Automating Revenue Recognition; ASC 606 Compliance and beyond
Until recently, the go-to playbook for the back office was to make a 7-8 figure investment in one of the large, all-in, ERP systems out there such as Oracle or SAP. These systems attempt to be all things to all people. For this reason, they are infamous for being a ‘mile wide and an inch deep’ in terms of functionality. Because of this, for companies with any complexity, this was sure to be followed by another 7-8 figure investment in services to accomplish the customizations necessary to truly support the business.
The purported benefit was that this enabled a one vendor solution. Everything could be maintained in one database. Integration issues were minimized. However, the downside was tremendous.
Join us as we discuss the complexities of the subscription economy and how to position your company for success, beyond just ASC 606 compliance.