Advanced Revenue Recognition for SAP, Oracle or NetSuite Financials

Staying on top of revenue recognition is a major challenge, and the rules keep changing-such as with the introduction of the latest EITF 08-01 and 09-03 rules affecting revenue recognition on multi-element sales. But most ERP systems like SAP, Oracle and Microsoft Dynamics GP aren’t up to the task of keeping pace with the changes. This means finance teams often resort to complex spreadsheets that sap finance productivity, harbor substantial risk of error, limit visibility and introduce significant compliance risk.

NetSuite Advanced Revenue Recognition completely automates your revenue recognition processes. It also provides a cloud solution that integrates with existing ERP applications such as Oracle Financials or SAP R/3 to provide automated revenue management. And if you’re already using NetSuite as your ERP solution of choice, NetSuite Advanced Revenue Recognition can be easily added on as a module.

NetSuite Advanced Revenue Recognition provides complete support for all key revenue recognition standards, automates revenue recognition calculation, and delivers dashboards and reporting for continual revenue recognition monitoring.

Benefits

• Efficiently meet necessary revenue recognition standards and comply with AICPA, FASB and SEC regulations (including SOP 97-2 & 98-9, SOP 81-1, SAB 101, EITF 00-21, EITF 08-01 and EITF 09-03)
• Improve finance productivity and reduce the cost and time of calculating, recording and reporting on revenue recognition
• Reduce or even eliminate the use of spreadsheets, dramatically reduce errors and gain strong, compliant processes
• Get strong processes and higher accuracy by ensuring the proper review, approval and execution of the revenue that’s due to be recognized
• Gain clear visibility and continual monitoring for all aspects of the revenue recognition process, from summary to detail through to Estimated Selling Prices and key variances
• Extend your existing Oracle Financials or SAP R/3 deployment quickly and efficiently thanks to NetSuite’s cloud delivery
• Get ongoing support for the latest revenue recognition rule changes with automated upgrades.