Exari Delivers Revenue Recognition e-Book for Contracts Professionals
How to comply with International Revenue Recognition Standards ASC 606 and IFRS-15
Boston, MA – February 28, 2017 – Exari, the leading provider of enterprise contract management software, today announced the release of its e-Book titled “What Every Executive Needs to Know About International Revenue Recognition Standards.”
Companies are now challenged with finding an efficient and definite solution for comparing financial statements to comply with the new standards by 2018. Revenue is crucial and one of the most important financial metrics that affects businesses. To prepare for the new standards, businesses will need to capture, organize, analyze and improve their contract management processes
Companies should prepare right away for the transition to the new standard, according to a 2016 report from the American Institute of Certified Public Accountants. The report also says that companies should also evaluate the potential impacts on financial statements, information systems, processes and controls.
The Revenue Recognition eBook explains the deadline for recognizing revenue and identifying the impacts for businesses. The guide gives a step by step game plan for assessing the situation and how implementing a contract management system will organize documents and make key information within them readily accessible.
“All businesses are challenged with accurately extracting contractual terms out of their unstructured contracts,” says Mike Maziarz, Chief Marketing Officer at Exari. “Enterprise contract lifecycle management systems like Exari play an essential role in transforming contracts into data allowing businesses to comply with revenue recognition standards, manage risk, and improve the operating performance of their companies.”
In this guide, Executives will discover steps that offer a streamlined approach for assessing and adopting a contract management solution. Getting organized with a complete contract management platform will help businesses gain deeper insights into their contract portfolio for analyzing data instantly.
This informative eBook will cover:
- What to consider when performing an initial assessment of your contract portfolio
- How the new standards impact your organizations systems, processes and internal controls
- Different types of methods to adopt and the pros and cons of each
- How Artificial Intelligence (AI) paired with Contract Management is the key to success
- A checklist for contracts professionals to help get started
Exari is the market-leading Enterprise Contract Management platform for delivering 100% Contract Certainty™. Hundreds of thousands of users across 80 countries use Exari for contract creation, negotiation, contract analytics as well as for strategic sourcing. Five of the top fifteen global banks, four of the world’s top insurance brokers, and numerous market-leading energy companies use Exari.
Exari is headquartered in Boston, Massachusetts with offices in Oslo and Bergen, Norway, London, UK, Munich, Germany and Melbourne, Australia. Learn more at www.Exari.com