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