RevPro OnCloud Usage up 140% as User Demand and Market Expansion Usher Next Phase in Services Adoption
San Jose, CA (PRWEB) March 18, 2015- Leeyo Software today announced a record 140 percent increase in customer deployment of its RevPro OnCloud solution as the company strengthens its commitment to the growing focus on cloud services as a business innovation platform. Already one of the world’s pioneering providers of revenue cycle automation software, Leeyo’s latest deployment figures depict a cross-industry user base in step with the changing ways companies consume and use information technology.
The rise in cloud deployment was accompanied by a 100 percent increase in average annual contract value last year, Leeyo reported. The trend is likely to continue as more companies, especially technology providers, follow the lead of their consumers.
Rachel Wong, Corporate Controller at Leeyo customer PopSugar agrees about the importance of the on-cloud availability of RevPro software. “Leeyo is the right partner for us because they understand the complex revenue recognition rules,” she said, “RevPro OnCloud is a scalable and flexible platform that we can rely on.”
“The increased adoption of smart phones and tablets has really helped accelerate people’s usage and comfort level with the cloud,” said Chris Kradjan, partner with Moss Adams LLP, an accounting and business consulting firm working with Leeyo. “Most of the big technology companies are moving their solutions to the cloud to respond to their customers in the most effective way to deploy technology.”
As the focus for cloud adoption shifts from savings to innovation, worldwide spending on public IT cloud services, which hit $47.4 billion in 2013, is expected to more than double that figure with more than $107 billion forecast for 2017, according to International Data Corporation.
Gerard Genesse, Director of Financial Systems for educational resource firm Chegg, said in seeking out a cloud-based revenue recognition solution with Leeyo, “It is nice to have a scalable professional solution that requires little or no IT involvement. It can be implemented faster than home-grown hosted solutions and can leverage built-in best practices from across the industry.”
Today’s increased adoption rate brings with it a higher degree of scrutiny in the quality of controls in place for cloud providers, said Kradjan, who heads up his firm’s IT audit and consulting practice. Leeyo is currently undergoing its third independent service organization control (SOC) 2 Type 2 audit with Moss Adams. The SOC 2 report, endorsed by the Cloud Security Alliance, goes beyond financial reporting controls to examine cloud-based systems for security, availability, processing integrity, confidentiality and privacy. The company is also in the process of evaluating whether SOC 1 Type 2 is applicable.
“Leeyo has clients and customers excited about adopting their technology and that’s why they reached out to us, said Kradjan, noting the company “has shown a commitment over multiple years now of wanting to provide that third party review to the market around their controls.”
Leeyo’s next-generation revenue recognition software rescues companies and revenue teams of all sizes from the chaos of today’s manual data entry or customized processes. Leeyo’s RevPro – the most complete revenue recognition software suite on the market – automates and manages every process facing a revenue team – seamlessly integrating with the quote-to-cash processes of any ERP system to deliver unparalleled visibility, functionality and configurability to the revenue recognition and reporting process. Learn more about Leeyo and RevPro at http://www.Leeyo.com.
Contact: Matt Ream