key reports such as revenue recognition forecast, deferred revenue. It facilitates easy examination breakouts of recognized revenue across various elements and clarity into estimated selling price. It enables monitoring key variances between areas such as estimated and actual selling price.
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