Recurly enhances revenue recognition capabilities to help subscription businesses automate complex accounting processes. The acquisition of LeapRev, a global revenue recognition and forecasting solution, will empower subscription businesses to grow recurring revenue while automating complex accounting and reporting standards.
Greater pricing complexity requires automation: The trend toward enabling greater flexibility in pricing models creates a greater need for accounting automation. Now Recurly delivers a next generation revenue recognition management solution for its thousands of high growth subscription brands.
ASC-606 and IFRS-15 compliance: Created by a team of industry veterans, Recurly’s new revenue recognition capabilities enhance the automation and revenue management capabilities of the Recurly platform, streamlining the complex revenue reporting processes associated with subscription contracts, including FASB (ASC 606/340-40/842) and IASB (IFRS 15) guidelines.
Improved financial close and revenue visibility: Recurly customers will also be able to accelerate their financial close, reduce audit risks, and improve revenue visibility and forecasting across a diverse set of monetization models, multiple currencies, and international payment methods. Finance teams will be able to easily account for contract modifications including volume discounts, up-sell, cross-sell, refunds, returns, cancellations, terminations, and price adjustments.
The addition of LeapRev’s solution enables Recurly to offer our customers deeper capabilities in revenue management, meet reporting and compliance requirements, as well as provide enhanced revenue intelligence and predictability for businesses with a complex mix of pricing and usage models.