Bramasol RevRec Team

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RevRec Ready Rapid Compliance Solution for ASC 606 & IFRS 15

Posted by Bramasol RevRec Team on Mon, Mar 19, 2018 @ 04:15 AM

RevRecReady-HotTip.jpgBramasol, the leader in Revenue Recognition solutions, has announced a new, purpose-built product that reduces complexity and gives companies across a variety of industries a ready-to-deploy turnkey solution for disclosure reporting and compliance.

The RevRec Ready Rapid Compliance Solution leverages the power of SAP RAR and combines it with Bramasol’s deep experience to provide a quick start that can get companies up and running in weeks instead of months and for an affordable price. 

This complete, ready-to-deploy approach gives CFOs a proven, fast and reliable way to meet RevRec compliance requirements without the risk of getting stuck in a long, open-ended process that might not yield the desired results.


The deadline to get compliant with ASC 606 and IFRS 15 has passed but many companies are still struggling with complex reporting requirements. Many companies with relatively straight-forward sales structures and simplistic multi-element products/services don’t want or need to become mired in overly complex RevRec solutions or long implementation processes.  But compliance with the new standards is NOT optional, so they need a risk-free solution that fits their specific situations.

“I am very excited about our new RevRec Ready Rapid Compliance Solution” said Dave Fellers, CEO of Bramasol.  “This solution delivers on our desire to help all companies comply with the new ASC 606 and IFRS 15 standards.   It is designed for companies that have simple needs or found that a brute force method doesn’t work and need a quick way to comply.   We have leveraged our more than three years of expertise and created a solution that includes the key elements anyone would need for basic compliance. It is a great first step on the way to transforming compliance into competitive advantage.”

Bramasol’s RevRec Ready Rapid Compliance Solution enables organizations to get ASC 606 & IFRS 15 compliance on a fast track and in a very cost-effective manner. For a starting price of $175,000, the pre-configured starter package includes the following:

  • Set up of SAP RAR in your environment
  • 5 of the Top Most Common Scenarios for Revenue Recognition (scenarios only, no variants)
  • Set of BRF Plus Rules to Drive
  • Documentation
  • Minor Customization - labels, fields, descriptors, materials
  • Out of the Box SAP RAR Reporting
  • Support for First Quarterly Reporting
  • Time with our Center Of Expertise
  • Basic Training Package

Click here to learn more about the RevRec Ready Rapid Compliance Solution

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Topics: revrec hot-tips

Watch How A Leading Automotive Company Relies on Bramasol To Help Them With Complex RevRec Scenarios

Posted by Bramasol RevRec Team on Thu, Mar 15, 2018 @ 11:10 AM

Bramasol recently helped a $9B Tier One Automotive supplier with a customized Revenue Recognition solution to help them become IFRS 15 compliant and optimize their business processes to support them in their quest for continuous performance improvement. The customer has manufacturing facilities located around the world and is a global product leader in clean and efficient technology solutions for combustion, hybrid and electric vehicles.

This organization was very proactive in searching for a comprehensive RevRec solution to help them become compliant ahead of the January 2018 deadline. In addition to being an early adopter, the client had some unique challenges around complex scheduling, engineering design & development and volume pricing. They also had challenges fitting their business processes and revenue postings in the standard SAP RAR functionality. They needed a solution that would integrate to their contract repository system which was under development.

Being a key partner in the SAP Ramp-Up program, Bramasol was the natural choice to help deliver a SAP RAR solution that was flexible enough to support all their accounting and reporting requirements.

Bramasol developed a custom solution to accommodate their requirements for 3 scenarios, configured the standard functionality to achieve the goal of revenue postings and integrated it with the custom contract repository, followed by a successful migration of business process to the new environment. Their goal of fulfilling their customer demand with technological advancements is now simpler to achieve than ever.

Our work was well appreciated by the customer – “Bramasol Provided the technical and functional resources we needed to deliver our project on-time

Watch Customer Story Video

CS_Automotive watch Video.jpg


If you need to get compliant with ASC606, IFRS15, do what the fortune 500 do ...Call Bramasol


Simply Request a Demo Now

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Topics: Bramasol, SAP Revenue Accounting and Reporting, revrec, Success Story, Customer Story

For SAP RAR Success, Only Trust the Best

Posted by Bramasol RevRec Team on Mon, Feb 26, 2018 @ 07:05 AM

RevRecReady-HotTip.jpgThe new Revenue Recognition standards deadline has arrived but the road to successful implementation, disclosure reporting and operational optimization continues throughout 2018.

You made a significant investment in making sure you comply with the latest regulations for revenue recognition, ASC 606 and IFRS 15.  Why trust just anyone to help you optimize your investment?

Other companies claim to know about SAP RAR, but are they the leaders with deep, proven experience on more projects and co-innovators with SAP?  Only one partner is – Bramasol.

Bramasol is leader in revenue recognition consulting and implementation.  And, with over 21 years of SAP experience we have the experience, expertise and people to help you maximize your investment in SAP RAR.  We offer comprehensive ongoing support for your SAP Revenue Accounting solution with support packages tailored to your needs that are flexible, affordable and will help you optimize your investment.

Bramaso Revenue Recognition Leader _tue-tip-27-feb.jpg

Click here to learn more about how Bramasol can help.


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Topics: revrec hot-tips

Video: RevRec Lessons Learned from Customer Projects

Posted by Bramasol RevRec Team on Mon, Jan 29, 2018 @ 06:38 AM


The deadline for new Revenue Recognition standards, ASC 606 and IFRS 15, has arrived. 


Are you #RevRecReady ?


For more than two years, Bramasol has been at the forefront of RevRec implementation, helping many companies understand and prepare for the new standards.

In our most recent monthly Revenue Recognition webinar, we provided a look back on lessons learned from these implementation projects and reviewed where you should be now from a forward-looking perspective.

In this video, recorded on January 16, 2018, you can hear the perspective of the auditor, IT, Finance and Business leaders to understand what they're learned from RevRec projects and the key points about what worked and what didn’t. 

Key issues addressed in the webinar video include:

  • Looking Ahead in 2018
  • Shifting Focus from Early Adoption
  • Considering All Stakeholders Involved
  • Understanding Drivers Behind Each Perspective

Click Here to View Video in Bramasol Resource Center

Revenue Recognition Updates from Projects_Video.png


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Topics: revrec hot-tips

How to Engage with Auditors During Your Revenue Recognition Implementation

Posted by Bramasol RevRec Team on Mon, Jan 22, 2018 @ 07:18 AM

RevRecReady-HotTip.jpgWith implementation of ASC 606 and IFRS 15 now in full swing, one important area that has moved to the forefront is how to work with your auditors to help with a smooth transition and to assure compliance. 

Below is a checklist of key factors to keep in mind for optimizing the audit process and engage with your auditors.

  • Involve your auditors early and often!
  • Perform a thorough assessment of risks that may arise as a result of applying the new standard, considering both the accounting requirements and the disclosure requirements.
  • Use your auditors as a sounding board. Ask for their reactions, while there is still time to reevaluate, modify, and achieve high-quality financial reporting.
  • Communicate initial accounting conclusions.
  • Plan your disclosures early, communicate those plans, and share draft disclosures.
  • Discuss potential changes to internal processes, systems, and controls. Work with your auditors to develop plans for testing new or modified internal controls, including controls over the implementation of new systems to track new or different information.
  • Develop action plans that outline when key analyses, estimates, and disclosures will be ready for audit.
  • Keep your auditors informed as to your implementation timeline and status.
  • Bottom line: engage in open dialogue with your auditors. Share. Involve. Listen. Repeat.

Click here to learn more about RevRec compliance issues and/or request assistance to get #RevRecReady

Checklist key factors for optimizing audit process and engage with auditors Revenue Recognition R1.jpg

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Topics: revrec hot-tips

The RevRec Deadline is Here! Open This for Answers.

Posted by Bramasol RevRec Team on Mon, Dec 25, 2017 @ 04:24 PM

RevRecReady-HotTip.jpgThe deadline for new Revenue Recognition standards, ASC 606 and IFRS 15, is arriving on January 1, 2018. Yes, that is next week!

Many companies have been working diligently over the past year or more to get ready. Bramasol has actively been working with lots of them to provide software solutions, data migration services, consulting on best practices, Proofs-of-Concept (POCs), Pre-Built Disclosure & Compliance reports, and overall change management assistance.

Of course, not everyone is perfectly ready to go.  We know this because thousands of attendees in our monthly RevRec webinars over the past two years have told us via their responses to survey questions. 

The good news is that it's not too late! Yet! (But it will be soon)

The first quarter of 2018 will be an absolutely crucial time for making sure that the most important steps and processes are in place for timely data collection and compliance reporting.

Our Bramasol Center of Excellence experts in Revenue Recognition are seeing a surge of companies that are looking for answers to key questions such as: 

  • What should you definitely have done by now in the implementation process? 
  • How can I make sure that my data migration is on track? 
  • What's the difference between data migration and transition processes? 
  • What are the reporting requirements in the near term and over the next year? 
  • What changes are considered "material" and how/when do we address them in our standard disclosure reporting processes? 
  • How can we coordinate the go-live processes between IT and Finance? 
  • What comes next to ensure long-term success? 

If you'd like catch up now so you can avoid the dire consequences, regulatory sanctions, financial impacts and stock market impacts of being judged non-compliant...

Or, if you just want to make sure that all your efforts thus far are coming together to meet requirements of your auditors and other key stakeholders such as your Board of Directors and shareholders...

Then you're in luck! 
There's one more present to open as you leave 2017!


Contact Bramasol's RevRec Experts for a Free Demo and consultation.

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Topics: revenue recognition, revrec hot-tips

RevRec: FASB Update Regarding Principal vs Agent Considerations

Posted by Bramasol RevRec Team on Mon, Dec 4, 2017 @ 01:25 PM

RevRecReady-HotTip.jpgFASB Issues Accounting Standards Update 2016-08

Revenue from Contracts with Customers
Principal versus Agent Considerations

An issue discussed by the Transition Resource Group (TRG) for Revenue Recognition relates to when another party, along with the entity, is involved in providing a good or a service to a customer.

In those circumstances, Topic 606 requires the entity to determine whether the nature of its promise is to provide that good or service to the customer (that is, the entity is a principal) or to arrange for the good or service to be provided to the customer by the other party (that is, the entity is an agent).

This determination is based upon whether the entity controls the good or the service before it is transferred to the customer. Topic 606 includes indicators to assist in this evaluation. Discussions at TRG meetings informed the Board about implementation issues related to the guidance on principal versus agent considerations, including:

  1. Identifying the unit of account at which an entity should assess whether it is a principal or an agent
  2. Identifying the nature of the good or the service provided to the customer (for example, whether it is a good, a service, or a right to a good or service)
  3. Applying the control principle to certain types of transactions, such as service arrangements 4. Interaction of the control principle with the indicators provided to assist in the principal versus agent evaluation.

To address those issues, the Board decided to add a project to its technical agenda to improve Topic 606 by reducing:

  1. The potential for diversity in practice arising from inconsistent application of the principal versus agent guidance
  2. The cost and complexity of applying Topic 606 both at transition and on an ongoing basis.

Who Is Affected by the Amendments in This Update? The amendments in this Update affect entities with transactions included within the scope of Topic 606. The scope of that Topic includes entities that enter into contracts with customers to transfer goods or services (that are an output of the entity’s ordinary activities) in exchange for consideration.

For more information, read the FASB Update here.


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Topics: revrec hot-tips

Join Us for SAP RAR User Group on November 16, 2017

Posted by Bramasol RevRec Team on Wed, Nov 15, 2017 @ 04:20 AM


SAP Revenue Accounting and Reporting (RAR) User Group
November 16, 2017 - 12:00 PM EST - 9 AM PST

The next (Eleventh) user group meeting will be held this Thursday November 16, 2017 from 12:00 PM EST - 1:00 PM EST (9:00 AM - 10:00 AM PST). 

Pete Graham, Director Finance Solutions and Mobility, SAP, will cover updates on SAP Revenue Accounting and Reporting (RAR) 1.3 SP03, followed by a Q&A session with attendees.

Register Here to attend the SAP RAR User Group meeting online.



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Topics: SAP RAR

Ease the Burden of Disclosure Reporting with Pre-Built Reports

Posted by Bramasol RevRec Team on Mon, Nov 13, 2017 @ 05:26 AM

RevRecReady-HotTip.jpgThere is less than two 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!

Using SAP Revenue Accounting and Reporting (RAR) as the engine to track sales contracts and revenue recognition enables implementation of ASC 606 requirements within SAP ERP/ECC, S/4HANA Cloud or 3rd Party ERP environments.  RAR also facilitates the ability to create highly-flexible analytics to provide companies with the specific quantitative information needed to fulfill statutory reporting requirements.


As the leading co-innovator with SAP on the development of SAP RAR, Bramasol has more SAP RAR implementation projects and active live SAP RAR sites than anyone in the industry.  Bramasol has created a rich set of management and visualization tools to enhance the modeling, pilot, implementation and transition processes. SAP RAR can go-deep on any aspect of revenue recognition and the Bramasol enhancements are designed to visually surface any set of relevant information needed to support accurate understanding and timely decision making.

With Disclosure Reporting now on the near horizon, Bramasol has once again taken proactive steps to help companies stay ahead of the curve by developing a collection of specific reports for public entities to meet ASC 606-10-50x disclosure reporting requirements.

Bramasol’s end-to-end integrated solutions for revenue recognition compliance fit seamlessly within any existing operational and financial systems while providing the detailed information, audit trail, aggregation methodologies and advanced analytics to support statutory disclosure reporting. 

Click Here to Download eBook on RevRec Disclosure Reporting

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Topics: revenue recognition, revrec hot-tips, SAP RAR

Structured Data Migration is Critical for Revenue Recognition Compliance

Posted by Bramasol RevRec Team on Mon, Oct 23, 2017 @ 06:04 AM

RevRecReady-HotTip.jpgNew Revenue Recognition standards, ASC 606 and IFRS 15, are mandated to take effect in January 2018, which is now less than three months away. 

Companies that are serious about achieving compliance should already be actively immersed in the data migration process.  Unfortunately, many companies are struggling with how to go about this key factor for success.

Data Migration is essentially the process involved with copying an organization’s key data from one device to another device ideally without disturbing or deactivating live applications.

As an industry leader in implementation of the new RevRec standards, with extensive experience in change management, Bramasol has developed a proven, structured methodology for Data Migration, which was detailed in our recent webinar on September 28, 2017.


Click Here to View the Webinar Video on "SAP RAR Data Migration and Reporting".

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Topics: revrec hot-tips

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