Auditable
Enable the audit process and eliminate errors
Take your accounting team out of spreadsheets and empower them with advanced revenue automation, while meeting strict ASC 606 and IFRS 15 compliance guidelines. With the enterprise-grade control environment from BillingPlatform, you can audit changes to know who changed what and when.
In addition, BillingPlatform supports the globalization of your business by managing revenue recognition across multiple subsidiaries and geographies with a single comprehensive solution.
The ability to report financial results accurately within multiple revenue accounting standards (IFRS vs US GAAP), allows international accounting departments to leverage the powerful multi-book accounting engine that can recognize and post revenue-related activity to all books concurrently, eliminating data entry replication and manual intervention.
Key Takeaway
Accounting for complex revenue recognition at scale is a demanding task for accounting teams. Ensuring visibility and auditability of revenue recognition is even more demanding; However, BillingPlatform Revenue Recognition makes accomplishing both tasks efficient and scalable. BillingPlatform’s advanced revenue recognition, straightforward accounting controls and documented audit trails are the tools to achieve full compliance with ASC 606 / IFRS 15 and subsequently breeze through next year's audit.