Revenue recognition automation and standardisation

Need: A platform automatically meet new and updated standards.  

Description: Currently using a server-based software, an organisation requires a platform that can automatically update to new standards, without the need for downtime or distribution to standards. Currently, the organisation must update their system for changes manually. For organisations where this is not possible, they often face having to use workarounds which involves manual manipulation outside of the system to obtain the information.

Strategy: Cloud Accounting

Solution: Cloud Accounting is the ideal solution for this organisation as it allows for automatic compliance to new accounting and revenue recognition standards. A Cloud Accounting platform enables organisations to meet standards as and when they are implemented, due to automatic updates that are carried out during out of office hours.

Benefits

• Automatic updates, removing internal down time or issues installing updates
• Automatic update of changes to standards
• Time saving by not having to deal with process manually
• Keeping your software compliant with new and current mandatory standards