SAN FRANCISCO, CA and PALO ALTO, CA (PRWEB) April 11, 2013
Aria Systems, cloud-based subscription billing experts, and Revstream Inc., the leader in Revenue Lifecycle Management, today announced a partnership to deliver integrated, enterprise-grade revenue recognition for complex subscription commerce models.
A Solution for Recognizing Recurring Revenue
As recurring models evolve, the complexity of managing subscriptions is rapidly increasing as well. Finance and accounting teams are struggling to provide timely and accurate reporting for recurring revenue of offerings that include items such as mid-cycle service upgrades and downgrades, event-triggers, consumption pricing and add-on purchases. By integrating Aria Systems’ SaaS based Subscription Billing Platform with the Revstream Cloud Revenue Recognition Management Platform, the two companies can now offer users a best-in-class SaaS solution that supports the entire revenue recognition process for any monetization model or currency. Integrating these solutions provides a bridge between Aria Systems’ subscription commerce platform and Revstream’s enterprise-grade revenue recognition solution, resulting in accurate reporting that is internally and externally compliant.
The Legacy System Problem for Subscription Commerce
Businesses typically rely on Enterprise Resource Planning (ERP) or General Ledger (GL) systems for managing their financial reporting. However, these solutions were not designed to address the multi-dimensional requirements of a subscription commerce business where products and services are typically consumed over time and so must be accounted for in the same way. The combination of the Aria Systems’ platform and the Revstream Cloud Suite complements the capabilities of critical back-office legacy systems, enabling companies to easily meet U.S. GAAP standards for revenue recognition. This flexibility eliminates the limitations previously imposed by traditional revenue recognition systems.
“Subscription revenue streams are too strategically important for companies to compromise when it comes to managing the closing of their books,” said Rajiv Chopra, CEO of Revstream, Inc. “Together, Revstream and Aria Systems can offer an enterprise-grade billing and revenue recognition solution that provides the functionality that organizations need to maximize their recurring revenues.”
“This partnership between Revstream and Aria Systems offers a clear choice for organizations that want to automate revenue recognition for their subscription businesses,” said Mike Gerardi, vice president of Business Development and Channels, Aria Systems. “Our tightly integrated solution will extend Aria’s current capabilities to also include comprehensive revenue recognition for our customers."
About Aria Systems
Aria Systems delivers the full power of subscription commerce to transform business by creating new revenue opportunities, improving customer relationships and providing more business predictability. The Aria Subscription Billing and Management Platform was chosen by brand name companies such as Pitney Bowes, Experian, AAA NCNU, Red Hat, Ingersoll Rand, EMC, VMware, and HootSuite to evolve their subscription businesses while delivering outstanding customer experiences.
Take a look at the new Recurring Revenue video where Aria’s CEO, Tom Dibble, talks about growing recurring revenue streams, or download the Anatomy of Recurring Revenue whitepaper. Visit http://www.ariasystems.com or call 1.877.755.2370.
About Revstream, Inc.
Named as one of the Inc. 5000 fastest growing private companies in 2011, Revstream Inc. provides advanced revenue lifecycle management solutions for the enterprise and mid-market. The Revstream Enterprise Revenue Lifecycle Management Suite automates and integrates revenue recognition and fair value management for customers in high-tech, digital/social media, SaaS and gaming and entertainment— processing over $30 billion in revenues annually. VMware, Activision, Facebook, Twitter, Mylife, Good Technology and Verint Systems are some of the customers that trust Revstream to analyze, process and report their global revenues.
Learn more about Revstream Cloud in the white paper by Jeff Kaplan from Think Strategies and the recent presentation on “Making Sense of Cloud Revenue Recognition”. Visit http://www.revstreamone.com or call 1.888.REV.0206.