RightRev Revenue Recognition for Salesforce / ASC 606 / IFRS 15

Highlights

• Ability to set up all revenue recognition rules based on ASC 606 or IFRS 15 guidelines. Perform complex revenue calculations like identifying performance obligations, revenue allocations, SSP, contract modifications, and much more out of the box.
• Works with Salesforce objects like Quotes, Contracts, Orders, Subscriptions, and Billings. Plug and Play Revenue Recognition engine for Salesforce customers.
• Out-of-the-box revenue reporting to meet all compliance requirements, GAAP reporting, and Revenue Forecast. Reports include Revenue Waterfall, Deferred Revenue Roll-forward, Un-Delivered Performance Obligations, Long Term / Short-Term Deferred Revenue.

What RightRev Revenue Recognition for Salesforce / ASC 606 / IFRS 15 does

RightRev is a revenue sub-ledger embedded within Salesforce platform.

While Salesforce provides integrated CRM, CPQ, Subscriptions, Orders, Billings and Cash Collection, RightRev complements Salesforce with Advanced Revenue Recognition functionalities to perform accurate revenue accounting as per ASC 606 & IFRS15 guidelines.

RightRev's advanced rules and accounting engine groups transactions into a Revenue Contract, detects contract modifications, calculates revenue allocations, and performs accurate revenue accounting. The contract modification engine comes with several rules to detect every change in the contract.

Customers can also configure the application to automatically calculate SSP based on historical data. Customers will be able to select and choose which transactions should be considered for calculating SSP and how often they prefer to calculate SSP.

The reporting engine provides out-of-the-box reports like Revenue Waterfall Report, Revenue Analysis Report, Revenue Contract Roll Forward Report, Un-Delivered Performance Obligations, Long Term / Short-Term Deferred Revenue, and several others to gain better visibility into revenue and also stay in compliance.

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