Recurly Revenue Recognition: Simple, automated & accurate
Recognizing recurring revenue in subscriptions continues to become more complex and regulated. The trend toward diverse monetization and pricing models creates a greater need for accounting automation. And Recurly can help.
If revenue recognition automation is of your top priorities this year, watch this 30-minute demo with Recurly’s VP of Product, Aswin Kurella, and VP of Product Marketing, David Krauss, where you can learn how to:
Automate revenue recognition and complex contract modification rules
Stay compliant with ASC 606, IFRS 15 & ASC 340-40
Determining Standalone Selling Prices (SSP) based on historical data
Streamline revenue reporting and forecasting
Get granular, real-time revenue insights
Subscription trends & revenue recognition impact
Many subscription businesses seek new ways to attract new consumers while expanding their subscriber base. Our State of Subscriptions report shares insights from over 2,200 global brands and reveals that in 2022:
Consumers redeemed over 19M coupons
33.3% of businesses (with >100M+ in total payment volume) offered 3+ currencies
Companies adjusted 40% of plans throughout the year
Personalization is key to acquisition and retention, from promotions to flexible plans and local currencies. However, these offers need to be accounted for, and there’s a downstream impact when you think about revenue recognition.
Revenue recognition challenges in subscriptions
Unlike traditional businesses, subscription-based companies face unique challenges when it comes to recognizing revenue.
More complex product bundles: The need to combine performance obligations across different types of billing models. Read more on revenue recognition in subscription bundles and discounts.
Contract modifications: Accounting for plan upgrades and downgrades, adjustments in contract lengths, and pricing modifications. Learn more in our blog about contract modifications and incremental expenses.
Variable considerations: Considering discounts, royalties, bonuses, and free trials.
Account for deferred revenue and contract liabilities.
Global expansion: Challenges around managing multiple books, currencies, and standards like ASC-606 and IFRS-15.
Beyond revenue compliance
Once you’ve automated, there are incremental benefits to finance transformation–more agile, efficient accounting. Additionally, unlocking forecasting insights and proactively manage the impact of new pricing strategies or unbooked contracts.
See Recurly in action! Watch the on-demand demo on how to navigate subscription revenue recognition to discover the easiest way to automate and streamline your accounting and finance processes.