Recap of the Zuora-RGP Webinar on New RevRec Standard Challenges and Solutions

By Saloni Madhok March 19, 2015

Zuora hosted a webinar with one of its new partner, RGP, on the topic, “A Software Solution for your ASU 2014-09 Revenue Recognition Challenges.”

During the live event, Shauna Watson, Global Managing Director of Finance & Accounting for RGP, discussed the challenges involved in implementing this new standard and Zuora’s Director of Technical Accounting, Kathy Pearson, shared information on how RevPro, the company’s signature product, can help manage and automate the complexities of revenue recognition.

More than half of the audience was in the early phase of assessment or just starting to think about this implementation process, according to feedback provided during the webinar.

In addition, about 40 percent of the audience indicated their company could benefit from a possible delay of the effective date of this standard – a topic currently under discussion by FASB.

Audience members were fairly evenly split when it came to their means of managing revenue recognition under the new standard: while 20 percent planned to transition to a new automated solution, another 21 percent chose to stick with spreadsheets and 20 percent would remain with their existing ERP solution. Another 13 percent of those in the audience planned to continue using their existing automated solution under the new standard.