Why is automating revenue management critical going into 2023? The current economic climate is leading companies and consumers to focus on cash flow preservation and a focus on the bottom-line as they prepare for a possible downturn economy.
Changes in subscription plans and payment terms have an accounting and reporting impact and maintaining revenue recognition can be a daunting task for growing businesses. To sustain growth and provide frictionless value to customers, automation of financial processes, especially revenue recognition, which gets only increasingly complex in a changing economy, can be the differentiator that separates the winners from losers.
But how should organizations begin their journey? On this CFO Dive webinar, CFGI and Aptitude will outline the essentials and key steps to take to help your organization get started with revenue automation – from an organizational, process, and technology point of view. You’ll discover:
- How to make the case for revenue automation initiative in your organization and position it as a top strategic priority
- How to quantify the costs of not automating, including time wasted on inefficient tasks and non-compliance risks like ASC 606
- Critical areas to address when creating a well-defined revenue automation process
- What to look for from a technology standpoint