Over the past eight years, many episodes in this blog series have focused on revenue recognition and how SAP solutions such as Revenue Accounting and Reporting (RAR) have provided a robust foundation for compliance with ASC 606 and IFRS 15. The evolution of SAP RAR and overall Automated Revenue Management (ARM) capabilities has unfolded along multiple paths to support existing users while also establishing a forward roadmap to some signficant new capabilities in SAP Public Cloud deployments.
Over the course of many projects spanning key areas such as revenue recognition, lease accounting, and subscription-based Digital Solutions Economy (DSE) programs, the Bramasol team of expert consultants has developed a widening range of innovative intellectual property (IP) and unique solutions to both enhance the integration and expand the functionality of SAP applications, including Revenue Accounting and Reporting (RAR), Contract and Lease Management (CLM), and SAP Quote-to-Cash (formerly called BRIM).
In this webinar you will learn about several tools SAP has to help companies manage subscription plans and models. You will hear from SAP BRIM expert, Navneet Bal, about SAP Subscription Billing, Subscription Order Management and Sales and Distribution and gain insights into key decision factors for picking the right one for your business model.
Although the initial compliance phase for ASC 606 and IFRS 15 revenue recognition mandates is in the rear-view mirror for most companies, it's important to also keep a focus on the road ahead because optimization of overall RevRec processes across the enterprise will be key to ongoing success.
Within the scope of a comprehensive Comply, Optimize, Transform™ journey, company decision makers need to understand the importance of integrating RevRec within the ever-changing enterprise-wide landscape of management processes. This blog post provides an overview of how the latest enhancements within the SAP ecosystem can provide a useful roadmap for the next steps toward optimization and ultimately transformation.
The new ASC 606 revenue recognition standard was adopted by most companies within the last three years with public companies adopting first and then followed later by private companies. A core concept in the new revenue recognition approach is the Five-Step model for identifying contracts, performance obligations, transaction prices, allocations, and timing for revenue recognition.
With S/4HANA --- Revenue Accounting, Contract Management and Inbound Processing have been optimized for better performance and improved functionality. The optimized version provides additional features, such as day-based contract modifications, FIORI coverage and HANA based disclosure reporting.
Join team Bramasol and SAP Product Development for a discussion of how SAP Revenue Recognition’s Optimized Contract Management (OCM) can help power you into the Digital Solutions Economy (DSE). With powerful features mentioned above, OCM is the way to go. Team Bramasol and SAP bring together elements and tips & tricks from true world experience for moving you from your ECC RAR platform to the Optimized Contract Management platform.
Webinar: Think You Have RevRec for Projects Done – Think Again. How RAR and Project Systems Take RevRec to a New Level
If you complied with ASC 606 and think you are done, think again. Many of the clients we speak with have complied with the standards without integrating SAP Project Systems and SAP RAR and are now realizing how much manual effort and heavy lifting was needed.
If you are using SAP RAR, did you know that RAR can manage your commissions accounting process as well?
Discover the power of SAP for Lessors through the convergence of Revenue Recognition and Lease Accounting. Is a lease out a Revenue Accounting or Lease Accounting Challenge - it is both! And only SAP and Bramasol can bring you an integrated solution that brings together both of these areas in a seamless way.
Watch Now our recorded webinar on Behind the Scenes of SAP’s Latest Release of RAR for S/4HANA with the SAP product owners and development team - Volkmar Zahn, Gerold Wellenhofer and Pete Graham.