As many of you have heard by now, the new Revenue Recognition Standard will go into effect in 2017 for public companies and 2018 for private companies. When this happens, companies in various industries will have to alter the way they recognize revenue. In recent months, there has been so much talk about the new revenue recognition standard and what changes it will bring with it that many readers are probably experiencing a bit of “news fatigue” around this hot issue.
In the very brief video below, Silicon Valley-based revenue recognition expert Jeffrey Werner will discuss exactly what these changes will mean for affected companies, as well as the two possible methods for adopting the new standard. So here’s your chance to catch up – or get informed – in just a few minutes!
Affected companies will want to keep in mind that - although 2017 may seem like some time away - it is important to start preparing for these changes now. Tensoft Revenue Recognition Management (RRM)and Tensoft Contract Billing Management (CBM) offer unique and customizable tools to help you do that. These Tensoft solutions automate your revenue recognition processes and will be there to help when it comes time to adopting the new standard. If you are interested in learning more about Tensoft CBM or RRM for Microsoft Dynamics, pleases visit Tensoft’s website at www.tensoft.com or contact me directly.
By Caprice Murary, Principal at Tensoft, a Silicon Valley-based Microsoft Dynamics Re-seller and Cloud Application Developer
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