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Revenue Management
Revenue Management involves the entire revenue cycle in the Enterprise including maintenance revenue flows, revenue reporting and analysis, revenue allocation and recognition, contract management and billing.
The goal of Revenue Management is to improve cash flows by improving key revenue impacting processes, reports and systems interfaces. Solutions are not always found in ERP systems which tend to focus on expense-related processes rather than the end-to-end quote-to-cash processes.
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The Bardess Approach—Revenue Management:
Bardess consultants will identify the most effective and least costly solution to revenue shortfalls whether it is an improved revenue process, systems interface or data flow. We will develop an approach to help you recover your revenue lost in poor data quality or inefficient processes.
Bardess can assist your organization to identify and create effective solutions to resolve Revenue Management issues. We will determine the best way to replace disparate spreadsheets, redundant data entry, weak reporting and other manual legacy processes to more effectively track and manage revenue streams to and from customers and suppliers. We can assist in “closing the loop” between critical business processes and functions across the Enterprise and create visible audit trails for Revenue flows.
Increases in government regulations (FASB, SEC, Sarbanes-Oxley Act), the economy and the disappointments of massive ERP solutions have led companies to focus on managing the flow of revenues as a way to improve the bottom line. In many corporations, the financial processes do not match to IT solutions resulting in inefficient work-arounds using spreadsheets and manual tools. Moreover, poor revenue management processes negatively impact companies in several ways:
Poor Revenue Management Processes |
Impacts to Companies |
- Missed Billing Due Dates
- Elapsed Maintenance Contracts
- Poor Customer Installed Base Management
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- Inaccurate Revenue Reporting (Misstatement of Revenues)
- Decreased Cash Flow-(Missed Billing)
- Inefficient Manual Work around Processes
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Offerings
- Contract and Renewal Management
- Installed Base Management
- Billing and Pricing Requirements
- Revenue Reporting
- Backlog Tracking
- Order Mgmt Tracking
- Revenue Recovery
- Tracking Tool Development
- Revenue Allocation and Recognition Analyses
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