Nakisa’s New Solution For Revenue Recognition: A Solution Built For Compliance
Nakisa announces the launch of its new financial solution for revenue recognition, designed as a centralized repository for abstracting, analyzing, and assessing revenue contract data. The new solution enables public and private organizations to gain a 360-degree view of their contract obligations for more efficient compliance with the new accounting regulations.
MONTREAL, Canada – March 17, 2015 – The new IFRS / US GAAP standards for revenue recognition are being considered as the biggest change to the accounting rules in years. For a smooth transition, preparing today is not only recommended by experts, but crucial for successful compliance. With this in mind, Nakisa and SAP have collaborated on a solution, extending SAP’s revenue recognition and accounting capabilities, that provides a centralized repository for abstracting, analyzing, and assessing revenue contract data in a compliant manner.
The new application enables your organization to:
- Assess readiness for the new accounting standards and adopt the right tools for reporting compliance
- Unify all revenue contracts data into a single repository
- Gain visibility into revenue-related data for better strategic planning and cost-efficient decision making
- Obtain required accounting, financial, and audit validations quickly and efficiently
- Modify processes and systems today, to ensure compliance and uninterrupted operations tomorrow.
“We’re proud to expand our Finance solution portfolio to further address the need for regulatory compliance”, said Romeo De Leon, Vice President of Product Management at Nakisa. “This solution will be a game changer for most clients, as it significantly helps them to make smarter business decisions.“
Available on-premise and in the cloud, the new solution is SAP HANA certified and designed to integrate with SAP Simple Finance, as well as your traditional ERP.
A global leader in enterprise business solutions for Human Capital Management (HCM) and Finance, Nakisa delivers innovative, forward-thinking and robust human resource and financial management solutions that advance your business strategies. Available on premise and in the cloud.
Working with a global network of partners and as one of the few Solution Extension (SolEx) partners of SAP® since 2007, Nakisa serves 800+ enterprise customers and over 4 million subscribers in 24 industries. Nakisa is proud to work with some of the world’s most renowned brands. For more info, visit: www.nakisa.com