Eric Park, Director of NetSuite ServicesStaying on top of revenue recognition is a tall order for many global organizations in the wake of changing revenue recognition standards such as the latest EITF 08-01 and ASC 606 regulations on Revenue from Contracts with Customers. Finance teams that have to rely on complex spreadsheets for revenue calculations often end up with results that sap their productivity, limit visibility, and introduce risks of error and non-compliance. Assisting organizations in this challenging transition is Atlanta, GA-based ABACI leveraging its valued partnership with NetSuite. A premier NetSuite solution provider, ABACI is scripting the next NetSuite success story for organizations with its deep knowledge of both business process and technology architecture assisting organizations with their revenue recognition requirements. The company harnesses the potential of NetSuite’s Advanced Revenue Management (ARM) module for organizations to simplify the way companies comply with industry guidance and standards on revenue recognition by completely automating the processes.
ABACI has become a key player in assisting organizations having complex as well as unique requirements in recognizing the revenue, especially if there are multiple revenue elements for an organization. “There is a specific way in which revenue needs to be identified for organizations, and that’s where we come in and customize NetSuite to handle revenue in different ways and manage the transition with regards to thechanging revenue standards,” says John Moser, President, ABACI. Harnessing NetSuite’s revenue management solutions, ABACI streamlines the way revenue is recognized and allows users to automate revenue recognition, allocation, reclassification, and forecasting all in a single module.
Befitting its name, ABACI has a proven ability in handling revenue recognition with insights gained from years of experience and expertise in the accounting and finance realm. Through their unique designs, development strategies, and professional execution of cutting-edge NetSuite solutions, ABACI sets the highest standards of excellence in NetSuite offerings. The company’s highly passionate team assures the best level of system expertise on the full suite of NetSuite cloud-based business management applications.
There is a specific way in which revenue needs to be identified for organizations, and that’s where we come in and customize NetSuite to handle revenue in different ways
Adopting a business process approach, the team evaluates the customer’s processes to implement the best solution that suits the organization’s requirements. ABACI’s experts possess the system knowledge to consolidate the process by which companies recognize revenue in multiple ERP systems or accounting solutions. Delivering a single system of input, ABACI enables organizations to have a unified system for reporting functions while minimizing the amount of reconciliation between multiple accounting systems. The team delivers the right solutions for the customers by taking advantage of automation opportunities, business process controls, and better access to information.
As per Eric Park, Director of NetSuite Services at ABACI, with a firm commitment to customer satisfaction, the ABACI team’s customer service oriented approach and their enthusiasm in serving clients remain the key to their success story. “We strive to deliver high-quality solutions to our clients and nurture long-lasting relationships by earning their trust,” adds Park.
Over the years, ABACI has doubled its size and reach and aims to accelerate its growth in the coming years and be an innovative NetSuite provider with incremental solution offerings. ABACI also aims to be a key partner with NetSuite in line with its growth momentum post its acquisition by Oracle. The company is also focused on expanding its reach to the retail distribution and transportation vertical, in addition to the technology and services verticals they currently serve.