In revenue accounting parlance, ExpenseWatch sells SaaS/Subscription, Support and Services.
We have been thrilled with what we’ve seen from the product so far and perhaps more importantly, with the tremendous support we’ve received from RE in making sure we are successful at using RE within our business. They have been responsive and extremely capable in supporting our needs. The value proposition promise that RE affords us is tremendous. We are a software subscription business that plans, budgets and prepares financials more diligently than most SMB companies. That said, there are several value propositions that RE appears very capable of addressing for us. One area that has historically been extremely time consuming and prone to errors, is the manual tracking of revenue recognition and deferred revenue schedules. Aside from being time consuming and susceptible to errors, the manual approach has prevented an ability to package this data from different perspectives, Business Type, Product Line, Time Periods, Accounts, Deals (opportunities) etc. With revenue edge, we will leverage the sales opportunity information in SF.com, and the integration to RE, to automate the process of producing deferred revenue schedules and revenue recognition for any period needed, or by any dimension of interest. No more spreadsheets. In addition, it will enable us to confidently produce GAAP Revenue forecasts for future years so that we can be confident in Revenue projections, and associated tax obligations, for cash flow planning. So far, so good RE…keep up the great work.
-Bill Vergantino, CEO