Revenue Recognition Re-imagined

Revenue Recognition Re-imagined

Client Details

Spirent is the leading global provider of testing, assurance, analytics, and security solutions. With 1500+ employees ,1700 customers & 500m+ in revenue, Spirent’s offerings across Networks and Security, Connected Devices and Lifecycle Service Assurance solutions supports their customers’ entire technology life cycle. They are currently the market leaders for verification and delivery of high performance and secure Ethernet networks; virtualization and cloud computing environments; 4G/5G networks, devices and services; and location-based services

Challenges Addressed

Challenges with the accuracy of the revenue recognized, exhaustive efforts involved to collate the actuals as per the agreement and the offline data that was previously not captured created bottlenecks for the customer. With the revenue recognition process based on shipping dates and absence of validations for milestone-based revenues, the Revenue management and forecasting posed immense challenges for effective strategizing and key account planning.

Highlights of Engagement

  • Expedited rollout
  • Improved revenue forecasts accuracy with estimations based on Invoicing
  • Significant reduction in effort and time taken for the revenue estimations
  • Offline Orders’ Revenue data captured to enhance the forecasting capabilities.
  • Incorporation of validation process for milestone-based revenue recognized.