Recurly
Automate subscription billing and revenue recognition effortlessly.
What is Recurly?
Try RecurlyRecurly Revenue Recognition helps subscription businesses automate global revenue reporting and forecasting across complex, regulated accounting standards. It supports ASC 606 and IFRS 15 (including related requirements like ASC 842 and ASC 340-40) with end-to-end automation for contract modifications, variable considerations, and diverse monetization models. The platform is built to streamline the revenue close process and improve forecast accuracy with real-time, multi-dimensional revenue insights.
What does Recurly Revenue Recognition do?
Recurly Revenue Recognition streamlines and automates compliance for recurring revenue by handling global revenue reporting and forecasting. It automates revenue recognition rules and workflows so finance teams can reduce manual effort, lower audit risk, and close faster while staying aligned with standards like ASC 606 and IFRS 15.
Can I use Recurly Revenue Recognition without using Recurly for billing?
Yes. You can purchase Recurly Revenue Recognition as a standalone product without using Recurly for subscription management and billing.
How does Recurly help with ASC 606 and IFRS 15 compliance?
It’s designed to automate revenue recognition workflows according to the five-step process defined by FASB and IASB accounting standards. The solution also supports complex contract scenarios such as contract modifications and one-off events, along with variable considerations like discounts, rebates, and refunds.
What revenue models and scenarios can it support?
Recurly supports multiple revenue models such as consumption, usage, milestone, and percent of completion or delivery. It’s also built to help account for contract changes and commercial events including volume discounts, upsell and cross-sell, refunds and returns, cancellations and terminations, and price adjustments.
How does it help accelerate the monthly revenue close and improve forecasting?
Recurly provides real-time, aggregated revenue insights across subscriptions, recurring billing, and revenue recognition. With an end-to-end view, teams can accelerate the monthly close and improve the accuracy and predictability of forecast monthly recurring revenue and other reporting.
Is Recurly Revenue Recognition easy to implement and customize?
The solution is described as fast to implement and easy to customize, built as an enterprise-grade option purpose-built for high-growth subscription businesses with complex plans and high transaction volumes.