Revenue management is the system of understanding and anticipating customers to increase revenue and make profits. There are many benefits of revenue management including a better ability to predict customer wants and needs.
While technologies and demands are increasing so are the complexities of businesses and options. As a result,we see more complex procedures, processes, contracts, rules and requirements. Making it harder for the finance department to get a clear picture and to recognize revenue.
There is no longer any need for the finance department to struggle with ever consuming and error-prone spreadsheets and other complex and outdated tasks.
In the following paper, Intacct examines the current revenue recognition situation and pinpoints how new-breed technology can help streamline this process. It also discusses the key features and functionality that evaluators should consider when choosing software solutions to automate revenue management.
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