Built for subscriptions and ongoing changes
Subscriptions come with routine contract changes like Upgrades and Downgrades. Finance teams are left with the burden of manually managing all these accounting complexities without automation. You need a Subscription-focused rules engine that understands contract modifications and applies these revenue rules for seamless ongoing revenue operations.
Easily introduce new products and pricing and packaging methods like ramps and bundles with a flexible subscription revenue recognition solution that can handle these requirements out of the box.
Subscription Revenue Insights at Your Fingertips
By automatically generating revenue contract metrics with detailed transaction-level data, you’re in a better position to make informed decisions based on accurate and real-time data. Our revenue recognition software for subscriptions has powerful reporting capabilities that let you schedule regular reports or run them on-demand as you need. You’re in control with the ability to customize and slice and dice across any data point.
Streamline Subscription Revenue Recognition:
Ditch Spreadsheets, Become a Hero.
Without the right technology, revenue recognition can become an incredibly time-intensive process for Subscription businesses. Don’t get caught living in spreadsheets to manage contract start dates, end dates, service activation, deferred revenue, realized revenue, and all the other endless accounting inputs. Our configurable, ASC 606 compliant, subscription revenue software streamlines all of these making your processes seamless. RightRev offers all of these capabilities out of the box and more-from transaction groupings to complex allocation calculations, RightRev frees up your revenue teams by automatically processing contract data, calculating revenue schedules, releasing deferred revenue, and so much more.
Multi-Element Arrangements (Bundled Contracts)
For contracts that include a combination of products such as subscriptions, services, and hardware components, RightRev can combine these elements into a single contract and recognize revenue based on the Performance Obligations and rules defined for each component, including SSP.
Ramp Pricing
Subscription providers can offer ramp pricing, which adjusts based on demand, supply, timing, or other market conditions. The dynamic nature of ramp pricing can make it challenging to allocate revenue from a ramp transaction.
Discounts
Revenue accountants consider discounts in step three of the revenue recognition model, but the standalone selling price becomes complex in step four, especially when combining discounted products or services in a single contract.
Sales Promotions
Sales teams like promotions because they help to secure a sale, and customers are happy to receive a free gift, for example, free of charge, a trial period, or a product to complement a purchase. However, they create complexity and increase risk because revenue accountants have to assign a value to the item, nonetheless, a process typically completed manually.
Milestones or Percentage of Completion
One-time charges’ revenue is not always recognized when billed but may be included in rateable billing schedules based on milestones linked to project stages or a percentage of the project that has been completed.
Consumption
The consumption model, linking revenue to customer usage, complicates revenue recognition depending on the contract structure. Revenue can be recognized in the prior period if invoicing is future-dated.
And more
Don’t let system limitations hinder growth; we understand the headaches associated with product customizations, so we built RightRev with the ability to accommodate any subscription revenue recognition use case out-of-the box.
Transform your accounting team into a growth driver instead of a cost center
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100M+
Demonstrated ability to process hundreds of millions of transactions within minutes.
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$12B+
in customer revenue processed through RightRev
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5X
Close the books 5X faster so you can spend time on more strategic initiatives. In a third-party analysis, RightRev demonstrated a 5X faster close than alternative solutions.
Powering Top Accounting Teams with Automated Revenue Recognition
