Out of the numerous industries that have complex revenue recognition requirements, it is pretty safe to say that, in general, technology and software companies are the largest and most affected segments. For these companies, the ability to scale quickly is often a business-critical need.
While the main question may be: “Is there a revenue recognition software solution that is ideal for small to mid-sized businesses?” Perhaps the better question to ask is: “Is there a revenue recognition solution that will scale with our business, supporting the pricing and performance our company needs now and as our organization grows?”
People in technology-related companies often discover that their expected capabilities are set by expectations of upper mid-market or enterprise-sized businesses in their industry. This poses quite a challenge because the transaction volumes and/or budgets that you would expect in the SMB (small and mid-sized business) market do not coincide with the expectations of larger-sized businesses.
One of the key reasons to consider a revenue management solution is to meet the increased challenges and expectations that result from growth. Yesterday, it may have been easy to manage your data in a spreadsheet, but that can quickly become unstable, unwieldy, and unscalable as the company grows.
By Bob Scarborough,