Finance teams in TMT (technology, media and telecoms) and in areas like high-tech manufacturing, medical devices, and internet of things (IOT) are looking to drive digitization and technology initiatives motivated by the global pandemic, the need for business agility, and the success of digital transformation outside of finance.
This means addressing increasing volumes of data and finding ways to analyze and feed that data back to decision-makers. The migration to cloud will continue, while finance teams look to drive greater efficiency, control, and automation – including addressing the significant impact of the now-effective leasing and revenue recognition standards and the growth of subscription commerce models.
The new regulatory standards for leasing and revenue recognition are now in effect but many organizations are revisiting how to further automate processes and reporting and drive greater business value.
Aptitude RevStream (AREV) is a SaaS-based, revenue recognition and revenue management solution. It provides continuous ASC 606 / IFRS 15 compliance and the controls required to ensure accurate and automated regulatory reporting.
In addition to automating compliance, AREV provides end-to-end automation across the revenue lifecycle to reduce risk, increase efficiency, drive business growth, and easily monitor key KPIs to drive strategic decision making. AREV can easily integrate with the Aptitude Lease Accounting Engine to address the interplay between revenue recognition and leasing compliance standards that is a reality for many companies in the TMT and Advanced Industries space.
The Aptitude Revenue Recognition Engine (ARRE) is used by some of the largest telecoms in the world. ARRE is capable of handling high contract and data volumes and goes beyond IFRS 15 / ASC 606 compliance to ensure the business has complete control over revenue recognition. This gives organizations control over the financial impact of their commercial propositions as well as new and valuable insights into the business.
The Aptitude Lease Accounting Engine (ALAE) enables compliance with the leasing standards and covers the most complex lease accounting scenarios for both lessees and lessors. While the compliance deadline for IFRS 16 and ASC 842 has passed, many large global organizations are revisiting lease accounting solutions to increase automation, efficiency, and provide better data and insights around lease portfolios.
ALAE can easily integrate with Aptitude RevStream to address the interplay between revenue recognition and leasing compliance standards that is reality for many companies in the TMT and Advanced Industries space.
Companies in the TMT & Advanced Industries space continue to pursue automation, transformation, and cloud initiatives within the finance department, driven by a number of factors. These include the need to support new technologies like AI and IOT, a desire for faster data analysis to support real-time decision making, and greater autonomy and transparency across finance systems and operations.
Aptitude Calculate is a scalable, standalone, multi-purpose finance calculation and cost allocation engine. It empowers finance business users to perform complex and multi-dimensional calculations, conversions, and allocations based on high volumes of transactional and operational data feeds from multiple source systems.
Aptitude Accounting Hub delivers centralized and fully automated finance, accounting, and reporting. AAH is available in multiple deployment models including SaaS, private cloud, or on-premise.
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