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Webinar on SAP RAR Updates, SP2 and Roadmap, August 24, 2017

Posted by Bramasol RevRec Team on Fri, Aug 18, 2017 @ 05:48 AM

On August 24 we invite you to see the next installment in our highly successful RevRec webinar series. 

SAP RAR Updates on SP2 and Roadmap
August 24, 2017 10 AM PDT - 1 PM EDT

In this webinar, Bramasol and SAP will cover updates to SP2 and discuss the roadmap for SAP RAR. 

With less than five months until the mandated adoption of new Revenue Recognition standards ASC 606 and IFRS 15, it is critical for companies to be actively implementing their plans now. Following the SAP RAR roadmap offers a streamlined path to becoming #RevRecReady and assuring compliance. 

 Reserve your seat now by registering here

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We look forward to seeing you there.  Take action today by signing up.

Also, you or a colleague may be interested in these other webinars from Bramasol in August:

Financial Transformation with S/4HANA Cloud ERP & Analytics - August 22, 2017

What's New with Lease Administration by Nakisa - August 29, 2017 

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Topics: SAP Revenue Accounting and Reporting

SAP RAR Global User Group Meeting on April 7, 2016

Posted by Bramasol RevRec Team on Mon, Apr 4, 2016 @ 06:54 AM

Please join SAP and Bramasol for the Fifth SAP Revenue Accounting and Reporting (RAR) Global User Group Meeting on Thursday April 7 from 2 – 3 PM EST.

An update on SAP Revenue Accounting and Reporting v1.2 System Acceptance Testing (SAT – customer testing) event that took place March 28 – April 1, 2016 will be given.  Also, we will provide an update on the planned roadmap for SAP Revenue Accounting and Reporting (RAR) v1.3.

We will use GoTo Meeting for the event and will try to record the session.*

https://attendee.gotowebinar.com/register/2373280828410934532

The GoTo meeting will be opened 30 minutes prior to the meeting start to allow for users to join more easily.

Join Bramasol & SAP in the  Revenue Accounting and Reporting  User Group: Register Here

Join the Rev Rec Ready LinkedIn Group

 

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Topics: SAP Revenue Accounting and Reporting

Webinar March 24: SAP RAR 1.1 - A Dive into New Scenarios

Posted by Bramasol RevRec Team on Fri, Mar 11, 2016 @ 06:18 AM

Join Bramasol for the next session in our well-received webinar series on Revenue Recognition.
To register, click here or on the image below.

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Topics: revenue recognition, SAP Revenue Accounting and Reporting

Feb 25 Webinar: Using Proof-of-Concept to Jumpstart Rev Rec Projects

Posted by Bramasol RevRec Team on Tue, Feb 16, 2016 @ 07:23 AM

Reminder:

The next Revenue Recognition Webinar is Thursday, Feb 25th

Jumpstart Your Rev Rec Project with a Great Proof of Concept

With 2016 shaping up as the Year-of-Action to get ready for new Revenue Recognition requirements, it's time to get started.  But how do you take that first step?

As the leader in SAP Revenue Recognition, Bramasol's experience has shown that using a targeted Proof of Concept (PoC) can be a great way to jumpstart the process and to begin fleshing out the bigger picture.

In this new webinar, Larry McKinney, Bramasol VP of Strategy, will share specific insights from numerous successful PoC's that can help you jumpstart your journey to complying with the new FASB and IFRS Rev Rec regulations.

If you haven't registered already, below are the details and registration link.

Bramasol Rev Rec Webinar:
"Jumpstart Rev Rec with a Proof-of-Concept"
February 25, 2016 1 PM EST / 10 AM PST

 

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.

RevRec Webinar:   

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Topics: revenue recognition, SAP Revenue Accounting and Reporting

SAP RAR Cloud Solution gets Rev Rec Up and Running Quickly

Posted by Bramasol RevRec Team on Mon, Feb 8, 2016 @ 09:00 AM

Bramasol, the leader in SAP Revenue Recognition, is now offering SAP RAR in the Cloud Solutions to help you get Rev Rec projects up and running quickly.

We offer a cloud based SAP RAR solution that can send and receive to and from most major platforms including, SAP, Oracle, Microsoft Dynamics, or even Excel. 

Reduce the stress of upgrading, migrating platforms, or complex integration.  Using Amazon Web Services (AWS) to host the latest version of SAP RAR, we can have you up and running quickly and cost effectively.  Bramasol's certified SAP Revenue Accounting and Reporting consultants can work with you to set up your system, choose scenarios and get you started.

Click below to learn more about what Bramasol's SAP RAR in the cloud can do for you.

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Topics: revenue recognition, SAP Revenue Accounting and Reporting, SAP RAR

RevRec Ready - Hot-Tip #12 Leverage RevRec to Drive Transformational Actions

Posted by Bramasol RevRec Team on Tue, Feb 2, 2016 @ 06:00 AM

RevRecReady-HotTipView RevRec as an Opportunity to Transform and Improve Processes 

The extent of impacts will vary by industry and by organization within the industry, but all companies will be impacted.  Some of the changes this will cause include additional or expanded disclosures, the inclusion of additional estimates and judgments in external Financial Reporting, and most likely new or modified business processes and controls.

It is important to note the last impact item from above: new or modified business processes and controls.  The new standard is not just an accounting exercise, but rather extends well past technical accounting into core business processes.

To get lots of detail on how to leverage these opportunities,, click here to read Larry McKinney's blog post "Revenue Recognition Projects: Driving Transformational Actions" on LinkedIn Pulse.

 

 Read all of the RevRec Ready Hot Tips here.

 Don't miss the upcoming webinar on February 25!

 RevRec Webinar:

Subscribe to the Bramasol Ignite Possible blog for a new RevRec Ready Hot Tip every week!

 

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Topics: revenue recognition, SAP Revenue Accounting and Reporting, revrec hot-tips

Insights from the Recent Revenue Recognition Bootcamp

Posted by Larry McKinney on Thu, Dec 17, 2015 @ 03:51 PM

Revenue Recognition changes are coming quickly and many companies have already begun to evaluate what compliance with the new standards means to them.  Some companies still have to evaluate the impact…to those companies I say the time is now.  The new Revenue Recognition guidelines take effect January 1, 2018 and the date is rapidly approaching. 

At the recent Revenue Recognition Bootcamp in Boston hosted by Bramasol—along with SAP, PwC, and Nakisa—many companies indicated they had begun evaluating the impacts of the IFRS 15 and ASC 606 (Revenue Recognition) changes but needed direction on how to approach implementing those changes.  If this sounds like the situation you are facing, you are not alone and more importantly, we are here to help.

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The simplest way to look at how the changes impact you is to do the following:

  1. Perform an Impact Assessment – Work with an accounting firm to understand how the changes impact your business.  In some cases this will not only be a reporting impact, but a business process impact.  Consider a company that pays its sales staff based on the revenue they generate.  Now the timing of that revenue is impacted.  Certainly consideration will have to be given to the compensation of the sales staff as the metric for determining compensation has changed.

  2. Identify the types of contracts you have – Group like contracts together.  If you have time based contracts, milestone based contracts, or contracts that include a gift with purchase component, it is important to identify how many different types of contracts you have.  This will help to determine the Performance Obligations (the goods or service) you will need to fulfil under the new method for recognizing revenue.

  3. Participate in a Proof of Concept (POC) – A POC enables you to actually see how the changes are implemented for your scenarios and what the new standards will look like.  A POC will use your data and contracts to prove out the solution provided by SAP.  This solution is included in your maintenance (so there is no additional software or license costs) and will work with anyone on SAP ECC EHp5 or higher.  It is fully integrated, supported, and ready for HANA.  Bramasol has been working with the product since its inception and are experts in its implementation.  We work closely with SAP and their development team on identifying requirements, testing the software, and supporting early adopters.

  4. Initiate a project – After completing the above steps, it is time to take action and start the project to implement a Revenue Recognition solution.  Bramasol has been involved in many POCs and several projects and one thing is certain, the time to start is now.  The earlier you get started, the more time you have for testing and planning for the change that is inevitable.  There is no indication for the standards boards that there will be a delay, so it is critical to start the process.  Projects range from six months to over two years depending on industry, volume and type of contract, reporting requirements, and preparation done prior to project execution.  I cannot stress this enough, you need to get started as soon as possible if not now.

Hopefully you have found this information helpful.  We at Bramasol, and I in particular, would love to discuss any topic with you in more detail.  Do not hesitate to reach out to us and let us know how we can help you. 

We have a team of consultants and subject matter experts along with our Revenue Recognition Center of Excellence ready to support you throughout the entire process.  We wish you success and look forward to helping you get there.

Request RevRec Consulting Support

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Topics: revenue recognition, SAP Revenue Accounting and Reporting

SAP Revenue Recognition Bootcamp - Boston, Dec 8

Posted by Bramasol RevRec Team on Fri, Dec 4, 2015 @ 09:02 AM

Join us for a complementary one-day forum to help you get your revenue recognition projects off on the right foot.
 
Presented by SAP, Bramasol, PWC and Nakisa. Experts will showcase detailed demos of the solutions available to you, walk through project plans for actual revenue recognition initiatives, and provide tips, templates, and other resources.
 
Through extensive real-world experience and customer examples, you will discover what it takes to evaluate your current contracts and prepare your accounting systems, processes, and data to support the new standard as you:
  • Gain a thorough understanding of the new revenue recognition standard, deadlines, and reporting requirements
  • Walk through a 5-step model for modifying your current revenue recognition processes to meet the new standard
  • Receive decision criteria to help you select and implement the right SAP and third party tools and services to automate and streamline your project
  • Take home best practices for analyzing your current contracts, defining your performance obligations, and setting transaction pricing
  • Understand your two main options to transition: full vs partial retrospective
  • See how other companies are managing the tasks, communication, and coordination between their accounting, IT, policy, and project teams.
  • Prepare for the challenges and nuances of the testing and disclosure phases of this unique project and process.
Attendees are strongly encouraged to bring their important questions to discuss one-on-one with our knowledgeable and experienced panel of experts.
 
 

 

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Topics: revenue recognition, SAP Revenue Accounting and Reporting

Telco Customers Prepare for Accounting Standards Changes with SAP RAR 1.1

Posted by Bramasol RevRec Team on Mon, Nov 9, 2015 @ 10:00 AM

SAP has announced enhancements to the SAP® Revenue Accounting and Reporting application designed to help communications service providers (CSPs) simplify preparations for upcoming changes in International Financial Reporting Standards (IFRS).

The IFRS changes will have significant impact on how carriers recognize revenue. The software enhancements simplify the tasks of archiving large amounts of data, updating forward- and backward-looking information, and integrating with the SAP hybris® Billing solution.

SAP Revenue Accounting and Reporting, version 1.1, is now available for early-adoption customers as part of the SAP Ramp-Up program

For assistance with understanding the benefits of SAP 1.1 or downloading the software, click below.

Request RevRec Consulting Support

 

 

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Topics: revenue recognition, SAP Revenue Accounting and Reporting

NYC RevRec Summit

Posted by Bramasol RevRec Team on Tue, Nov 3, 2015 @ 01:29 PM

It was great to see such a good turnout for the most recent Revenue Recognition Summit, which was held Nov 3 at the SAP office in downtown New York City.  

In addition to the formal presentations from SAP, EY and Bramasol, led by Pete Graham, Solution Leader, Revenue Accounting & Reporting and Simple Finance, there was also a lively give and take discussion between all of  the attendees. 

This series of RevRec Summits is designed to keep companies informed on the newest developments in technology, compliance issues and best practices, while also providing an excellent opportunity for participants to network with their peers and to get answers for their specific questions.

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Thanks to all who attended.  

If you couldn't make it and want to stay informed about future RevRec Summits, click below.  Keep Informed About Upcoming RevRec Events

If you're interested in learning more, sign up here to attend the new Bramasol Webinar Series on Simplifying Finance and Revenue Recognition.

 

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Topics: revenue recognition, SAP Revenue Accounting and Reporting