What Does Novadek Technologies Do?
If your company is a mid-sized technology firm, and you think you may have some revenue recognition issues, you're in the right place! Whether you want to optimize your current revenue recognition processes, prevent revenue recognition issues in the future, or troubleshoot and resolve issues that have already occurred, Novadek Technologies can help.
You probably have a lot of questions such as: "How do I implement systems and processes to consistently and accurately recognize revenue?" and "Will I need to hire an army of revenue accountants?" We want to make sure that you get answers. To get started, please view the video on the right and then read on.
How Can Novadek Technologies Help Me?
You may be the CFO, Controller, Accounting Manager, Revenue Accountant or some other accounting role for your mid-sized technology company. Whatever your role, you know how difficult it is to keep up with the changing standards for revenue recognition and to manage revenue on spreadsheets.
Novadek Technologies delivers tools and services that optimize your efforts, creating streamlined processes and built-in rules that will upgrade your accounting department and allow your company to grow and thrive. Click the video on the right to see how Novadek improved Tina's life!Read On
Who are Novadek’s Customers?
Novadek's customers are mid-sized technology companies who are looking for a solution that fits their budget and will work with both their existing accounting and CRM solutions and with any solutions that they may choose to migrate to in the future. They don't want to be constrained to a particular vendor.
They know there ought to be a better solution for their revenue management processes, but they need to minimize risk and can't afford to bet on an expensive enterprise application. That's why Novadek's Revenue Lens solution fits their needs so well. View Jane's story in the video here to see how Revenue Lens helps.
What Does Revenue Lens Do?
Revenue Lens® is a SaaS solution that helps mid-sized technology companies handle the complexities associated with revenue recognition, contract billing and transaction price allocation. For mid-sized companies, the best news is that you don't have to be a revenue recognition expert to use it. Revenue Lens makes it easy for your accounting department to improve its processes, and to shed light where darkness reigned.
Revenue Lens starts with a stand-alone foundation that integrates with any accounting/ERP system. Revenue recognition goes on top of that, ensuring revenue accuracy, audit support and more. Revenue Lens' contract billing layer stops revenue leakage and streamlines contract transactions. Finally, transaction price allocation management ensures accurate valuation or assets and proper reporting of net income. Read on for what you ought to expect from a revenue recognition solution.
What Should a Revenue Recognition Solution Do?
Well, for starters, a revenue recognition solution ought to provide a systematic approach for processing transactions faster. That's a given. A revenue recognition solution should also reduce - if not eliminate - your reliance on spreadsheets for revenue recognition. It should also significantly reduce your audit fees, by making your audits easier and quicker. It should also decrease the time spent on your revenue close, increase your financial statement accuracy, and eliminate the need to hire an army of revenue accountants.
Above all, your revenue recognition solution ought to integrate with your accounting/ERP system, so that you don't have to "throw out the baby with the bath water" now, or be limited to the same system in the future. For more insight, please view the video here.