Telecoms and ASC 606: Revenue Recognition Under the New Standards
When the US Financial Accounting Standard Board (FASB) released its updated revenue recognition guidelines earlier this year, it also spotlighted several industries likely to see substantial impacts from the new ASC 606 guidance. One of the most notable verticals on that list is telecommunications.
Getting Started with Advanced Revenue Management Solutions
In today’s marketplace, revenue information is under heavy scrutiny and is frequently audited. Reliable, accurate revenue reporting is absolutely essential for any business, particularly when it comes to complying with government regulations such as Sarbanes-Oxley.
Want Financial Security and Controls? Drop Your Spreadsheets
For younger companies, spreadsheets can be an excellent stop-gap solution for many different applications. They perform valuable mathematical functions and are easy to use, store, and access. In smaller companies, they can even be successfully used to identify revenue and manage billing. However, in larger organizations, such methods simply can’t deliver the level of functionality […]
Improving Corporate Visibility by Eliminating Spreadsheets
Many companies use a variety of spreadsheets or home-grown applications to sort out, store, and manage their financial data. Either approach is very flexible and capable of doing almost anything. Unfortunately, that very flexibility makes it difficult to develop reusable reports or dashboards that provide the correct visibility into the business, and that are readily […]
How to Shop for Complex Billing and Revenue Management Systems
Some companies need a robust billing and/or revenue management solution. Others don’t. If you run a small to medium-sized business with traditional accounting procedures and a simple billing structure, your business needs can probably be met by Microsoft Excel or a generic enterprise resource planning (ERP) system like Oracle, SAP, or Microsoft Dynamics.
The Pros of a Complex Billing and Revenue Management System
Conventional spreadsheet applications like Microsoft Excel are fine for small businesses with simple billing procedures and uncomplicated revenue streams. Spreadsheets may be time-consuming to manage, but they’ll carry out the required calculations and provide you with straightforward data.
Kick the Spreadsheet Habit with Automated Revenue Management
In many ways, spreadsheet applications like Microsoft Excel are the backbone of the business world. With a little ingenuity, they handle everything from project management to employee expenses — the ideal tool for companies that may not be ready to commit to a full-blown ERP system.