The busy-as-a-beehive activity within the walls of Leeyo Software was given some context in a recent publication.
The company was prominently featured in a recent article as part of Bloomberg BNA’s Accounting Policy and Practice Report Accounting Policy and Practice Report which supplies news, expert analysis and guidance on accounting issues to financial policy makers, advisors and practitioners.
Titled, “Revenue Accounting Complexity Draws Clients to Cloud Companies,” the article delves into the increased interest in cloud computing platforms as a result of the complex new guidance, set for adoption in 2018.
The new standard, Revenue from Contracts with Customers, ASC 606, is one of the biggest accounting changes in more than a decade, and the repercussions are far and wide.
For companies like ours with our cloud-based revenue automation solution, the increased activity is readily apparent.
As Jagan Reddy, Leeyo Co-founder & CEO, noted in the article, “we used to do one or two demos in a week before, and right now we’re doing at least four-to-five a day.”
The item can also be found online at Bloomberg BNA.