In revenue accounting parlance, Telestream sells Software, Hardware, Hardware with embedded Software, Support and Services.
SOP 97-2, EITF 09-3, SAB 104
Revenue Edge will help us scale without adding any resources. None of the Accounting systems I have seen have revenue automation capabilities that come even close to what Revenue Edge has to offer for Revenue recognition automation.
RE was configured perfectly for our Microsoft Dynamics accounting system requirements and no manual adjustments are needed for our financial close. Given what we have seen with Revenue Edge processing and reporting capabilities, we expect to report and reconcile Revenue & Deferred Revenue within 1 day of month end billing close. We expect significant productivity gains and we will be able to review revenue transactions on a real time basis. This will allow us to more effectively manage VSOE as well as oversee deal structure to maximize revenue.
All legacy and backlog orders were migrated to Revenue Edge to process a 100% of open revenue transactions from the system starting Day 1 of go live. Revenue Edge created various data reconciliation reports, specific to Telestream’s processes to completely eliminate processing data outside of the system.
With Revenue Edge, all of Telestream’s revenue transactions are automatically allocated under the relative selling price method or the residual method as appropriate.
Revenue Edge beat expectation on all aspects of implementation. I highly recommend the solution to any Company looking to move away from spreadsheets for revenue, as the system seems capable of handling any revenue model and works with any accounting system.
-Mark Cuny, CFO – Telestream