Revenue Recognition Made Easy for your Project-Based Business
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Are you spending as much time deferring and recognizing revenue as completing projects? See how Intacct is helping organizations like yours: --Decouple revenue recognition rules from billing rules --Automate the deferral and recognition of project-based revenue --Recognize revenue based on project milestones
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Revenue Recognition Made Easy for your Project-Based Business
- 1. Revenue Recognition Made Easy FOR YOUR PROJECT-BASED BUSINESS
- 2. 2 Preferred Provider Business Solutions Topics • Trends in financial management for services companies • Revenue recognition for services companies • Summary and additional resources
- 3. 3 Preferred Provider Business Solutions Financial Management Trends for Services Companies More revenue to manage Profitability up 13%* Diversification Additional types of offerings Multi-element agreements Add-ons, subscriptions Geographic dispersion Office and locations Outsourcing Looking to increase performance outside of revenue generation Greater efficiency Real-time visibility Integration with other parts of the business *SPI Benchmark
- 4. 4 Preferred Provider Business Solutions Revenue Recognition—Challenges Complexity • Disparate data to pull together • Changing guidelines: ASC 606
- 5. 5 Preferred Provider Business Solutions Revenue Recognition—Challenges Complexity • Disparate data to pull together • Changing guidelines: ASC 606 Visibility • Integrate complex deferred revenue transactions with general ledger • Reporting and forecasting of revenue • Gaining control over deferred revenue transactions
- 6. 6 Preferred Provider Business Solutions Revenue Recognition—Challenges Complexity • Disparate data to pull together • Changing guidelines: ASC 606 Visibility • Integrate complex deferred revenue transactions with general ledger • Reporting and forecasting of revenue • Gaining control over deferred revenue transactions Staff Productivity • Avoiding manually intensive process • Automating and streamlining maintenance renewals • Applying revenue recognition policies on an enterprise basis
- 7. 7 Preferred Provider Business Solutions Revenue Recognition—Challenges Complexity • Disparate data to pull together • Changing guidelines: ASC 606 Visibility • Integrate complex deferred revenue transactions with general ledger • Reporting and forecasting of revenue • Gaining control over deferred revenue transactions Staff Productivity • Avoiding manually intensive process • Automating and streamlining maintenance renewals • Applying revenue recognition policies on an enterprise basis The Results Poor forecast visibility Questionable compliance Lackluster performance High cost of accounting
- 8. 8 Preferred Provider Business Solutions Solving Financial Management for Service Companies Managing Growth, Diversity, and Increasing Performance
- 9. 9 Preferred Provider Business Solutions Resource Scheduling Solving Financial Management for Service Companies Managing Growth, Diversity, and Increasing Performance
- 10. 10 Preferred Provider Business Solutions Resource Scheduling Project, Task, Budget Solving Financial Management for Service Companies Managing Growth, Diversity, and Increasing Performance
- 11. 11 Preferred Provider Business Solutions Resource Scheduling Time, Expense, Materials Fixed Price $ Project, Task, Budget Solving Financial Management for Service Companies Managing Growth, Diversity, and Increasing Performance
- 12. 12 Preferred Provider Business Solutions Resource Scheduling Billing $ Revenue Recognition Time, Expense, Materials Fixed Price $ Project, Task, Budget Solving Financial Management for Service Companies Managing Growth, Diversity, and Increasing Performance
- 13. 13 Preferred Provider Business Solutions Revenue Recognition—The Results Increased productivity Real-time revenue visibility Simplified compliance
- 14. 14 Preferred Provider Business Solutions Interested in Learning More? • Try Intacct with a free 30-day trial http://www.intacct.com/trial • Attend an upcoming webinar http://www.intacct.com/webinars • Follow us on Twitter @intacct • Connect with us on Facebook http://www.facebook.com/Intacct • Contact us directly info@intacct.com | 877-437-7765
- 15. info@intacct.com | www.intacct.com | 877-437-7765 Thank you!