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Find the best ASC 606 automation software to streamline revenue recognition and ensure compliance. Explore top solutions tailored for your business needs.
Your business is growing, but are your financial processes keeping up? When you’re focused on scaling, the last thing you need is a bottleneck in your accounting department. Manual revenue recognition can quickly become that bottleneck, holding you back with slow reporting and compliance risks that auditors love to find. To grow profitably, you need systems that can handle increasing complexity without breaking. An ASC 606 automation software is more than a compliance tool—it’s a strategic asset that provides the financial clarity needed for sustainable growth. Let’s explore the solutions that can help you move past operational hurdles and focus on the future.
Before we get into the top tools, let's set the stage. If you're dealing with revenue recognition, you've likely heard the term "ASC 606" thrown around. It sounds technical, but the concept is straightforward, and the right software can make managing it feel almost effortless. ASC 606 automation software is a tool designed to handle the complex accounting rules for revenue, ensuring your books are accurate, compliant, and always ready for an audit. It’s built to interpret and apply the specific guidelines for recognizing revenue from customer contracts, which can get tricky for businesses with high volume, subscriptions, or multi-element arrangements.
Think of it as a smart assistant for your finance team. Instead of spending hours buried in spreadsheets, manually tracking contracts, and trying to figure out when you can actually count your money, this software does the heavy lifting. It connects to your other systems—like your CRM and billing platform—to pull in all the necessary data. From there, it applies the five-step ASC 606 model automatically and gives you a clear picture of your company's financial health in real time. This frees you up to focus on what you do best: making strategic decisions to grow your business.
Let's break it down. ASC 606 is the accounting standard that dictates how and when businesses should recognize revenue from customer contracts. Created by the Financial Accounting Standards Board (FASB), its goal is to make revenue reporting consistent across all industries. Essentially, it provides a universal five-step framework for recording sales, which is crucial for accurate financial statements and maintaining investor confidence. Following this standard isn't just good practice; it's a requirement for ensuring compliance and presenting a true picture of your company's performance. It affects everything from how you structure sales contracts to how you report your earnings.
Manually applying the five steps of ASC 606 can be a huge headache. It often involves messy spreadsheets, scattered data, and a lot of guesswork—all of which can lead to costly errors. This is where automation changes the game. An automated solution takes the manual work and potential for human error out of the equation. It systematically applies the rules to each contract, saving your team countless hours and reducing compliance risks. By automating revenue recognition, you can move past the operational hurdles and make financial decisions with confidence, backed by accurate, real-time data. You can find more insights on financial operations and how to streamline them on our blog.
Choosing the right ASC 606 software feels like a big decision, because it is. This tool will become a core part of your financial operations, so you want to find one that not only solves today’s problems but also grows with you. Think of it as hiring a new, incredibly efficient member of your finance team. As you compare your options, focus on solutions that offer a strong mix of automation, reporting, and flexibility. The goal is to find a platform that simplifies compliance and gives you clear, actionable insights into your revenue streams.
At its core, the software’s main job is to automate revenue recognition. This is especially critical for businesses with complex billing, like subscriptions or multi-part service contracts where payment and delivery happen at different times. The right tool automatically applies ASC 606 rules to your transactions, ensuring revenue is recorded in the correct period without manual calculations in spreadsheets. This core function helps you follow the rules accurately, which is the first step to saving time and reducing errors. Look for a system that can handle your specific contract types and revenue scenarios right out of the box.
You can't make smart business decisions with outdated information. Your ASC 606 software should provide real-time reporting and analytics, giving you an up-to-the-minute view of your financial health. Instead of waiting for month-end closing, you can access dashboards and reports that track key metrics whenever you need them. Look for software that comes with pre-built, customizable reports for things like revenue forecasting, deferred revenue waterfalls, and performance obligation tracking. These data-driven insights help you spot trends, manage cash flow, and plan for the future with confidence.
Your revenue recognition software doesn't operate in a vacuum. It needs to connect smoothly with the other tools you already use, like your CRM, ERP, and accounting software. Strong, pre-built integrations are non-negotiable because they eliminate the need for manual data entry between systems, which is a huge source of errors and wasted time. Before you commit, verify that the software can easily connect to your existing tech stack, whether it's NetSuite, Salesforce, QuickBooks, or something else. This connectivity creates a single source of truth for your financial data, ensuring everyone is working with the same accurate numbers.
Every business has unique processes, and your software should adapt to them—not the other way around. Look for a solution that allows for custom workflows. This means you can set up specific rules and automated steps that match how your business actually operates. For example, you might need a unique process for handling contract modifications or specific performance obligations. A flexible platform lets you configure these rules without needing to write code or rely on expensive custom development. This adaptability ensures the software supports your business model as it evolves.
Facing an audit can be stressful, but the right software makes it much more manageable. A key feature to look for is a detailed and unchangeable audit trail. This means the system logs every single transaction, calculation, and journal entry, showing exactly how revenue was recognized. This transparency is exactly what auditors need to see. It proves that you have a systematic, compliant process in place. Having this built-in compliance support not only prepares you for audits but also gives you peace of mind that your financials are consistently accurate and defensible.
One of the most significant returns on your investment will be the jump in accuracy and efficiency. By automating complex calculations and eliminating manual data entry, you drastically reduce the risk of human error. One study found that automation can reduce manual steps by 60% and cut down on processing time. Think about what your team could accomplish with that time back. They could focus on strategic analysis and growth initiatives instead of getting bogged down in spreadsheets. This efficiency gain leads to more reliable financials and a more productive finance team.
Ultimately, automation translates directly to saving time and money. When your team isn't spending weeks manually closing the books each month, you accelerate your entire financial reporting cycle. Some companies find they can close their books up to 50% faster with the right software. This speed means you get critical financial reports sooner, allowing you to react to market changes faster. The reduction in manual labor and the avoidance of costly compliance mistakes also have a direct impact on your bottom line. You can see how this investment pays for itself by checking out different pricing models and weighing them against your potential savings.
Now that you know what to look for, let’s walk through some of the top ASC 606 automation software solutions on the market. Every business has unique needs, so the right tool for a small subscription startup will be different from what a high-volume enterprise requires. This list covers a range of options, each with its own strengths.
As you review these tools, think about your specific challenges. Are you struggling with manual data entry, complex contract modifications, or integrating data from multiple sources? The key is to find a solution that not only solves your immediate compliance headaches but also supports your long-term growth. Consider factors like your business model, transaction volume, and existing tech stack. The goal is to find a partner that simplifies compliance and gives you the financial clarity you need to make smarter decisions.
HubiFi is designed specifically for high-volume businesses that need to automate revenue recognition without overhauling their entire tech stack. If you’re wrestling with manual spreadsheets or finding that your current systems have IT limitations, HubiFi offers a targeted solution. It focuses on integrating your disparate data sources to ensure compliance and provide real-time analytics. This approach is ideal for companies that need to close their books quickly and accurately, pass audits without stress, and gain deeper visibility into their financial data. The platform’s strength lies in its ability to handle complexity and scale, making it a great fit for businesses on a growth trajectory. You can schedule a demo to see how it works with your specific data.
Younium is built for the modern subscription economy. Its software helps B2B companies that sell subscriptions or services record revenue at the correct time, which is often different from when they receive payment. The platform is designed to manage the entire subscription lifecycle, from sales and billing to financial reporting. If your business model is centered around recurring revenue, Younium provides the specialized tools needed to handle contract changes, renewals, and complex billing schedules while maintaining ASC 606 compliance. It’s a solid choice for businesses looking to streamline their subscription management and revenue recognition processes in one place.
Zuora Revenue is another powerful tool designed to simplify complex revenue rules like ASC 606 and IFRS 15. The software automates the entire revenue recognition process, from identifying performance obligations to posting journal entries. It’s built to handle a high volume of transactions and complex revenue arrangements, such as multi-element contracts with different delivery schedules. Zuora’s platform is known for its robust capabilities in managing the order-to-revenue lifecycle, making it a popular choice for large enterprises. If you need a comprehensive system that can automate revenue management at scale, Zuora Revenue is a leading contender.
NetSuite offers an all-in-one cloud business management solution that includes strong revenue recognition capabilities. As a comprehensive ERP system, it tracks revenue from every sale, project, or subscription within a single platform. This is particularly useful for businesses operating globally, as it can handle transactions across different countries and currencies seamlessly. Because it’s part of a larger suite of business tools, NetSuite is a good option for companies that want to manage their financials, CRM, and ecommerce operations in one integrated system. Its ability to track revenue from diverse streams makes it a versatile choice for complex organizations.
Sage Intacct is a cloud financial management platform that uses automation and AI to streamline accounting processes. Its revenue recognition module is designed to speed up the month-end close by using templates and automating the separation of different performance obligations within a contract. One of its standout features is its use of AI to identify potential errors, helping finance teams maintain accuracy and compliance. Sage Intacct is a great fit for small to mid-sized businesses looking for a sophisticated financial system that can automate complex accounting tasks and provide deep insights into financial performance.
RecVue offers a comprehensive order-to-cash platform that includes robust capabilities for revenue management. The solution automates billing, subscription management, and revenue recognition to ensure compliance with ASC 606. It’s designed to handle complex monetization models, including those that blend subscriptions, usage-based billing, and one-time sales. RecVue’s platform is built to connect seamlessly with your existing CRM and ERP systems, creating a unified process from sales to revenue reporting. This makes it a strong option for businesses looking to overcome revenue recognition challenges tied to sophisticated and evolving business models.
Chargebee is a popular choice for subscription-based businesses, offering a suite of tools to manage the entire recurring revenue lifecycle. Its platform automates revenue recognition specifically for SaaS and other subscription companies, ensuring compliance with ASC 606 while providing detailed insights into revenue trends. Chargebee helps businesses handle proration, credits, and contract modifications with ease, simplifying what can otherwise be a complicated accounting process. If your primary focus is managing and scaling a subscription model, Chargebee provides the specialized tools needed to automate revenue compliance and gain a clear view of your financial health.
Softrax provides a robust revenue recognition solution that simplifies compliance with ASC 606 by offering tools to manage complex revenue scenarios. The platform is highly configurable, allowing it to adapt to a wide range of industries and business models. It excels at handling multi-element arrangements, contract modifications, and fair value allocations. Softrax is designed to automate the entire revenue lifecycle, from contract management to journal entry creation and reporting. For businesses facing common revenue recognition challenges, Softrax offers a flexible and powerful system to ensure accuracy and efficiency in their financial operations.
Okay, you're sold on the benefits of automation. But with so many options out there, how do you pick the one that’s right for you? It’s about finding a tool that fits your business like a glove—not just for today, but for where you’re headed. Let’s walk through the key things to consider so you can make a choice with confidence. Making a thoughtful decision now will save you from headaches and costly changes down the road. Think of it as choosing a long-term financial partner, not just buying a piece of software.
First things first: what does your business actually need? The right software should match how you sell your products or services. If you have a straightforward subscription model, a basic tool might do the trick. But if your pricing is more complex—think usage-based billing, bundled services, or multi-part contracts—you’ll need a more advanced solution that can handle those nuances without manual workarounds. Before you even start looking at demos, map out all your revenue streams. Getting clear on your specific requirements is the most important first step in finding a tool that will genuinely support your financial operations and provide useful insights.
Your new software shouldn't live on an island. To get the full benefit of automation, you need a tool that connects smoothly with the systems you already use every day. A lack of integration creates data silos and forces your team back into manual data entry, which is exactly what you're trying to avoid. Make a list of your essential platforms, like your accounting software, CRM, and ERP. The right ASC 606 software will offer seamless integrations, allowing data to flow freely between systems. This ensures everyone is working with the same accurate, up-to-date information, from your sales team to your finance department.
The software that works for you now should also work for you in three, five, or even ten years. As your business grows, your transaction volume will increase, your contracts might become more complex, and you may introduce new pricing models. A solution that can't scale with you will eventually hold you back, forcing a difficult and expensive migration process later on. Look for a platform that is built to handle more data and complexity over time. Ask potential vendors how their software supports growing businesses. Choosing a scalable solution means you’re investing in a long-term partner for your company’s journey, not just a short-term fix.
The sticker price is rarely the full story. When evaluating your options, it’s important to look beyond the monthly or annual subscription fee to understand the total cost of ownership. Be sure to ask about any one-time setup or implementation costs, fees for training your team, and charges for ongoing customer support. If you need any special customizations, find out what those will cost, too. A transparent pricing model that scales predictably with your business growth is ideal. Get detailed quotes from your top contenders so you can make a true apples-to-apples comparison without any surprise expenses popping up after you’ve signed the contract.
Don't just take the company's word for it—see what current users have to say. Customer reviews and case studies offer an unfiltered look into how the software performs in the real world. Look for feedback on the things that matter most to your team, like the quality of customer support, the software's ease of use, and its overall reliability. Pay attention to reviews from companies that are similar to yours in size and industry, as their experience will be most relevant. After you've done your research, the best way to see if a tool is a good fit is to see it in action. Don't hesitate to schedule a demo to ask specific questions about your business needs.
Switching to a new software solution is a huge step toward streamlining your revenue recognition. But let’s be real—any major change comes with a few potential bumps in the road. Being aware of these common roadblocks is the best way to plan for a smooth transition and get your team to the finish line without any major headaches.
Think of it like a road trip. You wouldn't leave without checking the map for potential construction or detours, right? The same principle applies here. The most common challenges aren't about the software itself, but about how it connects with your existing processes, data, and people. From getting your data to play nicely with the new system to making sure everyone understands the finer points of ASC 606, a little preparation goes a long way. By anticipating these hurdles, you can create a clear plan to address them head-on, ensuring your investment in automation truly pays off. We’ll walk through the five most common challenges you might face and how to think about them proactively.
This is often the first and biggest hurdle. Your company’s financial data probably lives in a few different places—an ERP, a CRM, and maybe a collection of spreadsheets. If you’re still relying on manual spreadsheets, you’re already at risk for errors and spending way too much time on data entry. When you bring in a new tool, it needs to connect seamlessly with these existing systems to pull accurate information. This is where you might run into IT limitations or discover that your current systems don’t communicate well. Before you commit to a solution, map out all your data sources and confirm the new software has the right integrations to connect them all.
ASC 606 requires you to pinpoint each "performance obligation"—a fancy term for a distinct promise in your customer contract. This is critical because it determines when you can actually recognize revenue. The challenge is that this isn't always clear-cut, especially for subscription models or bundled products and services. Misinterpreting these obligations can throw off your historical revenue patterns and lead to major restatements down the line. It’s one of the most common revenue recognition challenges because it requires a deep understanding of both your contracts and the accounting standard itself. Taking the time to get this right from the start is non-negotiable.
Ultimately, the goal of ASC 606 is to present your company's financial performance accurately and consistently. Strong ASC 606 implementation is essential for maintaining investor confidence and, of course, passing audits without a hitch. While automation software provides a clear audit trail and enforces compliance, it isn't a "set it and forget it" solution. Your team still needs to understand the rules and ensure the data going into the system is correct. The software is a powerful tool, but human oversight is what ensures you stay compliant and audit-ready at all times.
When you think about the cost of new software, you’re probably focused on the subscription or license fee. However, the true cost of implementation can include more than just the sticker price. If the rollout is handled poorly, you could face unexpected expenses from project delays, the need for outside consultants, or higher audit fees to fix mistakes. The biggest financial risk is a potential earnings restatement, which can damage investor trust. Planning your implementation carefully helps you avoid these hidden revenue recognition challenges and ensures the long-term value of the software outweighs its initial cost.
The world of accounting isn't static. The guidance around ASC 606 can evolve, and new interpretations or clarifications may arise. This is especially true for industries like software and SaaS, which often face unique revenue recognition challenges. A rigid system that can’t adapt to new rules can quickly become a liability, forcing you to rely on manual workarounds. When choosing a software partner, make sure they are committed to keeping their platform updated with the latest accounting guidance. This ensures your processes remain compliant without requiring you to overhaul your system every time a rule changes.
Switching to a new software solution can feel like a huge undertaking, but it doesn’t have to be overwhelming. The key to a smooth transition is having a clear, step-by-step plan. Think of it as building a strong foundation before you put up the walls. By tackling the rollout in manageable stages, you set your team up for success and ensure you get the most value from your new tool from day one. Here’s a simple plan to guide you through the process.
Before you can automate compliance, you need to fully understand the rules you’re working with. Take some time to get familiar with the five-step model of revenue recognition and how it applies to your specific business. This means going beyond a surface-level check and really grasping the nuances of the standard. A solid understanding of ASC 606 is the bedrock of a successful implementation. When your team knows the why behind the process, they’ll be better equipped to manage the how with the new software, making smarter decisions along the way.
Your customer contracts are the source of truth for revenue recognition. Before you implement any new system, it’s essential to conduct a thorough review of your existing agreements. This process helps you identify all distinct performance obligations—the specific promises you’ve made to your customers—and determine the transaction price for each. This hands-on review gives you a clear picture of the complexities your new software will need to handle. It also highlights any contracts that might need to be updated to align better with ASC 606 guidelines, preventing compliance issues down the road.
The most powerful software is only as effective as the people who use it. Proper training is critical for a smooth rollout and long-term success. Your training sessions should cover more than just which buttons to click. Empower your finance team by teaching them how the software applies ASC 606 principles to your company’s data. When your team understands both the accounting rules and the tool itself, they can manage the new process with confidence. This investment in training pays off by reducing errors and increasing efficiency. If you need expert guidance, you can always schedule a consultation to walk through the process.
Modern finance teams rely on a variety of tools, from CRMs to ERPs. For your new ASC 606 software to work effectively, it needs to communicate seamlessly with your existing tech stack. Connecting your systems ensures that data flows automatically and accurately, eliminating the need for manual data entry and reducing the risk of human error. This creates a single source of truth for your financial data, giving you a complete and real-time view of your revenue. Before choosing a solution, confirm it offers the right integrations to create a unified and efficient workflow across all your platforms.
The ultimate goal of adopting new software is to automate manual work, but you don’t have to automate everything at once. Start by identifying the most time-consuming and error-prone steps in your current revenue recognition process. This often includes identifying contracts, allocating transaction prices, and recognizing revenue as performance obligations are met. By focusing on these key areas first, you can achieve significant efficiency gains right away. As your team gets more comfortable with the new system, you can gradually automate more complex workflows, continuously improving your financial operations and freeing up your team for more strategic work.
You’ve chosen your software and navigated the implementation. That’s a huge step! But the journey doesn’t end there. To truly get your money's worth, you need to actively use your new tool to its full potential. It’s not just about automating old processes; it’s about creating smarter, more efficient ways of working. By focusing on a few key areas, you can transform your revenue recognition from a tedious chore into a strategic advantage. Let's look at how you can leverage your new software to make better decisions, streamline your operations, and keep your business audit-ready at all times.
Your new software is a goldmine of information, and the best part is that it’s available in real time. This means you can stop making financial decisions based on last month's numbers. Real-time data is crucial for understanding your business's health right now, allowing you to reduce risks and spot opportunities as they happen. Whether your revenue comes from subscriptions, one-time sales, or usage-based services, having up-to-the-minute analytics helps you make informed choices. You can use these insights to adjust pricing, forecast revenue more accurately, and confidently steer your company's financial strategy. It’s about shifting from reactive reporting to proactive decision-making.
One of the biggest wins with automation is waving goodbye to messy spreadsheets and scattered data. Automating your revenue recognition process eliminates the guesswork and manual work that can lead to errors. This gives you clearer sales tracking, automated billing, and reliable financial reports. But don't just set it and forget it. Take the time to fine-tune your workflows. Look at where your team is still spending too much time and see how the software can help. By ensuring your new tool integrates smoothly with your other systems, like your CRM and ERP, you create a seamless flow of information that provides a single source of truth for your revenue data.
Let’s be honest, the thought of an audit can be stressful. This is where your ASC 606 software really shines, offering some much-needed peace of mind. By automating compliance, you can trust your revenue numbers and know that you're adhering to the latest financial regulations. This allows you to focus on growing your business without constantly worrying if you're checking all the right boxes. An automated solution simplifies adherence to ASC 606, saving time and reducing costly errors. With a clear, accessible audit trail just a few clicks away, you’ll always be prepared. If you want to see how this works in practice, you can schedule a demo to walk through the process.
The conversation around ASC 606 is shifting. For years, the focus was on achieving compliance. Now, it’s about using automation as a strategic tool to get ahead. As technology becomes more intelligent and integrated, the standards for financial reporting are rising right along with it. Staying current isn’t just about adopting new software; it’s about understanding where the industry is headed and preparing your business for the future of finance. The next wave of automation is less about catching up and more about building a resilient, transparent, and data-driven organization.
The newest ASC 606 automation tools are built to handle the complex ways businesses earn money today—from subscriptions and one-time sales to usage-based services. This flexibility helps you reduce financial risks and save money on accounting tasks. More importantly, these solutions are becoming the central hub of the financial tech stack. The future isn't about standalone software; it's about systems that talk to each other. Look for tools that offer seamless integrations with the platforms you already use, like your ERP and CRM, to create a truly connected and accurate financial picture.
As automation becomes standard, so will a higher bar for financial reporting. ASC 606 was designed to create consistency and transparency, and automation is the key to delivering on that promise. When your reporting is accurate and easy to understand, it builds incredible trust with investors, auditors, and your leadership team. This isn't just about compliance; it's about presenting your company's financial performance with confidence. Getting a clear, automated view of your performance obligations can even change how you understand historical revenue patterns. If you're ready to see how automation can clarify your financial story, you can schedule a demo to explore your options.
Switching to a new software solution can feel like a huge undertaking, but it doesn’t have to be overwhelming. The key is to break the process down into clear, manageable steps. A thoughtful transition plan helps you stay organized, anticipate challenges, and get your team on board. Think of it as your roadmap to a smoother, more accurate revenue recognition process. By focusing on one stage at a time—from planning and data prep to configuration and testing—you can ensure a successful rollout that sets your business up for long-term success.
A successful implementation requires more than just picking a go-live date; it needs a well-defined timeline that accounts for every stage of the project. Start by working backward from your target launch. Allocate specific windows for software selection, data migration, system configuration, team training, and, of course, testing. Be realistic and build in buffer time for unexpected delays. A detailed timeline not only keeps your internal team aligned but also helps you coordinate with your new software provider. For more tips on project planning, you can find helpful insights that cover the strategic side of financial operations.
Before you can move into your new system, you need to make sure your existing financial records are clean and organized. This is the most critical step, as the accuracy of your new software depends entirely on the quality of the data you feed it. Take the time to scrub your records: consolidate spreadsheets, remove duplicate entries, and standardize formatting. Ensure all necessary contract details, like performance obligations and transaction prices, are clearly documented. Starting with a clean slate prevents major headaches down the road and ensures your automated system produces reliable results from day one.
Once your data is prepped, it’s time to set up your new software. The goal is to make sure it connects smoothly with your current accounting, CRM, and payment systems. A seamless setup ensures that data flows automatically between platforms, eliminating manual entry and reducing the risk of errors. Work with your software provider to map out data fields and define the rules for how revenue should be recognized for different types of contracts. Properly configured integrations are the backbone of an effective automation strategy, allowing you to manage the entire revenue lifecycle from a single source of truth.
Never underestimate the importance of thorough testing. Before you go live, run multiple test scenarios to ensure the system handles all your revenue situations correctly—especially the unusual ones. Process a few sample contracts from start to finish, including modifications, renewals, and cancellations. Check that the revenue schedules are generated as expected and that the reports are accurate. This is your chance to catch any configuration errors or process gaps before they impact your live financial data. Once you’re confident in the setup, you’ll be ready to make the final switch.
My business isn't that big yet. Do I really need ASC 606 automation software now? That's a great question, and it's smart to think about timing. While you might be managing with spreadsheets today, the real question is about your growth plans. Implementing a system early, before your transaction volume becomes overwhelming, is far easier than trying to fix messy historical data later. Think of it as building a strong foundation for your house before you add a second story. It prepares you for future growth and ensures your financial processes are scalable from the start.
Will this software replace my accountant or finance team? Not at all. This software is a tool to empower your finance team, not replace them. It automates the tedious, repetitive tasks—like manual calculations and data entry—that are prone to human error. This frees up your skilled professionals to focus on more strategic work, like financial analysis, forecasting, and providing insights that guide business decisions. The software handles the "what," so your team can focus on the "so what" and "what's next."
How long does it actually take to get a new system like this up and running? The timeline can vary depending on the complexity of your business and the cleanliness of your data. A simple implementation might take a few weeks, while a more complex one could take a couple of months. The most time-consuming part is often preparing your data and connecting your existing systems. A good software partner will provide a clear implementation plan and work with you to make the transition as smooth as possible, ensuring you're set up for success from day one.
We have really unique, custom contracts. Can an off-the-shelf software solution actually handle them? This is a common concern for businesses with complex revenue models. The short answer is yes, the right software can. Modern ASC 606 solutions are designed to be highly configurable, not rigid. They allow you to set up custom rules and workflows that match your specific contract structures and performance obligations. The key is to choose a platform built for flexibility, one that can adapt to your business instead of forcing you to adapt to the software.
Is this just for SaaS or subscription companies? While subscription-based businesses were early adopters of this technology, ASC 606 automation is for any company with contracts that have multiple components or where revenue is recognized over time. This includes businesses in professional services, telecommunications, construction, and any industry with multi-element arrangements. If your contracts involve more than a simple one-time payment for a product delivered on the spot, an automated solution can bring clarity and compliance to your financial reporting.
Former Root, EVP of Finance/Data at multiple FinTech startups
Jason Kyle Berwanger: An accomplished two-time entrepreneur, polyglot in finance, data & tech with 15 years of expertise. Builder, practitioner, leader—pioneering multiple ERP implementations and data solutions. Catalyst behind a 6% gross margin improvement with a sub-90-day IPO at Root insurance, powered by his vision & platform. Having held virtually every role from accountant to finance systems to finance exec, he brings a rare and noteworthy perspective in rethinking the finance tooling landscape.
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