Today, we are excited to announce a new managed service, offered in conjunction with KPMG, to help companies adopt ASC 606. The managed service brings together KPMG’s accounting experience and system implementation capabilities with Aptitude RevStream, our cloud-based specialist financial application. (read full press release)
Over the last several years we have helped many clients address the challenges posed by the new revenue recognition standards - ASC 606 & IFRS 15. This managed service offering will allow us to better help private companies adopt the new revenue recognition accounting standard, ASC 606, before the January 2019 deadline. Additionally, the alliance will help public companies automate current revenue recognition processes.
“The new revenue recognition requirements offer CFOs a dual opportunity to automate accounting processes and to drive profitable business growth amidst changing business models,” says Tom Crawford, CEO of Aptitude Software. “Aptitude RevStream gives our customers the real-time revenue recognition automation and reporting needed for CFOs to survive in today’s fast-paced business environment.”
Additional benefits of KPMG and Aptitude Software’s revenue recognition managed service, include:
- Insight into how revenue recognition changes will impact IT, tax, sales, operations, supply chain, and human resources organizations.
- Accelerated planning processes and increased flexibility for system and process upgrades
- Improved reporting for key stakeholders such as CFO, audit committee, and board of directors, enabling more informed business decisions
- Reduced IT challenges and the need to maintain support staff
- Empowered finance and accounting professionals who can focus on business innovation, rather than supporting day-to-day operations.