Bramasol, Co-Innovation Partner with SAP develops a Revenue Recognition solution to tackle challenges under new standard

Released on: March 30, 2015, 4:07 pm (EDT)
Industry: Computers

Santa Clara, CA, March 30, 2015 -- /EPR NETWORK/ -- Bramasol, a leading Consulting Service Partner for SAP® Revenue Accounting and Reporting application, collaborates with SAP for assisting companies across every industry to comply with the new five-step accounting process to recognize revenue that has been released by the IASB and FASB. To learn more about how Bramasol can help you be prepared, come meet our highly experienced financial experts in Booth # at SAPPHIRE® NOW, being held from May 5-7, 2015 in Orlando, Florida.

On May 28, 2014, the International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) issued converged guidance on recognizing revenue in contracts with customers. In countries adhering to US GAAP and to IFRS, companies will have to comply with this standard, effective from January 1, 2017.

Bramasol by leveraging their SAP- certified experts and in partnership with SAP has engaged with over a dozen companies in High Tech, Software, and Manufacturing, in SAP Revenue Accounting and Reporting to help guide companies to comply with the upcoming standards. By using SAP Revenue Accounting and Reporting 1.0, Bramasol is working with a several firms to help them develop, prepare and implement a new approach to be ready for the 2017 FASB / GAAP revenue recognition.

With Bramasol Revenue Recognition solution built within standard SAP Revenue Recognition approach, customer can:

Efficiently meet revenue recognition standards

Comply with AICPA, FASB and SEC regulations

Improve finance productivity and reduce the cost and time of calculating, recording and reporting on revenue recognition

Reduce or even eliminate the use of spreadsheets, thereby reducing errors and gaining strong, compliant processes

Improve accuracy by ensuring the proper review, approval and execution of revenue to be recognized

Gain clear visibility and monitoring throughout the recognition process, from summary through detail to Estimated Selling Prices (ESPs) and key variances

Bramasol is also one of the few chosen elite partners supporting the SAP Revenue Accounting Ramp Up program as a Ramp-Up Coach. Pete Graham, Director, Finance Solutions and Mobility at SAP says, “As part of the SAP Ramp-Up program, Bramasol has been a great partner in providing skilled expertise in implementing SAP Revenue Accounting and Reporting for our customers”.

About Bramasol, Inc.
Bramasol delivers business solutions for mid- to large-size companies throughout the western U.S. as an SAP gold channel partner. The company specializes in developing, selling, implementing and supporting SAP software within five core industries: high-tech software; high-tech OEM; discrete manufacturing; telco, wireless, and internet services; and sports and venue management. Product expertise spans solutions including SAP Business Suite, SAP Business All-in-One, SAP BusinessObjects™ Business Intelligence solutions, SAP cloud solutions including SAP Business ByDesign®, the SAP HANA® platform and mobile solutions. With a strong history with SAP and a focus on SAP solutions, Bramasol began as one of SAP's first channel partners in 1996 and continues to drive thought leadership and innovation today in support of the latest SAP technologies. The Bramasol team believes every business has the right to excel. The company offers high-quality consulting and support services to help customers solve their toughest challenges using products from SAP, the world leader in enterprise software and software-related services (by revenue).

Contact-Details: Poorvi Sharma
Marketing Lead
Bramasol, Inc.

+1 (650) 636-8811

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