Jitterbit Webinar Reveals Digital Strategies for Achieving Compliance with ASC 606/IFRS 15 Revenue Recognition Standard
Digital Identity Management Company ForgeRock Shares Its Success Story
Jitterbit, the API transformation company, will be hosting a webinar on Tuesday, August 7, that exposes the many impacts of the new regulatory standard for revenue recognition, ASC 606/IFRS 15, and how the Jitterbit Harmony enterprise iPaaS (EiPaaS) solution can help companies navigate their financial compliance requirements. Revenue recognition processes have historically been inconsistent across companies and industries. This webinar will detail specific ways to connect finance and accounting data so that companies can manage their revenue and valuation dynamically, compensate their sales personnel based on the new revenue standard, seek additional funding, or prepare to go public.
The webinar, “How to Comply with ASC 606 Using Jitterbit,” will feature a presentation from the digital identity management company ForgeRock, describing how they leveraged Jitterbit’s API Integration solution to manage their sales invoices and orders, and achieve overall compliance under the new rules.
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ASC 606/IFRS 15, a joint revenue recognition standard issued by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), goes into effect in December 2018 for private companies, while public companies needed to comply by December 2017. This new regulatory standard will have a considerable impact on internal business teams, and could result in material weaknesses for companies and lead to stiff penalties for violations.
Recognizing revenue brings many different factors into play throughout the lifecycle of the sale – subscription models (monthly fees vs. up-front costs), product and service bundling, termination fees, rebates, warranties, shipping, etc. This webinar will detail how Jitterbit’s enterprise iPaaS can help companies achieve compliance.
Jitterbit, the API transformation company, makes it quicker and easier for businesses to exploit data from any source, empowering them to rapidly innovate and make faster, more effective decisions. The Jitterbit API integration platform enables companies to quickly connect SaaS, on-premises, and cloud applications and instantly infuse intelligence into any business process.
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