Revenue Accounting Challenges Made Simple With RAR & SAP Analytics
Understanding our participation in SAP Hackathon, we are pleased to present the challenges to showcase the solutions of Revenue Recognition through SAP Analytic Cloud Application Design. Through SAP Hackathon, we have aimed to exhibit our content to compete with other SAP partners on same ground. We have chosen RAR Analysis as it is one of the most important model of SAP. SAP Hackathon have provided a platform to explore different functionalities across marketplace.
Using a revenue accounting solution that is integrated with the current operational data for the account analytics gives companies a broader scope of understanding, along with the ability to drill-down and drill-through the results for analysis and disclosure reporting.
As discussed in this blog post, the combination of SAP Revenue Accounting and Reporting (RAR) and SAP Cloud Analytics provides the most modern revenue recognition solution along with the agility and transparency for reporting.
Purpose-designed for compliance with new revenue accounting standards, ASC 606 and IFRS 15, SAP RAR helps customers solve complicated revenue accounting challenges such as;
- 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
SAP Analytic Cloud
In combination with RAR, we have SAP Analytics Cloud where we can create complex dashboards while continuing to benefit from BI, Planning and Predictive capabilities .With the new release of the SAP analytic application, it enables professional designers to use advanced scripting with a rich set of capabilities to create custom, complex applications. Based on user’s expectations, scripting allows the application designer to define the relationship between different elements on the page, to guide users and adjust widget behavior.
Using SAP Analytics with RAR, Bramasol enables the most accurate data analysis of one of the important functional insights that provides us an overview of RAR, which will be advantageous for all customers.
Bramasol provides solutions for Revenue Recognition Disclosure Reporting application, which include highly flexible analytics that provide companies with the specific quantitative information needed to fulfill statutory reporting requirements and are designed to visually surface any set of relevant information needed to support accurate understanding and timely decision making.
The accounting analytics provides the following;
- Bar graphs indicating Recognized Revenue, Posted Revenue, Planned Revenue and Deferred Revenue according to Accounting Principle.
- Aggregations showing Recognized Revenue, Posted Revenue, Planned Revenue and Unscheduled Revenue.
- Charts showing Recognized Revenue according Contract Id.
- Pie charts and analysis combining Accounting principle and company code.
As Bramasol have a wide network of customers from different sectors, we have always provided them with the best solutions to meet their specific requirements. Unlike the primitive reports that have been used previously, we have given our customers a broader view of their data through Analytics. Using customers existing data source, be it in Excel, CSV format or even live data, we are providing them visual graphical representation of their data.
Creation of Application
As we know, SAP Analytics Cloud is highly flexible application designer where we can explore analysis in depth. Bramasol have applied all the new capabilities of SAP Analytics tool.
Using R scripting is always a challenge, but SAP Analytic Cloud have made it a better way to look upon. Providing all the pre-installed packages of R library is something that has changed the look of Analytics into more functional.
In addition to that, we have also provided aggregation at various levels to visualize and analyze overall information on multiple line items.
The main goal of Bramasol is to provide a comprehensive application which highlights the key fields of RAR and focus on revenues on a timeline basis. Data in Excel, CSV file format are tedious at times, through analytic application drill downs on single line item are easy and filters help to make work better. Bramasol always stays updated on the latest technology and this time too, trying on new capabilities of SAP cloud is the aim. Maximum utilization of new designer to help achieve customers go through a smoother data preview of their daily market is what Bramasol provides through Analytic designer.
When we talk about SAP Analytics Cloud; It’s very difficult to find a universal Data Visualization Software solution, but SAP Analytics Cloud is a reliable solution and has impressive implementations to fit into our commercial standards. Plus, the addition of scripting languages has made it more versatile compared to its competitors. Bramasol have done in depth hands-on to provide all the features that the tool has recently added.
One of the best advantages that Bramasol have identified is that SAP Analytics designer is not limited to just a few markets, but it is useful for any company and its SAP models. In the scope of this discussion, we have targeted only RAR customers but after going through SAP Analytics Cloud’s extensive functions, we aim to provide all our customers a wide range of dashboards and analytics tool.
As the name says Analytics Tool, customers now have a comprehensive and highly adaptable solution to get visuals of their market trends, where they stand and where their trends will fluctuate. Keeping in mind all the scenarios that customers may need, Bramasol have created this application to provide a wider view with visual effective graphs.
Bramasol’s deep experience of visualizing and analyzing revenues on SAP Analytics tool, is aimed at planning for future where data will be forecasted on a real-time basis, while making sure all the Data pulling or data sources are from trusted systems which increases data user accuracy. Ultimately at a single glance user will be able to look at market trends with the help of filters.