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I am very happy to announce that SAP Revenue Accounting and Reporting (RAR) v1.2 is now officially “Released to Customer” (RTC) as of May 24, 2016 (and GA as of November 25, 2016). The response by our customers and partners has been fantastic!  Over 50 customers and 16 partners joined the Early Adopter Care (EAC) program and have downloaded and installed the SAP RAR 1.2 software.  Please see also the new SAP RAR book for more technical details.

 

S/4HANA Finance & SAP Revenue Accounting and Reporting (RAR) 1.2 combined provides the most modern revenue recognition solution.  SAP RAR has been assisting our customers solve complicated revenue accounting challenges for over 16 months and is available with all releases of SAP S/4HANA Finance and on SAP ERP Financials EhP5 & higher.  It has been built specifically to support customers to enable compliance with the new IFRS 15 / ASC 606 accounting regulations.  These regulations will be widely adopted starting in January 2018, click here to see how much time you have left.

 

New features in this SAP RAR 1.2 release include: cost recognition; capitalized costs integration with SAP Project Systems and SAP Results Analysis; improved contract combination and modification capabilities; integration with SAP CRM service & billing scenarios; plus advanced features for transition to the new IFRS 15 / ASC 606 accounting standards.

 

Customer feedback for SAP Revenue Accounting and Reporting (RAR) has been exceptional during its evolution.  Over one hundred customers have participated in one-day or longer deep-dive revenue recognition feedback sessions.  A world-wide series of revenue recognition summits held with Big 4 partners like EY and PwC and specialty RAR implementation partners like Bramasol allowed interactions with another 150 customers. Continuing this close collaboration with customers and partners on SAP RAR 1.2, 30 customers and partners completed customer acceptance testing for SAP RAR 1.2. Finally with an active SAP Global RAR Users group of over 700 members and a discussion site for IFRS 15 / ASC 606 on the SAP Community Network (SCN), it is easy for our customers and partners to keep up to date on the latest developments.

 

Want to get started? Based on experience with dozens of SAP RAR customers and recommendations from the Big 4 accounting partners, we have found a best practice for adopting IFRS 15 / ASC 606 is to start a pilot with SAP RAR as soon as possible. Existing SAP S/4HANA Finance & SAP ERP Financials customers can find the latest GA RAR version in their software download corner. SAP also offers advisory services to help map customer processes to SAP’s RAR s customers can request SAP RAR 1.2 software at no charge by registering for the Early Adoption Care program.   Customers without SAP Financials can call their SAP account Executive for pricing and hosting options.  Implementation Partners can also nominate themselves for the Early Adoption Care program for testing, training, and demonstration purposes.

 

For more information, see the SAP RAR1.2 feature list below, read about SAP RAR on sap.com and contact Solution Owner: Pete Graham

 

SAP RAR v 1.2 New Feature List Summary:

Integration of CRM Service in revenue accounting

Enhanced cost object account assignments

Integration with cost object controlling

Improvements in contract management

Enhanced capabilities for contract combination

Contract change

Creation of performance obligations from invoices

Enhanced work-list functions

Cost recognition

Capitalized cost of contract acquisition

Improvements in revenue postings

Transition support

 

For a full list of SAP RAR features visit

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