The Time for Action to Meet New RevRec Requirements is Now

The January 1, 2018 RevRec deadline is fast approaching and all companies should already be  formulating their plan for implementing the new standards (ASC 606 and IFRS 15).

Since a prudent approach for many public companies  includes running parallel financial processes for two fiscal quarters, the time left to get ready is not actually 18 months - it is really now less than a year!

Those companies that are on a path to be #revrecready already should have formed their core teams, assessed their data, and started a Proof of Concept to model the changes.  

Unfortunately, a recent survey by KPMG of 140 companies showed that 80 percent of them had not started their RevRec projects and are therefore falling behind the implementation curve. Many are stuck in the assessment phase and need to "get real" ASAP with Proof of Concept and data migration planning.

Is your company on the path to #revrecready success?

In our next RevRec webinar on July 28, we will provide a drill-down into nitty gritty issues of data migration in order to get #RevRecReady