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Revenue Recognition

 

Find and flag hidden risks in ALL contracts

 

LIFT THE BURDEN OF REV REC

New global accounting standards for revenue from customer contracts such as ASC 606/IFRS 15 are putting severe pressure on companies’ rev rec processes and teams. Tension is high and the stakes are higher for rev rec teams to quickly and thoroughly hunt through thousands of documents, build spreadsheets, and find critical terms, also known as tripwires, and they still can’t be assured that they haven’t overlooked revenue events that could materially impact rev rec reports. 

What if there was a way to surface all potential rev rec tripwires? Things like volume discounts, implied warranties, and credits—across tens or hundreds of thousands of documents—without any intervention or data input from your team? What if you could instead refocus efforts on analyzing critical provisions and accruing revenue? Then, what if you could store the analysis for a full audit history?

With Pramata, it's possible to easily identify and analyze tripwires. We will provide you a whole new way to quickly respond to inevitable changes in the rev rec rules as they evolve—and be ready for whatever new compliance demands may arise down the road.

  • Identify and flag non-standard/risky terms in contracts and their supporting documents

  • Identify ASC 606 tripwires across thousands or tens of thousands of documents

  • Easily access all the data sources needed to track review progress

Get Started

ASC 606 Compliance Overview
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The Fast Route to ASC 606 Compliance and Frictionless Revenue Recognition
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Why Pramata Now?
Download PDF >

 

 

 

 

WHY PRAMATA FOR REVENUE RECOGNITION?

Pramata provides a commercial relationship system of record for detecting and minimizing
critical
 revenue-related reporting and compliance risks in contracts and
their associated documents, or in any other data source as needed

 
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Automated ASC 606 tripwire identification. Easily identify non-standard terms and those that require additional analysis under ASC 606, such as performance obligations, warranties, rebates, credits, and discounts.

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Advanced reporting. Enable quarterly compliance reporting on go-forward contracts. Also, you can immediately identify all contracts signed in the previous quarter that contain compliance tripwires, and flag those that accounting has yet to review.

 

Unified system of record. Centralize, organize, and store your customer contracts and rev rec-related analysis in an actionable format.

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Constant data refresh. Keep commercial relationship data continually refreshed as new contracts are signed, or changes are made to existing contracts.

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