By enforcing strict adherence to business rules, AP automation reduces the risk of B2B fraud.
If you have revenue coming in from even a handful of contracts or subscriptions, however, achieving compliance using legacy tools will be difficult—if not impossible.
Getting audited is a painful revenue management time drain—especially all those hours spent hunting down information that auditors want.
How will your company adopt the new ASC 606 revenue recognition standard will you use a full retrospective approach or modified retrospective approach?
If your business uses subscription- or contract-based billing, the ASC 606 revenue recognition criteria has added chaos to an already overworked finance team.
Learn how revenue recognition software automates ASC 606 compliance.