Intelligent, automated, compliant revenue recognition to help your company scale—with complete support for ASC 606 and IFRS 15.
Sage Intacct revenue recognition software removes the complexity, time, and frustration associated with revenue recognition.
Even as Jobvite doubled its size, it successfully accelerated the quote-to-bill cycle by 30% and improved finance efficiency by 25%. Read their story
Manage finances even as contracts change, with total visibility of how new changes affect your financials.
Sage Intacct's recurring-revenue management and revenue recognition solution lets you integrate with Salesforce to save time and reduce manual errors.
Cornerstone Information Systems save nearly 2 weeks a month of manual data entry thanks to tight Salesforce integration and increased productivity to help save $150,000 annually. Read the case study
Sage Intacct shows you every stage of the revenue lifecycle so you're ready with quick answers for customers and colleagues.
Enjoy out-of-the-box functionality that reduces the need for IT resources. You can handle revenue management requirements with configuration, not scripting. Structure your workflows to capture and edit contracts natively in Salesforce without additional integration software.
Quaero saved 20 hours/month preparing reports and cut their monthly close to a single day. Read the case study
Sage Intacct’s revenue recognition solution lets us keep everything centralized, even though we’re managing fairly complex, multi-subscription contracts on annual or quarterly billing schedules. The system does a good job of handling different revenue recognition templates for each subscription type – improving our whole order-to-cash process and increasing the accuracy of our financial data. Now, when our sales team closes a deal in Salesforce, order details are automatically added to Sage Intacct, my team validates the revenue schedule and then generates an invoice in just five minutes.
Revenue recognition is the accounting process that companies use to recognize revenue earned by a product or service provided.
Revenue recognition is important because it maintains the integrity of your company's financial reporting, by standardizing how you record revenue so you can measure quarter-to-quarter performance consistently.
Beginning in 2018 for public companies and 2019 for private companies, the Financial Accounting Standards Board's (FASB) and International Accounting Standards Board (IASB) new ASC 606 and IFRS 15 revenue management guidelines will require companies to identify performance obligations in existing contracts, reallocate revenues each time a customer contract changes, and defer expense recognition to align with the contract's delivery. As a result of these changes, contract add-ons and renewals must be integrated into a single contract and will trigger reallocations across both past and future periods—causing continuous revisions to revenue allocations and expense alignment.
Ideally, there are six key features that SaaS accounting and revenue recognition software should include:
Luckily, your path to ASC 606 and IFRS 15 compliance starts with Sage Intacct. Sage Intacct natively supports the new rules, lightening the burden on your finance staff with automated revenue recognition built in.
Sage Intacct has a revenue recognition module built on Sage Intacct Core Financials. Revenue recognition software removes the complexity, time, and frustration associated with revenue recognition.
Our subscription revenue management software simplifies revenue management. Automatically recognize revenue using templates and schedules to meet accounting standards even as contracts change. And flexibly configure expense amortization to match or differ from revenue recognition terms.
The key benefits of our Revenue Recognition software include:
Many public and private companies still use spreadsheets for critical revenue management tasks, which takes up a lot of time and is error-prone. Revenue recognition gets complex fast, especially when you consider multiple entities, subscriptions, licenses, services, etc., exposing a large number of issues from compliance, to audits, to proper forecasting. SaaS businesses must get revenue recognition right every time.
Cloud-based revenue recognition software helps your business manage revenue recognition with ease, so you can say goodbye to those unaudited spreadsheets and manual reconciliations. Sage Intacct translates your sophisticated revenue recognition requirements to simplified, streamlined workflows to get you the results your business requires.
With Sage Intacct's revenue recognition process, you will:
Sage Intacct revenue recognition software allows you to:
Ready to learn more about what Sage Intacct can do for your business? We are, too. Our product experts are here to guide you every step of the way.