Achieve full IFRS 15 / ASC 606 compliance while delivering additional business value
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
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
To learn more about the product read the ARRE solution brief or speak to one of our experts.