Leeyo Software: Automating Complex Revenue Processes

As an enterprise evolves, expands globally, accepts new and more flexible payment methods, or participates in M&A activities that end to experience severe complexities in revenue recognition. The introduction of a game-changing new revenue recognition guidance such as ASC 606 and IFRS 15, “Revenue from Contracts with Customers”, considerably adds additional complexities to revenue calculations and management. The current revenue processes that businesses use are often manual, involving complicated spreadsheets and hours of wasted manpower, which are not sufficient to keep pace and scale with the rapidly evolving business models. Also, existing ERP systems are not equipped to handle the complexity of revenue elements that may differ from company to company, such as SSP, Performance Obligations, variable consideration and dual processing. Addressing these challenges is Leeyo Software with its RevPro solution that automates the complex details of revenue recognition, collects data from multiple sources and performs functions including transaction grouping, allocations and fair-value calculations to supply outputs quickly and easily. “RevPro simplifies management of complex revenue processes through software automation and expert integration,” remarks Jagan Reddy, Co-founder, CEO and CTO, Leeyo Software. “RevPro integrates with all ERP systems—as a Cloud or on-premise solution to deliver visibility, functionality and configurability to the revenue recognition and reporting processes.”

RevPro consists of four main modules designed to fit individual needs, based on corporate business and revenue policies: Revenue Management & Allocation, Variable Consideration Analyzer, Revenue Forecasting, and Revenue Intelligence/RevPro Analytics, all helping to simplify the complete revenue recognition cycle. TheRevenue Management & Allocation module helps businesses manage timing, amount, and amortization method of revenue recognition, along with automation of fair value calculations, performance. Whereas, the Variable Consideration Analyzer module can further help companies analyze historical data using different stratification options, to produce results from various data populations. After getting an insight of the data, the Revenue Forecasting module can deliver a full-suite of operational reports for the revenue teams to properly close the financial period at hand.