To successfully tackle the complexities of IFRS 15 and ASC 606 and ensure full compliance using SAP RAR, it’s wise to consider forming partnerships with trusted advisors boasting extensive SAP expertise, honed from their collaborations with Big-4 accounting firms. YemPover is here to empower businesses, not only by comprehending these standards but by effectively implementing the necessary changes. We play a pivotal role in helping companies identify customized revenue recognition scenarios, conducting thorough contract reviews, establishing robust internal controls, and facilitating essential system and data adjustments to ensure compliance.
Teaming up with seasoned experts such as YemPover is a strategic advantage for organizations striving for financial excellence and adherence to regulations. In this blog you’ll learn about YemPover’s distinctive business approach to these standards, their expedited implementation processes, and their cost-effective DIS project methodology.
YemPover’s Unique Business Approach:
- Seamless System Integration
- A Vast Network of SAP Consultants
- Proven Project Governance and Templates
- Collaboration with SAP Product Management
- Active Participation in SAP User Groups
- Proven Track Record with Over 10 SAP Go-Lives
- A Robust Team of SAP Experts
Our DIS Project Methodology:
During this initial phase, we define the scope, conduct a Proof of Concept (POC), and create a project plan to chart your path to revenue accounting excellence. The implementation phase encompasses configuring the solution using template-based rules for consistency and efficiency. We load data, create comprehensive configuration documents, execute unit testing, support User Acceptance Testing (UAT), and oversee the go-live phase. Post-implementation, YemPover provides continuous support, resolving user issues and ensuring seamless compliance solution operation. We collaborate closely with your team to facilitate a smooth transition to ongoing maintenance and support.
Overview of Key SAP RAR Reports
- Revenue Breakdown by Contract
- Revenue Categorized by Performance Obligation Type
- Customer-Centric Revenue Distribution
- Revenue Distribution Among Customer Groups
- Breakdown of Revenue Based on Performance Obligations
- Analysis of Financial Documents and Revenue Accounting Contracts
- Reconciliation of Data Between Revenue Accounting and General Ledger