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.

Automate and simplify your Standalone Selling Price processes with tools from the Leader in SAP Revenue Accounting, Bramasol.

Now that the compliance deadlines are done, firms are seeking ways to Optimize their Revenue Accounting Processes and one of the keys is Standalone Selling Price. Watch now our recorded webinar on March 25, 2021 to hear from experts.

At the heart of Step 4 of the RevRec 5 Step Model, Standalone Selling Price is the crucial component to this process, and we can help you simplify and automate the process while increasing flexibility and scalability.

Hear from our experts on how this tool can benefit your SSP process and reduce the time required to manage it across multiple revenue streams.

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.