Earlier this year Zuora acquired revenue recognition software vendor Leeyo. Zuora, which initially focused on taming the complexities of subscription billing, has been broadening its software offerings to handle a wider set of the operational and financial requirements of a subscription business. Leeyo held a Revenue Recognition Summit in 2016 and the event was recently repeated. The need for the Summit reflects the impact new standards for accounting for contracts will have on subscription businesses. Compliance with these standards is proving to be a major challenge for companies that have subscription or recurring-revenue business models.
Back-office operations in commercial and investment banks are among those critical functions that are underappreciated until they stop working well. This includes transaction reconciliations and the related exceptions management. Reconciliations are necessary to achieve a reasonable assurance of complete and accurate record of trading activity. The process is especially challenging now, partly because of today’s high and growing volumes in the wide range of asset classes in which all larger financial institutions trade. Reconciliation is a necessary accounting function that has to be completed before external financial statements can be published.
Topics: GRC, Office of Finance, Operational Performance Management (OPM), Financial Governance, Reconciliation, Sungard, Analytics, Business Analytics, Business Intelligence, Business Performance Management (BPM), CFO, Financial Performance Management (FPM), Information Management (IM), Corporate Governance, Governance Risk and Compliance
When the term “governance, risk and compliance” (GRC) was introduced almost 10 years ago, software for this purpose was not a real category but a loose grouping of disparate applications that had something to do with meeting the requirements of the recently passed Sarbanes-Oxley Act. (You can find my perspective on the GRC category from a couple of years ago here. Now, with the release 10.0 of SAP BusinessObjects GRC, SAP is taking another step toward making the software category a real, comprehensive one that addresses the business and IT requirements of risk and compliance management efforts. This is the first platform that enables companies to efficiently provision risk and compliance management at an elemental level (for example, to manage individual access controls and process controls) and – over time – to gain effectiveness benefits from having the ability to comprehensively manage compliance and risk.
Topics: SAP, GRC, Office of Finance, Operational Performance Management (OPM), Analytics, Business Intelligence, Business Performance Management (BPM), CFO, Financial Performance Management (FPM), Information Management (IM), IT Performance Management (ITPM), Corporate Governance, Governance Risk and Compliance