Although some companies think that Revenue Recognition compliance issues are behind them, it's important to remember that the changes mandated by ASC 606 and IFRS 15 are on-going. In particular, the Five-Step Model and concepts such as Standalone Selling Price need to be applied to new product or service offerings today and into the future.
Among the numerous compliance and regulatory changes over recent years, ASC 606 on Revenue Recognition has been one of the most significant and challenging for companies to implement.
Register Now for second episode of a three-part series on using SAP Multi-Bank Connectivity (MBC) to integrate, automate and optimize cash management.
This week's "Friday Big So What" episode focuses on Predictability, with a quick look at why it's important, how it can put people at ease, and a review of what's entailed with creating it.
This week's Friday Big So What episode looks at "Possibilities" and how you can make them reality by leveraging concepts such as Design Thinking, The Art of the Possible and Zero-Based Design approaches. Learn how you can turn the current disruptive environment into real opportunities for change in order to maximize your possibilities in the post-COVID new normal.
Podcast- SAP's Birgit Starmanns Discusses Machine Learning as applied to Finance and Risk Management
Each Friday, I'll be sharing a new "Big So What" episode, which consists of a short (5 minute) discussion of observations on human behavior and directly relates these perspectives to real world challenges in optimizing your finance and business decisions.
This week's episode looks at "Choice" with a peek into how we can become blocked by too few choices or paralyzed by too many!
Self assess your Revenue Accounting Health to get the insights you demand from your RevRec solution.
If you aren’t armed with with accurate and timely information, making the best business decision can be difficult. Our clients often come to us asking about how to enhance their way of doing revenue accounting processes, gain insights on profitability, track contract modifications and other areas to compete and win. The first phase is undertaking is a Health check that examines the organization, structure, and human factors in your solution implementation.
Banking connectivity provides an enterprise-wide foundation for security, completeness, accuracy, and timeliness of your data, along with delivering the insights and visibility to optimize daily cash positions. A fully integrated banking connectivity solution can provide you an insights into where your cash is and with whom and visibility to drive real-time cash positions and much more.
Treasury executives are facing an unprecedented confluence of challenges today, with no reasonable prospect that the massive waves of change will be easing up any time soon. In addition to the black swan event of a global pandemic that has literally shutdown economic activity in much of the world, companies are also dealing with other high volatility forces, such as the Russia vs Middle East oil production standoff and global currency fluctuations.
These and other related forces are combining to create significant new challenges for Treasury, which in turn is accelerating the already existing trend toward greater integration and interoperability of various treasury-related software applications. For example, management of cash positions, working capital and hedges against external risk factors are prime focus areas that can benefit from enterprise-wide visibility along with flexible analytics tools and agile response mechanisms.
Overall risk management entails these four key areas:
- Financial: Cash, Foreign Exchange, Commodities, Exposures, Credit
- Geo-political: Taxes, Tariffs, Trade, Political
- Business Continuity: People, Processes, Supply Chain, Equipment, Real Estate
- Security: Data, Systems, People, Property, Brand/Reputation
Security issues span all aspects of a business. For more info, watch the video of this webinar on Risk and Exposure. In this post, we are focused on three areas, Financial, Geo-political, and Business Continuity, all of which have significant relevance to enterprise-wide treasury integration.