Managing contracts and recognizing revenue are critical yet often complex tasks, especially for businesses with subscription models, multi-element arrangements, or intricate pricing structures.
Without the right tools, these processes can become overwhelming, making it difficult to stay compliant, track revenue accurately, and manage contract modifications or renewals. Outdated or disconnected systems can lead to revenue leakage, compliance risks, and limited visibility into financial performance.
Sage Intacct’s Revenue Recognition and Contract Management solution simplifies these challenges by automating compliance, streamlining workflows, and providing real-time financial insights.
Let’s explore the key capabilities that make Sage Intacct an essential tool for contract management.
Stay Compliant with ASC 606 and IFRS 15
Sage Intacct is designed to help businesses stay compliant with ASC 606 and IFRS 15 standards. These regulations require companies to recognize revenue based on performance obligations rather than traditional invoicing, which can be challenging without the right tools. With Sage Intacct, businesses can automate revenue recognition calculations and ensure compliance with the latest financial reporting standards.
Automate Subscription and Revenue Accounting
Recurring revenue models require efficient and accurate accounting. Sage Intacct automates subscription-based revenue management, eliminating manual calculations and reducing the risk of errors. Businesses can set up predefined rules to ensure revenue is recognized appropriately over time, improving financial accuracy and reducing administrative burden.
Manage Tiered Pricing and Usage-Based Billing with Ease
Sage Intacct supports businesses that offer tiered pricing and usage-based billing by automatically tracking and applying the correct billing structures. Whether customers are billed based on flat-rate subscriptions, consumption levels, or a mix of both, Sage Intacct ensures accurate revenue recognition and seamless billing adjustments.
Simplify Complex Revenue and Expense Recognition
Many businesses deal with multi-element arrangements that require complex revenue and expense recognition. Sage Intacct streamlines this process by allowing users to allocate revenue across multiple performance obligations while ensuring accurate cost matching. This reduces the risk of revenue misstatements and enhances financial compliance.
Align Revenue Recognition with Billing Schedules for Greater Accuracy
In many cases, revenue recognition timelines do not align with billing cycles. Sage Intacct allows businesses to create customized revenue schedules separate from invoicing schedules. This ensures that revenue is recognized at the appropriate time while maintaining clear, auditable records.
Automate Contract Renewals and Prevent Revenue Leakage
For businesses managing recurring contracts, Sage Intacct automates contract renewals, reducing manual effort and preventing revenue leakage. With built-in automation, businesses can easily manage renewal terms, pricing adjustments, and contract extensions without the risk of missed renewals or delays.
Manage Evergreen Contracts for Ongoing Relationships
Sage Intacct supports evergreen contracts, enabling businesses to maintain ongoing customer agreements without predefined end dates. This functionality is particularly useful for SaaS providers and service-based companies looking to streamline contract management and revenue forecasting.
Gain Real-Time Financial Insights and Improve Revenue Forecasting
With Sage Intacct, businesses gain real-time insights into financial performance, revenue projections, and contract-based financial metrics. Advanced reporting tools provide visibility into deferred revenue, contract liabilities, and profitability, helping businesses make informed strategic decisions.
Seamless Salesforce Integration for Streamlined Collaboration
Sage Intacct seamlessly integrates with Salesforce, allowing sales and finance teams to stay aligned on contract details, revenue recognition, and billing information. This integration improves collaboration, reduces data entry errors, and ensures that financial processes run smoothly from contract creation to revenue recognition.
Optimize Revenue Recognition and Contract Management with CBIZ CompuData
Contract and revenue management doesn’t have to be overwhelming. With Sage Intacct, businesses can streamline complex processes, reduce compliance risks, and gain real-time financial insights.
As a leading Sage partner, CBIZ CompuData is here to help you implement and optimize Sage Intacct. Our team works closely with you to streamline contract management, automate revenue recognition, and provide actionable insights into your financial performance, making sure everything aligns with your unique goals.
Ready to enhance your revenue recognition and contract management? Contact us today to unlock the full capabilities of Sage Intacct.
