Aptitude Software Launches RevStream™ into EMEA and APAC to Meet the Market Need for Real-Time, Automated Revenue Management in a Post-COVID World
Aptitude Software, a leading provider of financial management software, is delighted to announce the launch of its revenue recognition and management solution, Aptitude RevStream™ to the international market. Aptitude Software acquired RevStream™, the North American market leader in ASC 606 / IFRS 15 revenue recognition, in 2017.
Revenue quality and reporting have become a focus for finance teams as the global economy works to emerge from the damage done by COVID-19.
Jeremy Suddards, Aptitude Software CEO, comments, “the combination of COVID-19 pressure, rapidly changing business models, and the desire for constant management reporting and analytics is causing CFOs to expand their thinking around revenue management. Businesses are increasingly seeing the value of taking a disciplined and aggressive approach to revenue management at every stage of the contract lifecycle – not just in the areas of revenue recognition.”
Today’s environment is also accelerating an already existing shift to SaaS and subscription-based models. While beneficial, these models bring along complex contracts and high transaction volumes that create a host of revenue recognition and other accounting challenges. Revenue management has never been more relevant than it is today.
Aptitude RevStream™ was the first revenue recognition solution on the market to be made available as ‘software as a service’ (SaaS) and is the solution of choice for leading global organizations in the TMT sector including Red Hat Software, Activision Blizzard, and VMware.
Following the success of RevStream™ in North America and its alignment with the full Aptitude product portfolio, the latest major release of RevStream™ (v20.2.2) is now available in EMEA and APAC and backed by the enablement of international delivery and support teams for client implementations.
New business development for the EMEA region will be driven out of the UK by International Revenue Management Lead, Paul Roberts, and in APAC by Regional Director, Adam Flowers who is based in Singapore and has been growing the Aptitude Software footprint in Asia since 2015.
Aptitude RevStream™ enables companies subject to IFRS 15 / ASC 606 to fully automate their end-to-end revenue lifecycle and provide strategic value far beyond compliance. Aptitude’s existing RevStream™ clients are experiencing significant efficiency improvements including a faster financial period close, reduction in errors, reduced risk of non-compliance, and more time and resources for forward-looking financial planning. Declan O’Donoghue, Senior Principal Analyst at Red Hat states, “[with RevStream] we have fewer journals and fewer manual tasks which reduces business risk during month-end close and makes it a much more seamless process. From a reporting perspective, as soon as we close, the data is readily available to us, so our revenue and FP&A teams have a real-time and accurate platform for forecasting and planning.”
About Aptitude Software
Aptitude Software provides software solutions that enable finance professionals to run their global businesses, forecast decision outcomes and comply with complex regulations. Uniquely combining deep finance expertise and IP rich technology, Aptitude gives finance leaders the tools they need to transform their business and achieve their ambitions. Aptitude is proud to have served the office of finance for over 20 years, delivering financial control and insight to create a world of financial confidence for our global clients. Headquartered in London, Aptitude Software is an operating company of Aptitude Software Group plc. For more information, please visit our revenue management webpage.