Why use the Aptitude Revenue Recognition Engine?
- Gain compliance efficiently with new ASC 606 and IFRS 15 policies
- Proven to systemize revenue recognition accounting for high-volume and complex transactions
- Reduce systems change – leave billing, operational and financial systems intact
- Accelerate change projects with out-of-the-box functionality
- Unlock business insights with contract and performance obligation-level data
As a leading communications provider in Singapore, it’s important that our financial accounting system meets with the IFRS 15 standard. With the large volume of transactions we handle in our business, it is essential to have a technology solution to manage the complexity of recognizing and measuring revenue transactions.
-Alan Goh, Chief Information Officer, M1 Limited
What is it and what does it do?
The Aptitude Revenue Recognition Engine (“ARRE”) is a specialist financial application that connects existing General Ledgers and source systems to empower enterprises to comply efficiently with ASC 606 & IFRS 15.
The product has been proven to deliver compliance for many of the world’s leading telecommunications providers, who used it to implement a fit-for-purpose IFRS 15 and ASC 606 solution. ARRE performs the 5-step process, implementing accounting policy, and delivering finance-accurate accounting outputs to existing financial systems.
The product offers a full range of out of the box functionality including:
- Accounting templates for full-range of telecommunication product lifecycle accounting events and contract scenarios
- Connectors for all major general ledgers, including SAP & Oracle systems
- Integration with full-range of business and finance processes including billing cycles, bad debt write-offs, income recognition timing differences, etc