Accurate revenue recognition is more than an endlessly time-consuming monthly achievement for busy finance teams—it's a strategic advantage and the key to sustained business success. 

Improper handling means failed audits, misled customers, and ultimately  leads to finance teams holding the bag for critical business setbacks. Add in a complex subscription model, and it becomes imperative to have a reliable system in place that ensures precision and compliance with global accounting standards like ASC-606 and IFRS-15.

Today, we’re excited to announce that Recurly’s enterprise-grade Revenue Recognition solution is now available to all finance teams, whether they manage subscriptions with us or not.

With a RevRec engine built for brands with high-transaction volumes and complex revenue models, we can help streamline financial close while simplifying revenue reporting and forecasting processes: 

“Recurly Revenue Recognition is the only platform flexible and sophisticated enough to automate all aspects of ASC 606 requirements. This automated process provides our revenue accounting team with tremendous flexibility to manage all aspects of our revenue reporting and compliance processes,” said Leo Yi, Director of Revenue Recognition at Thryv.

With Recurly, Thryv consolidated revenue data from multiple sources into a single platform, removing manual processes, streamlining their operations, and improving data accuracy.

And you can too.

Why our standalone solution is a game-changer

  • Automate workflows with confidence: Take the guesswork—and spreadsheets—out of the revenue recognition process and close the books faster! Streamline compliance according to the 5-step processes defined by IFRS-15 and ASC-606 global accounting standards. 

  • Audit-ready, every time: Minimize audit risks and costs with a formal revenue recognition process that promotes compliance. Automating revenue recognition saves you needing additional staff and time spent with auditors.

  • Conquer multiple revenue models: Enable revenue operations and accounting to support business requirements for diverse subscriber contracts and plans. Support multiple, complex pricing models, including consumption, usage, milestone, and percent of completion and/or delivery.

  • Forecast with authority: Forecast monthly recurring revenue with greater accuracy and predictability with a single, aggregated view across subscriptions, recurring billing, and revenue recognition. 

The risks of inaccurate revenue recognition

Improper revenue recognition can lead to skewed financial statements that misrepresent your company’s financial performance:

  • Misstated financials: Misleading customers and investors by appearing more profitable in the short term.

  • Restatements and penalties: Regulatory bodies will impose fines that mean you’ll need to restate earnings, eroding trust.

  • Operational impact: Overspend based on inflated perceived profitability and enter in damning cash flow problems.

  • Market impact: Investors lose trust, leading to a decline in stock price and difficulties in securing future investments.

Your turn: Unlock precise and compliant revenue recognition

Recurly supercharges a brand’s overall efficiency and effectiveness by delivering a powerful boost to financial operations. 

With automation and real-time reporting capabilities, Recurly Revenue Recognition simplifies complex subscription models, ensures compliance, and supports growth on a global scale.

Finance teams can integrate our advanced RevRec solution onto existing subscription and accounting systems without disruption, and can enable and disable features as needed. This flexibility and customization means we grow with you as you adapt quickly to ever-evolving market conditions.

Ready to automate compliance and forecast with confidence? Learn more about Recurly’s Revenue Recognition standalone solution.