The RevRec Summit held in Dallas, TX on August 12th by SAP, EY and Bramasol was a great success, with more than 30 attendees from companies spanning a variety of industries.
You need to consider the needs of people beyond just your in-house users; especially the auditors.
External auditors, who themselves in many cases are uncertain how to interpret the new rules, will have to sign off on the changes. So you need to make it easy for external auditors to understand your process and decisions.
Bramasol is participating in a series of informative RevRec Summits, co-hosted by EY and SAP, with the next two sessions coming up in Dallas on August 12 and Houston on August 20.
The first step to success is revenue accounting.
It’s a joint effort – Part 3 - Using a Structured and Phased Approach
Revenue recognition projects will only succeed if they follow a solidly structured approach. At Bramasol, we have found that one of the aspects causing confusion – in addition to the already complex subject matter – is lack of understanding how to best introduce the SAP Revenue Accounting and Reporting module to an organization, how to prepare good decisions, and when to take those decisions.
Both for consultants, as well as for customers, it is necessary to develop, coordinate, and manage expectations to the benefit of the project.
On July 21st, 2015, my colleague and I were in Walldorf at SAP’s World Headquarters for the announcement of version 1.1 of the Revenue Accounting and Reporting (RAR) solution.
Bill was right. When I joined SAP, then head of the US Sales Bill McDermott used to tell us preparation begets the event. He was right. The more we prepare the better ready we are to execute.
Whether it is a foul shot, a three pointer to win the game, or a penalty shot shoot out at the end of World Cup or putting to win, or lose, the US Open… preparation is crucial.
But in the world of sales and consulting, I would argue preparation is not enough. Winning is about three things: Preparation, Execution and Follow-Through.
