NetSuite ERP can help you overcome new revenue recognition guidelines.
Business volatility may have you worried about your financial security. Revenue management can often be set aside if you’re running a steady production operation, but like most businesses, you aren’t.
You have to manage your finances, all while coming up with a revenue recognition plan that generates more business. With ever-changing ASC 606 requirements, forming a solid plan is crucial.
Keeping up with the latest regulations can be challenging, but it’s important that your revenues are recognized and accurately accounted for. If not, you could be putting your business at risk.
Applying revenue management strategy with updated ASC 606 guidelines doesn’t have to be intimidating. You can upgrade your revenue recognition module within NetSuite to fit your needs.
Whether an equal amount of revenue needs to be recognized at fixed intervals, or different amounts need to be recognized at different intervals, you can do this at the click of a button with NetSuite ERP.
The NetSuite Advanced Revenue Management (ARM) module functions on two fundamentals – revenue recognition and fair pricing. Here are four ways NetSuite ARM can help your business grow while also staying compliant.