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Webinar on Financial Transformation with S/4HANA on August 22, 2017

Posted by Bramasol Financial Transformation Team on Tue, Aug 15, 2017 @ 06:00 AM

On August 22, 2017 at 10 AM PDT / 1 PM EDT we invite you to see the next installment in our highly successful webinar series.  This webinar will focus on Financial Transformation with S/4HANA Cloud ERP & Analytics

In the webinar, we will present an overview of how S/4HANA Cloud ERP and Analytics provide the building blocks for fueling Financial Transformation. In addition to discussing the S/4HANA enabled Digital Core, we will drill-down with specific examples of how SAP Cloud Analytics can identify and help resolve operational issues in S/4HANA Cloud. The webinar will include a live Q&A session.

Click below to register and join us on August 22, 2017.

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Topics: financial transformation, S/4 HANA Cloud

RevRec Webinar Video: Ease the Burden of Complex Disclosure Reporting with Pre-Built Reports

Posted by Bramasol RevRec Team on Sat, Jul 29, 2017 @ 08:51 AM

The video is now available for Bramsol's latest installment in our highly successful Revenue Recognition Webinar Series.

"Ease the Burden of Complex Disclosure Reporting with Bramasol's Pre-Built Reports"

Presented on July 27, 2017, this webinar focused on how companies can quickly flesh out their disclosure reporting processes, with less than six months left until the mandated adoption of new Revenue Recognition standards ASC 606 and IFRS 15.

Disclosure reporting under ASC 606 for RevRec will be complex and require extensive quantitative and qualitative data and notes. Spreadsheets are not up to the task. Learn how Bramasol can save you time and money on your preparation and audit for Financial Disclosures for your 10K/10Q.

We have developed 10 key reporting tools that gather the majority of key information for you and present them in easy to use formats.

Click Here to View this Video and previous RevRec Webinars in this series.

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Topics: revenue recognition

New eBook: Configuring Optimal User Interfaces with Fiori and S/4HANA Cloud Digital Core

Posted by Bramasol Financial Transformation Team on Tue, Jul 25, 2017 @ 10:02 AM

Many forward-looking companies, led by innovative CFOs and IT departments are already proactively undertaking projects aimed at fundamental Financial Transformation.

The key technology trends that are enabling transformation include:

  • New-generation architectures, such as SAP S/4HANA, that combine core ERP & Finance systems with plug-in modular best-of-breed capabilities for revenue recognition, leasing, ecommerce, HR, travel, supply chain management, and more.
  • A “single version of the truth” approach that avoids discussions of who’s data is right, thereby enabling much faster and better tactical decision-making.
  • Cloud-based implementation options that can greatly reduce time-to-operation and which integrate seamlessly with in-house implementations to enable cost optimization along with flexibility and scalability to support growth.
  • Advanced real-time analytics and user interface (UX) technologies that can access information throughout the unified systems and provide easily tailored comprehensive reporting for ongoing management or ad hoc decisions.

The last item above is the topic of the new eBook, "Configuring User Interfaces for Financial Operations with Fiori and S/4HANA Cloud"

Bramasol is a co-innovation leader in the implementation of the SAP S/4HANA Cloud, which provides a high-performance, in-memory, and extensible Digital Core for implementing the above initiatives and integrating a wide range of best-of-breed functionality. Deployable in the cloud or on-premise, SAP S/4HANA can drive instant value across all lines of business – no matter the industry or business size.

S/4HANA Cloud consists of a modular set of best-of-breed Editions, which provide a flexible, extensible ERP platform that can scale and expand to meet changing business needs. New capabilities and users can be added as you need them, quickly and easily.

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Through SAP FIORI 2.0 and embedded analytics, Bramasol helps our customers release the intelligence and data within the system to serve corporate users in a meaningful way that drives productivity and smarter decision-making.

Bringing these technology opportunities to bear on the current and future challenges facing CFOs and their staff requires both an understanding of what the technologies offer and how they can apply to each company’s unique needs both today and over the long run. Bramasol’s Value-Added Services for S/4HANA and the Digital Core.

Fill out the form below to download the new eBook, "Configuring User Interfaces for Financial Operations with Fiori and S/4HANA Cloud"

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Topics: S/4 HANA Cloud

FASB Board Member Urges All Companies to Evaluate Impacts of New RevRec Standards

Posted by Bramasol RevRec Team on Fri, Jul 21, 2017 @ 08:45 AM

RevRecReady-HotNews.jpgIn an interview on July 12, 2017 with the Center for Audit Quality, FASB Board Member Christine Botosan discussed the importance of all companies evaluating the impacts of new Revenue Recognition standards on their organizations.  

She cited the SEC's position that disclosure reporting on this issue will be required of public companies, regardless of whether revenue levels are materially changed and also underscored that companies can't know the materiality of changes without doing an evaluation per the new standards.

Watch the entire interview below.

 

 

If you want to get a jump on your own disclosure reporting process, click here to register for our next webinar "Ease the Burden of  Complex Disclosure Reporting with Bramasol's Pre-Built Reports".

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Topics: revenue recognition

RevRec Webinar on July 27: Ease the Burden of Complex Disclosure Reporting with  Pre-Built Reports

Posted by Bramasol RevRec Team on Tue, Jul 18, 2017 @ 12:00 AM

On July 27, 2017 at 10 AM PDT / 1 PM EDT we invite you to see the next installment in our highly successful Revenue Recognition Webinar Series.

This new webinar will focus on: "Ease the Burden of Complex Disclosure Reporting with Bramasol's Pre-Built Reports"

There is less than six months left until the mandated adoption of new Revenue Recognition standards ASC 606 and IFRS 15.

Disclosure reporting under ASC 606 for RevRec will be complex and require extensive quantitative and qualitative data and notes. Spreadsheets are not up to the task. Learn how Bramasol can save you time and money on your preparation and audit for Financial Disclosures for your 10K/10Q. We have developed 10 key reporting tools that gather the majority of key information for you and present them in easy to use formats.

Reserve your seat now by registering here. 

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NOTE: We will be providing a recording of the webinar to all registrants so I encourage you to register even if you cannot make the live session.  Click here to watch videos from previous webinars in this series.

 

 
  
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Topics: revenue recognition

Disclosure Reporting for Revenue Recognition: What You Need to Be Doing Now

Posted by Bramasol RevRec Team on Wed, Jul 5, 2017 @ 07:58 AM

There is less than six months before the mandated adoption of new Revenue Recognition standards ASC 606 and IFRS 15.

Since companies need to comply with legal disclosure reporting requirements, including a retrospective dual-reporting period between current ASC 605 and new ASC 606, it is critical that you have a clear disclosure reporting plan in place, NOW!

According to an SEC official at a recent Bloomberg BNA conference, "a number of companies have enhanced their transition disclosures. However, some companies indicate that the impact of the new revenue standard is not expected to be material. The changes in the new revenue standard will impact nearly all companies. Even if the extent of change on the balance sheet or income statement is not deemed to be material, the related disclosures may be material."

Compliance with the law is Not Optional.

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Even before the January 2018 go-live date for the new standards, companies will need to start disclosing information regarding the impending changes as part of their regular 10Q and 10K financial reports.

This new eBook provides an overview of how the new standards will impact both business operations and financial reporting. Subsequent sections offer a deeper look at how companies can comply with the new revenue accounting standards while efficiently using the Operational Report data to inform and drive their Statutory Reporting requirements, such as Income Statement, Balance Sheet, Cash Flow, etc.

Please complete the info below to read the eBook:

 

 

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Topics: revenue recognition

RevRec Webinar Video: Dual Reporting How SAP RAR Facilitates Gathering Key Data

Posted by Bramasol RevRec Team on Wed, Jun 28, 2017 @ 03:07 PM

We invite you to view the latest video in Bramasol's highly successful Revenue Recognition Webinar Series.

Recorded on June 28, 2017 this new webinar focuses on:
"Dual Reporting - How SAP RAR Facilitates Gathering Key Data"

There are only six months before the mandated adoption of new Revenue Recognition standards ASC 606 and IFRS 15.

Since companies need to comply with legal disclosure reporting requirements, including a retrospective dual-reporting period between current ASC 605 and new ASC 606, it is critical that you have a clear disclosure reporting plan in place, NOW!

All companies that have chosen the Modified Retrospective approach to compliance for ASC 606 and IFRS 15 will be required to "Dual Report" for a period of 1 year under both the old and new standards. Many firms will struggle with this needlessly, choosing spreadsheets or convoluted approaches. SAP RAR solves that problem.

In this webinar video, we show you how to simplify, automate and improve auditability of your data for your 10K/10Q reporting.

Click Here to View the Video of this New Webinar and all Previous RevRec Webinars in the Series

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Topics: revenue recognition, SAP RAR

SEC Chief Accountant Cites Need for Urgency on RevRec

Posted by Bramasol RevRec Team on Tue, Jun 27, 2017 @ 03:39 PM

RevRecReady-HotNews.jpgIn his recent remarks to the Annual Life Sciences Accounting and Reporting Congress, the SEC Chief Accountant, Wesley R. Bricker, underscored the importance of urgency on implementing new Revenue Recognition standards.

He placed particular emphasis on making sure that "appropriate transition disclosures are being made so that investors and other market participants have sufficient time to absorb the anticipated effects of the new standard."

Here are some other key highlights from his remarks:

"Timely implementation of the new revenue standard is important. Since my remarks in December 2016 when I said the overall state of readiness may be lagging, progress has been made, but there is still more to do.

Revenue is one of the single most important measures used by investors in assessing a company's performance and prospects, regardless of a company's industry, the nature of its securities, or the capital markets it accesses. Revenue impacts key analytical ratios and bottom line earnings. Companies cannot afford to get the accounting wrong – it deserves close attention by preparers, audit committees and auditors.

The standard, including the disclosures in accordance with the standard, is an important step forward in financial reporting, both domestic and foreign, and when implemented, it is designed to enhance the comparability of companies' reported revenues."

Regarding the state of progress toward implementation, he said:

"In the worrisome column, however, some companies need to make significant progress this year in their implementations.  In a survey of public companies released in October 2016, eight percent of respondents at that time had not started an initial assessment of the new revenue recognition standard, while an overwhelming majority of the others were still assessing the impact. 

Particularly for companies where implementation is lagging, preparers, their audit committees and auditors should discuss the reasons why and provide informative disclosures to investors about the status so that investors can assess the implications of the information. Successful implementation requires companies to allocate sufficient resources and develop or engage appropriate financial reporting competencies.

Successful implementation requires the engagement of senior management throughout an organization.  If there are individuals within your organization that underestimate the efforts required, or the overall importance of a successful implementation of the new revenue recognition standard, you might consider sharing some of our staff remarks on the topic"

To read the full text of Mr. Bricker's click here.

To learn more about getting #RevRecReady and for guidance on handling Disclosure Reporting during the transition, visit Bramasol's Resource Center or click the link below to request a RevRec Consultation.

Request RevRec Consulting Support

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Topics: revenue recognition

Video: CAQ Director Asks Are You Ready for RevRec Standards?

Posted by Bramasol RevRec Team on Wed, Jun 21, 2017 @ 03:14 PM

RevRecReady-HotNews.jpgIn the 100th episode of "Inside America’s Boardrooms," the Center for Audit Quality (CAQ) Executive Director Cindy Fornelli joins host TK Kerstetter to discuss key steps for boards that are assessing implementation of the new revenue recognition standard.

Implementing the new standard will take a significant amount of time and resources for audit committees and stakeholders throughout each company.

Watch this short video summary of what companies need to be doing now:

 

Watch the complete video on the CAQ web site here.

All companies who have chosen the Modified Retrospective approach to compliance for ASC 606 and IFRS 15 will be required to "Dual Report" for a period of 1 year under both the old and new standards (ASC 605 and 606 respectively). Many firms will struggle with this needlessly, choosing spreadsheets or convoluted approaches. SAP RAR solves that problem.

To learn more about dealing with this critical issue, click below to join Bramasol for the next Revenue Recognition Webinar on June 28 at 10 AM PDT - 1 PM EDT.

"Dual Reporting - How SAP RAR Facilitates Gathering and Reporting Key Data"

 

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Topics: revenue recognition

New eBook: End-to-End Management of the Lease Lifecycle

Posted by Bramasol Leasing Administration Team on Tue, Jun 20, 2017 @ 11:50 AM

It is not possible to effectively manage enterprise-wide leasing activities without understanding the context of the lease lifecycle. Without this context, leasing too easily can degenerate into a disjointed series of ad hoc decision points with a high risk of key information falling through the cracks.

For example, in many large organizations, the responsibility for initiating leases may be distributed to regional or local facilities but, without comprehensive control over the full lifecycle, subsequent key events can get overlooked. As a result, companies may unknowingly be paying a large price on evergreen leases that should have been reviewed and/or terminated but simply continue on because of the open-loop nature of such disjointed administration practices.

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Virtually every lease shares a common set of steps in the lifecycle, which can be defined as follows:

  • Lease Definition – the “why” and “what” of the proposed lease (equipment specs, ROI, etc.)
  • Set-up – the contract details, activation, term, payment processes, etc.
  • Onboarding – the receipt, installation, acceptance and operational activation of the asset
  • Operation – the payments, accruals, management, servicing, maintenance, etc. of the asset
  • Termination – formal close-out of the contract at lease-end or another terminating event

Unless these steps are incorporated within a comprehensive automated lease administration process, your company is at significant risk of losing control over your lease portfolio, which will inevitably result in higher costs, wasted time and lack of visibility into the assets on your books. In addition, without such a process your company will likely be at risk of non-compliance with the new FASB and ISAB lease accounting standards (ASC 842 and IFRS 16) that go into effect in 2019.

As long-term innovation partners with SAP, Bramasol and Nakisa have brought together a comprehensive set of solutions and expertise to help companies assess and prepare for the new FASB and IASB leasing standards. These solutions unify disparate leasing data and provide enhanced visibility for companies to make informed decisions on their lease portfolios, assets and liabilities while conforming with the new requirements.

The latest eBook from Bramasol and Nakisa provides a step-by-step look at the key elements in the lifecycle of a lease and details how a comprehensive end-to-end administration approach can improve efficiency, save money, reduce risk and assure compliance with new accounting standards.

Click Here to Download the eBook: End-to-End Management of the Lease Lifecycle

 

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Topics: leasing