Revenue Recognition Simplified

If you plan to try and account for revenue recognition (RevRec) under the new accounting standards ASC 605 and ASC 606/IFRS 15 using a spreadsheet, be aware that this is going to introduce more complexity to your financial processes, not less. It’s a significant consideration. As finance contends with the new rules, interpretation of the regulatory landscape can be tricky and misstatements can have devastating consequences. But there is hope. New software applications and enhancements to existing ones are offering ways to simplify the complexities associated with the coming RevRec mandates, and in some cases making it almost as easy as accounting for fixed assets.

As the world becomes more connected, modernizing a business’s software systems is no longer a way to get ahead—it’s a requirement to keep pace. Modern life sciences companies seeking to capitalize on new opportunities and grow their businesses need a financial management system that can support them. Life sciences companies are on the cutting edge of innovation and need an agile tech environment to matc

Alternative financing platforms are disrupting the traditionally staid financial services industry

Nonprofits operate in a world of significant complexity, limited resources and software solutions that don’t help manage the entire organization. Whether it is the continuous friction between the fundraising and accounting departments around actual revenue and delivering a superior donor experience or trying to link outcomes with the true cost of programs, nonprofits have struggled to find business application

Agencies face multiple obstacles in transforming their operations for greater agility and innovation. These include having data in multiple places, challenges in resource management, unnecessary reliance on freelancers, operating on both Macs and PCs, a lack of workflow-driven processes and limited visibility that makes it difficult to project profitability by project, client and in total.