Improved revenue growth
FASB and IASB set forth guidelines in 2014 in an effort to unify revenue recognition principles. The deadline to comply is upon us.
At the heart of this compliance effort?
A massive information and data search and document effort—often involving countless people, hours and spreadsheets. The analysis process becomes error prone, slow and very costly.
Pramata helps organizations in the throes of ASC 606 compliance to accelerate search and verification efforts, while solving a more valuable, far-reaching problem—relationship fragmentation and the revenue leakage those fractures bring.
- Automatically identify tripwires: Focus your team on the analysis of contract terms instead of finding a needle in a haystack.
- Improve process control: Ensure complete and accurate analysis of performance obligations, and monitor progress.
- Create a commercial relationship system of record: Centralize and organize all customer contracts and store all revenue recognition related analysis alongside the contract.