The move extends Aptitude’s leadership in ‘revenue recognition’ and expands portfolio with cloud-based revenue management in technology, software, media and other verticals.
Read the news release
1 Sept 2017 at 11:00 AM PT
Join a Q&A with RevStream CEO Rajiv Chopra and Aptitude Software CEO Tom Crawford
RevStream complements our own specialist financial management software capabilities, adding broader revenue lifecycle management functionality to our portfolio and provides access to new verticals, notably through RevStream’s growing cloud client base in the technology sector.
Since 2015 we have established a market-leading position in the telecommunications sector with the Aptitude Revenue Recognition Engine (‘ARRE’), an application which enables organisations to address the requirements of IFRS 15 and ASC 606. Our customer roster includes three of the four largest North American telco’s amongst numerous other leading global operators.
RevStream extends Aptitude’s leadership in revenue recognition and adds to its North American presence (where 50% of Aptitude’s existing H1 2017 revenues derive). Importantly, the move gives Aptitude reach into technology, media and other sectors beyond our footprint in financial services, insurance and telecoms.
Aptitude’s success comes from our capability to very rapidly process high volumes of complex, business event-driven transactions and calculations. RevStream have succeeded by offering a broader operational finance cloud platform for revenue management to mid- and large-sized companies. Together, CFO’s gain a partner that can address the many challenges of accounting for rapidly changing business models and that will help them drive the business with greater data-driven insights.
In addition to supporting the new ASC 606 revenue recognition requirements, RevStream supports ASC 605 (the old standard), management accounting needs, contract identification & assembly, fair value pricing, revenue disclosures, reconciliation and revenue insight reporting.
The RevStream acquisition extends Aptitude winning product portfolio which includes solutions spanning compliance (i.e. IFRS 9, 15, 16 and 17), operational accounting, enterprise revenue lifecycle management, financial data integration and financial calculations. The portfolio provides CFO’s with a clear path to enhance financial control, automation and insight.
We are excited to integrate RevStream with our own fast-growing business.