Driving business value beyond revenue recognition compliance
Revenue is one of the most important KPIs for an organisation - in fact, it is the lifeblood of the organisation. However, in a world of new age business models such as subscription services, pay as you go and product bundles, coupled with the demands of industry regulations, managing revenue has never been more complex and costly.
The revenue recognition standards, ASC 606 and IFRS 15, required all organisations to establish new policies and controls, and in some cases resulted in the creation of rich data sets with highly, granular contract and revenue data. However, for many organisations the application of the new standard is achieved using existing legacy architectures or manual-heavy, spreadsheet driven processes providing little business value other than a compliance tick in the box.
Revenue teams are often shackled by time consuming, backward-looking reporting, and inefficient, inflexible systems potentially putting the business at risk due to human error and inaccurate reporting. It is no surprise that revenue teams staff attrition is typically 30% or higher.
In this webinar Aptitude Software and PwC will discuss the changing role of revenue accounting, the opportunities and business value that can be unlocked by a smart approach to ASC 606 / IFRS 15, and why managing the end to end revenue cycle is critical for an organisation to enable it to thrive in this modern 4.0 world.
You will also learn from Red Hat, the world's leading provider of open source software solutions, the value beyond compliance to date using Aptitude's revenue management solution, RevStream, the impact RevStream has had on the finance function as it gets closer to the vision of a 1 day close and how its flexibility is supporting evolving business needs driven by its regional expansion and recent IBM acquisition.
Join this webinar to learn how effective revenue management can empower the finance function and shift the CFO to become a trusted, forward looking advisor driving sustainable, profitable business growth and corporate value.
Presented by
Brett Atkinson,
Senior Solutions Consultant - Aptitude Software
Functional expert for Aptitude RevStream
Declan O'Donoghue,
Senior Principle Analyst at Red Hat
Declan is responsible for the design, implementation and maintenance of Red Hat's Revenue Recognition and Reporting portfolio
Based out of Cork, Declan has implemented Aptitude Revstream (AREV) in multiple global organisations, including both cloud and on-premise offerings
Richard Veysey,
Partner, Accounting Change, PwC UK
Richard is a Partner in PwC's Capital Markets, Accounting Advisory and Structuring (CMAS) group.
Richard leads PwC's IFRS 15 (Revenue Recognition) and IFRS 16 (Leasing) accounting advisory propositions, and has supported numerous clients in evaluating and implementing the requirements of these complex new standards
Richard also facilitates a number of industry working groups and is a regular speaker at industry events providing insights on practical approaches to address the requirements of IFRS 15 and 16.
