Companies with recurring revenue streams are a fundamentally different breed. Rather than putting the product at the center of the world, these businesses realize the path to growth is achieved by putting the customer at the center. But managing these recurring transactions on top of other product offerings such as usage-based services, professional services, and physical goods introduces several layers of complexity in revenue recognition. Ventana Research strongly recommends that businesses with recurring revenue adopt a continuous accounting approach to gain a competitive edge. Continuous accounting not only removes the operational constraints that once limited go-to-market flexibility, but it also streamlines back-office processes, shortens the accounting close close process, improves customer satisfaction, and significantly reduces the risk of human error.
In this whitepaper by Ventana Research, you’ll learn how a continuous accounting approach helps
- Ensure financial data integrity
- Eliminate closing bottlenecks
- Improves reporting and responsiveness
- Enables real-time visibility
- Unleash marketing and sales