REDWOOD SHORES, Calif., June 12, 2017 /PRNewswire/ -- RevStream Inc., the pioneers of revenue automation software, announces today that Progress Software Corporation, a $400M software company that helps its customers build and deploy applications better and faster, has selected RevStream as its revenue automation solution to enable adoption of the new GAAP revenue requirements under ASC 606.
David Partyka, Sr. Director of Worldwide Revenue Operations at Progress Software said, "As we evaluated ASC 606, we came to the conclusion that we needed to enhance our existing systems. After evaluating various solutions, we chose RevStream because it best automates revenue recognition across multiple business models and will enable us to be more efficient with our audit capabilities while maintaining strict internal controls. Partyka added, "We also saw that implementing RevStream will allow for faster deployment with limited development effort."
RevStream's out-of-the-box capabilities and smart, user-friendly design allows customers to create and configure their own revenue policy without IT dependency and customizations. Rajiv Chopra, CEO and founder of RevStream, comments, "We are really proud to have created a software solution that empowers the finance organization to design and configure revenue policy with such extreme flexibility that customers can adapt to major changes like ASC 606 in a short amount of time."
To learn more about how RevStream can prepare your company for ASC 606 compliance, visit http://www.revstreamone.com/resources/schedule-demo.
RevStream Inc., based in Redwood Shores (San Francisco Bay Area), Calif., is the leader and market innovator in Enterprise Revenue Lifecycle Management. We provide financial organizations with a single, comprehensive and flexible platform for managing risk, making accurate forecasts, and ensuring compliance when accounting for revenues across a wide range of industries and monetization models. RevStream is a 2016 CODiE Award finalist for Best Financial Management Solution. Only RevStream delivers the solutions and domain expertise companies need to fully automate Revenue Recognition Management. Check us out at www.revstreamone.com.
Progress is a global leader in application development, empowering enterprises to build and deploy mission-critical business applications to succeed in an evolving business environment. With offerings spanning web, mobile and data for on-premise and cloud. Progress powers businesses worldwide, promoting success one application at a time. Learn about Progress at www.progress.com or 1-781-280-4000.
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SOURCE RevStream Inc.