Tensoft Revenue Recognition Automates Your Complex Revenue Recognition Processes
For technology companies that run on any accounting or ERP system, Tensoft Revenue Lens is the answer to your revenue recognition prayers.
Take a look at the video on the right and the information on this page to see how Tensoft Revenue Lens solves some of your most difficult revenue recognition challenges.
Implementing ASC 606, The New Revenue Recognition Standard
Tensoft has recorded webcasts on revenue recognition for its customers. These webcasts are insightful and help to understand the general principles of revenue recognition, different methods involved and the regulatory issues associated with it. They provide tips on implementation of the new standard (ASC 606 and IFRS 15) and actionable strategies that could be applied at your company.
The video above is part of such revenue recognition series, presented by revenue recognition expert Jeffrey Werner and covers the changes to SaaS and Subscription based revenue recognition models for technology companies. While the discussion is focused on ASC 606, it has an universal appeal as it is a unified standard (with IFRS 15).
With Tensoft revenue recognition solution you can:
Merge multiple sales transaction together into the final revenue document, pulling together multiple pieces of information to get the fair value SKU model, message and interpret data such as the fair value quantity from the sales quantity, pulling in data from multiple systems to get the right transaction in place, as needed.
Simplify Revenue Compliance
Leverage our optional revenue compliance model to store your independent fair values, and to reallocate revenue as required by GAAP and IFRS requirements.
Systemize Audit Support
Approval controls, drill downs into source transactions and compliance allocations, complete history of revenue and revenue agreement changes, and access to structured data across all revenue transactions make audits a snap.
Revenue Accuracy Assurance
Our systematic and structured approach to revenue recognition lets you count on the process to provide quality results. Our end to end approach to capture, format, and manage deferred revenue moves you away from unstructured manual processes.
Tensoft’s Revenue Recognition and Contract Management Solution Helps eSentire Scale
eSentire, is a leading managed detection and response service provider based in Ontario, Canada. They needed a scalable and reliable revenue recognition solution to meet their financial management needs. Tensoft Revenue Lens provided them the flexibility and functionality they required to manage the revenue recognition, billing and contract management processes.
To learn more, watch the case study video on the right.