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We have a strategy, experience and a proven track record in delivering what clients desire!
We have a strategy, experience and a proven track record in delivering what clients desire!
Advanced Revenue Management automates revenue forecasting, allocation, recognition, reclassification, and auditing through a rule-based event handling framework. It is compliant with the ASC 606 revenue standard.
With Advanced Revenue Management you can defer revenue for recognition across future periods according to the rules you configure. It supports fair values based on vendor-specific objective evidence (VSOE), the best estimate of the selling price (ESP), third party evidence (TPE), and other fair value methods your company uses. These fair values are used to determine the revenue allocation ratios for multi-element transactions
Order-to-revenue workflow begins with the sales order or invoice, and specifically includes these transactions: sales order, invoice, cash sale, return authorization, credit memo, and cash refund. If you have been using classic revenue recognition features, order-to-revenue workflows that began before the Advanced Revenue Management feature was enabled continue to use classic revenue recognition.
Any new order-to-revenue workflows created after the feature is enabled will use Advanced Revenue Management. New order-to-revenue workflows include all new sales orders, even those generated from quotes that were created before the Advanced Revenue Management feature was enabled.
When you have recently enabled the Advanced Revenue Management feature, identifying whether transactions later in the order-to-revenue workflow use classic revenue recognition or advanced revenue recognition (ARM) is more complex. You need to know whether ARM was enabled before or after the first transaction in the order-to-revenue workflow.
The Rule-Based Recognition Treatment feature adds flexibility to Advanced Revenue Management. This feature enables you to define recognition attributes for revenue elements based on specified criteria.
The Revenue Recognition/Amortization subtab on the item record contains the default values for the recognition attributes of a revenue element. With Rule-Based Recognition Treatment, you can specify different values for the following recognition attributes. As a result, the same item can have different attribute values in different revenue elements.
Company category | Staff headcount | Turnover | or | Balance sheet total | |
Medium-sized | < 250 | ≤ $ 50 m | ≤ $ 40 m | ||
Small | < 50 | ≤ $ 10 m | ≤ $ 10 m | ||
Micro | < 10 | ≤ $ 2 m | ≤ $ 2 m |