Revenue Recognition Software: Boost Inventory and Contract Management

‘Tis the season for the newest product update from Sage Intacct! From easier, more flexible contract management to improved inventory costing, this release is stuffed with enough goodies to keep both operations and finance full of good cheer. Whether you’re a current user or are considering making the transition, the folks at Sage Intacct have provided a long list of features to celebrate.

Never miss a renewal opportunity

Contract renewals are critical sources of revenue, particularly for software and SaaS companies. With this latest release, you can now sync opportunities and contracts from Salesforce to create renewal contracts in Sage Intacct revenue recognition software. You can also automatically generate opportunities in Salesforce based on Intacct renewal templates and pricing options. Opportunities for contract renewals enable your sales team to effectively manage the renewal process from Salesforce prior to sending the contract to Sage Intacct.

On-hold: Billing and revenue schedules part ways

Billing and revenue managers can now place separate holds on billing and revenue schedules, so they can manage each of them in accordance to specific processing requirements for associated transactions. As a result, you get independent, and therefore more precise, control of billing and recognition transactions.

Revenue Recognition Software:  Get automatic bundling for multiple element arrangement (MEA) contracts 

With MEA contracts, typically all or most of the contract lines in the contract will be included in the same allocation bundle. The latest version of Sage Intacct simplifies the MEA bundling process and adds validations to help reduce errors in complex revenue contracts. You can now set up automatic bundling so that you only have to manage exceptions to the default lines, and added validations ensure revenue and billing schedules match by accounting for every contract line in an allocation process.

An accurate picture of your inventory costs is crucial to managing your profitability.

An easier way to get and keep inventory costs up to date

An accurate picture of your inventory costs is crucial to managing your profitability. Sage Intacct improved automation to reorder transaction documents from purchase to receipt. This recalculates inventory costing to keep inventory valuation, current unit costs, and cost of goods sold (COGS) up to date. And you can determine the schedule for reordering and recalculation, for example, you could schedule reordering and calculation to occur during the night.

Celebrate year-round business success with RKL and Sage Intacct

The experts at RKLcan help you reap the benefits of Sage Intacct every day of the year, giving you greater visibility into performance, automating key processes, and helping you take advantage of every business opportunity. With contract management, inventory, projects, workflow, and so much more, Sage Intacct’s financial management software has everything you need for success. Contact us today to learn more.