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.

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?

Watch our recently recorded webinar to find out how!

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.

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.

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.

Join us for the latest updates on SAP RAR on SAP S/4HANA. Bramasol and SAP Presenting a more in depth view of key features of the latest version of SAP RAR for SAP S/4HANA 1909 including Optimized Contract Management, Fiori Enhancements and reporting updates. We have also covered some of these features in SAP RAR.