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ASC 606 and IFRS 15 Revenue Recognition automation

Posted on September 1st, 2017 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

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Do you know , there have been multiple acquisitions and announcements in the revenue recognition space as IT vendors ensure that they can support the ASC 606 standard including:

  • Intacct’s May 2016 announcement as the first automated ASC 606 solution
  • Zuora’s May 10th, 2017 acquisition of Leeyo
  • CallidusCloud’s May 24th, 2017 acquisition of RevSym
  • Aptitude Software (Microgen plc) , On August 31st, 2017 Acquires RevStream

One wonders how long revenue recognition vendors Softrax will remain available on the market!

Moreover , EBS customer can think for exexistance possibility with Oracle Revenue Management Cloud , which is a centralized, automated revenue management product that enables you to address the ASC 606 and IFRS 15 accounting standard for Revenue from Contracts with Customers.

ERP vendor like SAP and Netsuites also have seprate module to support ASC 606 and IFRS 15.

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