Release 2018.1 from Aptitude RevStream , our signature revenue management financial solution, is now generally available for all customers. This major update brings several exciting benefits for customers to further streamline their revenue reporting in order to meet compliance standards, as well as to give greater insight to contracts data for ad-hoc reporting analytics.
The new feature highlights include enhanced time value of money capabilities, contract item mass updates and a new data layer to support self-service reporting analytics. To upgrade to this release, customers can make a request through the customer support portal.
Recent accounting standard changes demanded unprecedented and complicated capabilities from revenue management solutions. Our enhancements directly address how Aptitude RevStream aids businesses meet their current and future revenue recognition compliance needs under ASC 605, ASC 606 and IFRS 15.
* Time Value Money (TVM) - enables computation of interest at contract inception and its effect on product or services revenue recognized over time to support new disclosure requirements under ASC 606/IFRS 15. This new feature gives you the security and confidence that revenue recognition automation smoothly continues.
* Contract item mass updates - allows considerable time savings when faced with the recurring job of re-estimations under ASC 606 or the need to make an item change that exists across many individual contracts. The ability to mass update across multiple contracts in just one execution is a real win. Users can propagate a common element change across all contracts containing that single element. Instead of repeating a single item change 200 times for each individual contract, users can now take advantage of the mass update – one change, one update.
* Self-service reporting analytics – provides a new data repository and data model which gives customers ability to create bookings, revenue and deferred balance reports, charts and analysis with details of their choosing.
Our product team conducted a 30-minute webinar to demonstrate highlights of Aptitude RevStream 2018.1 to customers, partners and prospects on Wednesday September 12. You can now view the webinar below.
If you haven't yet invested in Enterprise Revenue Lifecycle Management (ERLM) see why other companies took the steps to streamline their revenue recognition and produce report analytics that take the guesswork out of planning.