If you’re in accounting or finance, you understand. You know when a company reaches a certain growth point — whether due to increasing sales, acquisition, new lines of business or other means — revenue turns into a monster that needs to be tamed.
Too many companies today labor under the illusion that somehow, some way, manually-managed spreadsheets featuring VLOOKUPS, pivot tables and macros is the only way to account for revenue recognition. But these manual workarounds stand in the way of compliance with revenue guidance, accurate and timely reporting, and the ability to scale your business. There’s a better way.
Let’s dig into the main challenges we see companies face when it comes to revenue recognition — and see how automation can help.