Every company needs to track and report revenue and it rarely is an easy process.

But it really doesn't have to be unnecessarily complicated.

The newly released SAP Revenue Accounting and Reporting application now offers a simplied path forward that both meets the specific mandates in the new FASB and IASB accounting standards and provides enhanced management capabilities for generic or company-specific revenue recognition across various accounting principles.

SAP Revenue Accounting and Reporting was developed closely with customers and co-innovators like Bramasol, as well as SAP’s internal accounting department, by analyzing the standard and assessing how best to design an integrated solution to cover the new requirements.

When January 1, 2017 arrives, companies across all industries that follow US GAAP and IFRS rules will be required to comply with the new five-step model for revenue recognition.  On May 28, 2014, the FASB and the International Accounting Standards Board (IASB) issued converged guidance on recognizing revenue in contracts with customers.  The process calls for implementation during 2016 and “go live” reporting under the new standards in 2017.

Unlike the previous revenue accounting standard that was industry-specific and transaction-specific, the goal of the FASB and the IASB in the new standard is to introduce uniformity and predictability to revenue recognition practices. Among the industries that are likely to experience significant changes are aerospace, asset management, construction, real estate, software and telecommunications. Changes won’t be limited to these industries, therefore all companies need to develop an implementation plan. 

The Supply Chain Takes Center Stage

Every few years, a game-changing event materializes that generates a significant impact on the internal audit profession. Take, for example, the U.S. Sarbanes-Oxley Act of 2002 and similar legislation around the world enacted more than a decade ago. Usually, we immediately recognize the importance of such an event, the risks it creates for our organization, and how it will impact our internal audit functions.​

Light – a 4 million-consumers Distribution utility in Rio de Janeiro, Brazil, faced a non-technical losses indices increase in the last decade. There was a need for paradigm shifting - a solution whose efficacy should  not be restricted to a subset of consumers in the concession area of Light. With this objective, Light hired Choice Technologies for the implementation of Revenue Intelligence to change the scenario faced in recent years.To read more...

With its attractive, easy-to-use interface; social collaboration features; real-time analytics for ‘in-the-moment’ intelligence and mobile access, SAP Cloud for Sales from Bramasol, Inc has transformed our lives. We now work smarter and sell better.

Learn more by downloading the solution overview below:

Beat your data management challenges :

The critical business driver of succession management is talent continuity — motivating, developing,and retaining employees to execute on the company’s long-term growth plans. A comprehensive succession management strategy answers the following questions:

• Do you have the right people with the right skills for today and tomorrow?
• Do you have the bench strength to reduce the risk of turnover in leadership or key positions?
• Are you offering the right development to prepare high-potential employees for greater responsibility?
• Where are the skills and talent gaps in your workforce? Are you taking the right steps to address them?
• Are you providing your people with diverse cross-functional experiences and exposure to leaders across the company?
• Can you find and compare your candidate options quickly and easily when it’s time to promote?

To get answers download th e-book below.

Take an interactive tour of SAP BusinessObjects, courtesy of Bramasol Inc. and SAP, and see how visibility across your business’s data can fuel your potential across the market.As the economy builds up steam, make sure you’re building on your power to capitalize on it. Start by having the visibility and insight across your company’s data - so you can make the informed decisions that help drive profitable growth.Register below to take the interactive tour of SAP BusinessObjects, courtesy of Bramasol Inc. and SAP.