Simplifying revenue recognition for companies with subscription and recurring revenue models
At Recurly, we know how to simplify the complex–we’ve been helping merchants scale while streamlining recurring revenue and subscription billing for over a decade. And now, we’re bringing that same focus to revenue recognition automation. We’re thrilled to announce the acquisition of LeapRev, a global revenue recognition and forecasting solution. What does it mean for your business?
Enhanced Recurly revenue recognition
By bringing LeapRev’s technology and its top-notch team of engineers and consultants into the Recurly fold, we’ll be able to offer our customers a robust, fully configurable revenue recognition and forecasting solution.
The trend toward enabling greater flexibility in pricing models (consumption, usage, tiered, ramp, etc.) creates a greater need for accounting automation. Recurly revenue recognition provides a best-in-class solution for revenue recognition automation. We’re expanding our platform’s capabilities in this way because we hear from you, our customers, that you need tools to help automate the complexities of revenue recognition.
The acquisition of LeapRev enhances the existing revenue recognition capabilities of the Recurly platform, streamlining the complex revenue reporting processes associated with your subscription contracts and automating compliance with ASC 606 and IFRS 15 guidelines.
Lower costs and streamline tech stack
With the acquisition, we’re creating a single-source solution for subscription management, recurring billing, and revenue management. By streamlining your tech stack and eliminating manual calculations, you can lower the cost of compliance with numerous accounting standards and better connect your billing and revenue management processes.
Improve revenue visibility, reporting accuracy, and predictability
Recurly revenue recognition provides real-time, multi-dimensional revenue insights, reporting, and forecasting. No more siloed revenue data that shadows visibility and hampers your ability to forecast monthly recurring revenue.
Accelerate your financial close
Closing the books each month takes time, and the single biggest reason for an extended close is the lack of access to real-time data. By providing end-to-end revenue automation, Recurly revenue recognition delivers the real-time revenue metrics you need to speed your financial close.
Reduce compliance risk
Designed, built, and maintained by experts in the revenue recognition field, Recurly revenue recognition will help your enterprise reduce audit risk and confidently comply with ASC 606 and IFRS 15 by automating revenue recognition workflows that meet the defined five-step models.
Support changing business requirements
The solution is flexible and fully configurable to support your unique business requirements, allowing you to streamline revenue management across a diverse set of monetization and pricing models and easily account for contract modifications, including volume discounts, up-sell, cross-sell, refunds, returns, cancellations, terminations, and price adjustments. Rather than performing manual calculations across multiple data sources, you can focus on driving growth at scale.
Remove barriers to scale
Growth often brings complexity. As you scale your subscription business and try out different revenue models, it becomes more complicated to ensure compliance with revenue recognition rules. With this acquisition, Recurly is taking aim at that complexity, making it our mission to provide enterprise organizations like yours with an end-to-end subscription management, recurring billing, and revenue recognition solution. Read more about the acquisition here, or talk to a Recurly rep here.