Advanced Revenue Management
NetSuite’s Advanced Revenue Management (ARM) module simplifies the way companies comply with industry guidance and standards on revenue recognition. As the leader in cloud-ERP, NetSuite’s new award-winning revenue management solution streamlines the way revenue is recognized and allows users to automate revenue recognition, allocation, reclassification, and forecasting all in a single module.
Key Benefits
Standard Compliance
Evolving standards and industry mandates put a heavy burden on finance and IT departments of all companies adopting ASC 606. NetSuite’s ARM module allows users to be assured of compliance with all permutations of the new revenue standards.
Real-time Revenue Reporting
The ability to analyze and report on real-time revenue and forecast for future periods on all expected revenue postings. Whether the sale is a single performance obligation or a bundle of deliverables, the module seamlessly accounts for each transaction and allows drill-down functionality.
Flexible Revenue Management
The flexibility to adjust and update Revenue Elements within a Revenue Arrangement allows users to change attributes such as revenue rules, revenue start and end dates, and revenue allocation amounts of all revenue performance obligations.
Multi-Book Accounting Unification
The Advanced Revenue Management module works with NetSuite’s Multi-Book Accounting functionality to allow users to post a single transaction under multiple accounting standards in multiple currencies – even taking into consideration fluctuations in exchange rates.
Built For All Industries
Software & High Tech
Many high-tech companies will be impacted by the elimination of VSOE, TPE, and ESP – The changes in industry-specific guidelines will change the way high-tech companies determine transaction price.
Services & Solution Providers
As more service-oriented firms continue to bundle software/hardware with services, they must find ways to streamline the recognition of multiple performance obligations.
Services & Solution Providers
This ‘products’ driven market is evolving into more complex models which include customer-loyalty programs and other subscription-based revenue streams.
Manufacturing
With the introduction of ASC 606, some manufacturers may benefit with the ability to recognize revenue over time rather than the tradition approach of revenue recognition at delivery.
Advertising & Media
The identification and nature of intellectual property (IP) is classified as functional or symbolic –This will dictate whether revenue should be recognized over time or at a specific point in time.
Not-for-Profit
Revenue streams for non-profit organizations may be impacted by ASC 606 from the scope and nature of contributions – Subscriptions, licensing, and membership fee revenues must be evaluated for potential impact
Start Today.
Let our team of financial experts assist your company with all your revenue management needs in NetSuite. Our experience and knowledge will help your organization overcome the complexities surrounding the new standards and will efficiently implement them in your NetSuite environment.
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