STRATEGIC GUIDANCE
Are unknowns holding you back from pursuing revenue automation?
9 benefits of end-to-end revenue automation
When we talk to CAOs, controllers, and revenue accounting leaders, they often say, “Our revenue process is automated.” However, when we investigate, we discover a web of spreadsheets combined with a customized ERP revenue recognition module. This is not automation.
- 90-98% of revenue is automated in the system.
- Minimal manual interventions to process transactions.
- Real-time access to data and reporting.
- Support for new products and pricing models.
We know what you’re thinking: this level of automation is anything but easy. But we continually hear from customers that the benefits significantly outweigh the costs and implementation efforts. In fact, our customers often say they wish they had automated their revenue processes earlier.
- Scale your business without growing headcount.
- Save time and redirect resources to value-added tasks.
- Reduce errors and risk.
- Simplify audits and reduce audit costs.
- Quickly launch new products and pricing models.
- Gain real-time revenue visibility and streamline forecasting.
- Support strategic transactions.
- Elevate the role of the accounting team in your organization.
- Increase employee satisfaction and retention
1. Scale your business without growing headcount
2. Save time and redirect resources to value-added tasks
3. Reduce errors and risk
4. Simplify audits and reduce audit costs
5. Quickly launch new products and pricing models
Customers are increasingly finding more value in flexible business models, which in turn require businesses to be agile in their contracts — and by extension, the revenue recognition process. These models come with plenty of upside for the business, but new pricing models such as usage-based pricing, new products, or product bundles introduce complexity into the revenue recognition process. This can require additional time and resources to close the books and ensure the accuracy of final revenue numbers. Revenue automation makes it possible to handle greater complexity with fewer resources, streamlining the process for employees across multiple departments (i.e. finance, sales, management, etc.).
6. Gain real-time revenue visibility and streamline forecasting
7. Support strategic transactions
8. Elevate the role of the accounting team in your organization
9. Increase employee satisfaction and retention
Most revenue accountants would prefer to spend their time focusing on strategic tasks, such as analytics or internal deal negotiations with sales or the deal desk, than perform tedious manual processes. While accountants in any entry-level position perform some amount of manual or repetitive tasks as part of their day-to-day responsibilities, revenue automation minimizes low-value tasks and improves employee engagement and retention. These highly skilled professionals shouldn’t have to stay up late performing laborious tasks. Instead, they should be responsible for goals that make a real impact on the business while maintaining a reasonable workload.
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