Technology companies often have complex regulatory compliance and business process issues related to revenue recognition. Given the importance of accurate and credible revenue, many companies use a combination of business process steps and software solutions to help consistently and accurately recognize revenue. The purpose of this paper is to discuss important considerations for your business process and software deployment to most effectively recognize revenue.
This paper starts with an overview of revenue for technology companies, proposes a framework to organize your needed company processes, considers process change requirements for revenue recognition, and then proposes important considerations when you implement any software solution for revenue recognition. It is co-authored by Tensoft CEO Bob Scarborough and revenue recognition expert Jeffrey Werner.