Date post: | 23-Jan-2018 |
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Technology |
Upload: | workday |
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Lessons Learned Adopting the New Revenue Standards (ASC 606/IFRS15)
Eric Knachel, Partner, Professional Practice Group – Deloitte & Touche LLP
Rafael Beyer, Sr. Manager, Revenue Recognition – Workday
Tammy Cunha, Sr. Director, Compliance & Reporting, Revenue – JDA Software
Moderated by Compliance Week’s Editor in Chief, Bill Coffin
Sponsored by
Agenda for Today’s Webcast
2:00 p.m. Introduction
Bill Coffin, Editor in Chief, Compliance Week
2:05 p.m. Overview
Speakers:
• Eric Knachel, Partner, Professional Practice Group – Deloitte & Touche LLP
• Rafael Beyer, Sr. Manager, Revenue Recognition – Workday
• Tammy Cunha, Sr. Director, Compliance and Reporting, Revenue – JDA Software
2:35 p.m. Panel Discussion and Q&A
3:00 p.m. Closing
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This webcast will last for 60 minutes
Sponsored by
IntroductionThe Series, Schedule and Instructions
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Instructions
Use the “Ask a Question” function (left side of your screen)
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Sponsored by
Panelists
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Rafael Beyer
Sr. Manager,
Revenue Recognition
Workday
Tammy Cunha
Sr. Director, Compliance & Reporting, Revenue
JDA Software
Eric Knachel
Partner, Professional Practice Group
Deloitte & Touche LLP
Copyright © 2017 Deloitte Development LLC. All rights reserved.
36 USC 220506
• Transition Method
Full Retrospective
Modified Retrospective
• Overall Progress
SAB 74 Disclosures
• On-going challenges
Operational
Technical
ASC 606 Observations and Insights
ASC 606 Observations and Insights
• On-going challenges
Operational
• IT – System Requirements
• Legal – Contractual Terms
• HR – Compensation Arrangements
Technical
• Broad/ General – FASB/TRG
• Industry Specific – AICPA Working Groups
Copyright © 2017 Deloitte Development LLC. All rights reserved.
36 USC 220506
Workday Confidential
ASC 606 Adoption Insights
And Some Insights
Visibility into
Data is Critical
Reporting is Ever
More Important!
Single System
Makes it Easy!
Auditing
Capabilities are Key
Step 2: Compare
impacts
Step 1: Develop
scenarios
Contract 1
Original Contract
Contract 2 Contract 3
Alternate Contracts
Revenue Scenario Modeling
Workday Confidential
Step 3: Dual reporting
Old Standard
New Standard
Rev Rec 3Rev Rec 2Rev Rec 1
Seamless and Agile P&L Planning
Workday Confidential
Existing applications
• Transactions
• Schedule:
Deferred Revenue
Recurring Revenue
Renewal Revenue
Forecast Revenue
is unified with built-in
enterprise process, controls
and auditability.
Transaction Planning
Reporting
Actual Revenue
Copyright © 2016 JDA Software Group, Inc. Confidential
At JDA, we're fearless leaders. We're the
leading provider of end-to-end, integrated retail,
omni-channel and supply chain planning and
execution solutions for more than 4,000
customers worldwide. Our unique solutions
empower our clients to reduce costs, increase
profitability and improve collaboration so they can
deliver on their customer promises every time.
Using JDA, you can plan to deliver.
About JDA Software
Workday Confidential
Since its founding in 1985, JDA has
become the leading provider of end-to-
end supply chain planning and
execution solutions for more than 4,000
customers worldwide, including:
• 73 of the top 100 retailers
• 71 of the top 100 consumer goods
companies
• Another “go live” every 8 hours
$900M
IN REVENUE
4,500
EMPLOYEES
28
CURRENCIES
40
COUNTRIES
Workday Revenue Key Capabilities
Billing and Revenue Recognition
Customer
Accounts and Collections
Contract Management
• Support for multiple revenue streams
• Integration with 3rd party contract-management systems
• Strong amendment controls
• Visibility into the full lifecycle of contracts
• Generate Invoices for various revenue streams – software,
hardware, billable professional services, subscriptions
• Allocate Revenue across multi-element arrangements
• Support for multi-element contracts with fair value amounts
• Support for evolving standards and regulations
• Customer Collections capabilities including collections
workbench, dunning, statements
• Self-Service customer portal for invoice presentment
• Automated payment matching capabilities
• Write-off and Dispute Management
Insights and Analytics
• Comprehensive Customer Profile
• Risk Score for Collections Management
• Extensive Deferred Revenue and Forecast Reporting
• Dashboards with key revenue, payments, and collections
analytics
Workday Confidential
JDA
Various Revenue Streams- Software, Subscription (SAAS/Time and
Usage Based), Cloud, Maintenance, Professional services,
Education and Hardware
Multi Element Arrangements (MEA)
Multi Currency Contracts
– Invoice in 30 countries with over 28 currencies
JDA Billing and Revenue
Workday Confidential
Billing and Revenue
• SalesForce->Apttus->JSIF->Workday
JDA Billing and Revenue
Workday Confidential
JDA New Revenue Recognition StandardHigh Level Timeline
Copyright © 2017 JDA Software Group, Inc. Confidential
You can submit questions using the “Ask a Question” button on the left side of your screen.
Panel Discussion
Speakers
Eric Knachel, Partner, Professional Practice Group – Deloitte & Touche LLP
Rafael Beyer, Sr. Manager, Revenue Recognition – Workday
Tammy Cunha, Sr. Director, Compliance and Reporting, Revenue – JDA Software
Moderator
Bill Coffin, Editor in Chief – Compliance Week
Sponsored by
Thank you for joining us
CPE Credit information
The CPE test will appear in a separate window at the conclusion of the webcast. If you have trouble accessing
the test, please email us at [email protected]. Please note that a passing score of 80% or higher is
needed to receive CPE credit. Be sure to disable your pop-up blockers to access the automatic CPE exam
presented at the conclusion of the webcast.
CPE certificates will be emailed to you separately following completion of the exam.
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