The use of spreadsheets increases the risk of manual, formula and macro errors and possible revenue misstatements. The time and financial cost of auditing these manual processes is a huge burden on companies.
Spreadsheets cannot handle the volumes and flow of transactions through the accounting lifecycle which delays review and increases the period close cycle.
By replacing spreadsheets with a scalable, automated and auditable solution, RevPro aids in maintaining compliance with existing policies and accounting guidance.
RevPro’s periodic processing, standardization and automation allows revenue users to proactively identify and resolve issues, increase productivity and reduce the close cycle.
Audit time and fees are also reduced.
RevPro’s rules engine allows for the standardization of business processes and accounting policies across regions and organizations.
Revenue scenarios can be automatically processed through RevPro allowing revenue users to spend time reviewing more complex or unique deals rather than “crunching numbers”.
By moving to RevPro, transactions can be processed and reviewed on a real time basis, rather than waiting for period end and finalization of a spreadsheet. Revenue entries are automatically generated for posting to the financial system. Revenue details are available to users within RevPro throughout the organization based on their roles and responsibilities and can be ported back to existing reporting and business intelligence applications.
RevPro’s rules engine manages the timing of revenue recognition. It creates a “revenue waterfall” of future scheduled revenue along with rules for forecasting the timing of revenue recognition of unscheduled deferred revenue and backlog.