Ensure ASC 606 / IFRS 15 Compliance with Revenue Management Cloud
Accelerate your transition to the new standard with Oracle Revenue Management Cloud. Adhere to the ASC 606 and IFRS 15 core principles; Automate revenue calculations based on the new accounting standard; Audit – Provide complete and accurate access to revenue; Integrate with your existing ERP and third party system.
Contracts and Performance Obligations
Rules-Based Automation: Use rules-based identification and creation of customer contracts and performance obligations
Flexible Configurations: Leverage flexible, user-configurable rules from contract identification to revenue accounting generation
Revenue Allocations
Simplified: Simplify and automate revenue accounting across product bundles
Compliant: Allocate revenue according to published guidance
Satisfaction Schedules
Performance Obligations: Point-in-Time or Over-Time: Book revenue when performance obligation is satisfied, and easily manage complex satisfaction schedules
Independent of Billing: Process revenue independently of billings
Recognition
Liabilities and Assets: Accrue liabilities and assets with respect to performance obligations valued at expected consideration
Income Statement: Recognize revenue on successful transfer to customer at performance obligation revenue values