Dynamically adapt to evolving financial regulations.
Revenue recognition is one of the accounting topics most examined by investors and regulators. The new requirements for recognizing revenue and costs from customer contracts that came about with IFRS 15 and ASC 606 have implications across sales, marketing, pricing, and financial strategies. Existing financial systems and ERP solutions cannot easily adapt to these evolving regulations, especially in handling the complexities of deferred revenue, contract changes, and multi-element arrangements.
The Appian Platform gives life sciences organizations a proactive, adaptable approach to manage revenue recognition in accordance with regulations, improving compliance and oversight.