Lead the transition to the new rules and drive your compliance initiative powered by Jade Global’s expertise and support
ASC-606 is a definite push to become the norm for all companies in the coming years and seems to be similar to the SOX compliance initiative run in early 2000. All companies must comply by 2019!
Given the to drive towards a compliance need to be addressing and inheriting the requirements for ASC-606, the applications and support to the enable this is an imperative strategy to move to a supported automation platform. With the need to gather data from various source systems and the need to keep them stable and ongoing it is easy to hone in on the solutions available – RevPro, Oracle Revenue Management Cloud Service (RMCS) and Netsuite’s ARM. There are a few other solutions in the market but the ones above are the leaders and many organizations are using these products.
All of these solutions are available exclusively in the Cloud (or on-prem if required), though the push is to move to the Cloud eventually. These solutions have the capacity and are designed to consume data from various sources and push data out to financial systems after applying your revenue rules and policies in a systematic manner.
Jade with its experience with multiple revenue recognition projects even before the onset of the new ASC-606 requirement has the experience and expertise to drive your requirements and build a design within these products to provide you the revenue recognition rules engine to address your business needs.
With the breadth and depth of Jade Global’s Oracle experience coupled with its focus on business process along with the integration practice, we can provide you the tools and support to get the most from your transformation to the new rules.
Our assessment will look at your business applications and technology with focus on building a comprehensive and end to end roadmap. With a focus on business process and streamlining your work flow the transition will be smooth and supportive of your outcome. We also have tools and work products that help manage data inconsistencies within your source systems that will help provide the data needed to ensure the revenue recognition rules/engine can perform to its best capabilities.
Assessments are executed by our senior application with process expertise and solution architects with several years of experience working in similar situations.