Revenue recognition software features
Achieve full IFRS 15 / ASC 606 compliance
Aptitude Software and the five-step process:
The Aptitude Revenue Recognition Engine provides a complete solution for compliance as well as the expertise to minimise the complexity of a wider project in data preparation and integration with existing systems. Below is a brief summary of the solution’s features and capabilities. For more detailed information please contact us or request a demo.
Revenue Recognition Engine Core Features
- Define, apply and control revenue recognition rules with intuitive business user interfaces
- Full suite of telecommunication products lifecycle and IFRS 15 accounting events available ‘out-of-the-box’
- Ability to combine accounting events to support contract components as material rights, terminations or others
- Support for accruals, deferrals and write-offs
- Users can control the specific posting pattern to ensure the correct journals are generated
- Process millions of calculations per hour, giving users visibility into impact of recognition policy and revenue forecasts
- Easily connect with existing finance infrastructure, including SAP & Oracle ERPs, general ledgers or accounting middle ware
- Output delta figures or debit/credits
- Rules-based integration layer enabling finance to control data collection and preparation
- Data model covering all revenue, cost and commissions data
Contract Management
- Support for contract-by-contract or portfolio/aggregation approaches
- Link disparate performance obligations to assemble whole single contracts
- Calculate stand-alone selling prices and integrate fair value data
- Transaction prices can be absolute amounts or parameter based such as customer usage
