Aptitude Software Announces New Customer Win
November 07 2016 - 12:45AM
Business Wire
Empowering telecommunication CFOs to address
IFRS 15 & ASC606 regulatory reporting and accounting change
requirements while advancing and modernizing finance
infrastructures
Announcement
Aptitude Software is pleased to announce that Elisa, Finland’s
market-leading mobile operator, has selected the Aptitude Revenue
Recognition Engine.
Aptitude Software is also selected and working with other
prominent telecommunications operators globally, including 3 of the
top 4 US telecoms. Aptitude Software provides revenue recognition
software to run the IFRS 15/ASC606 revenue recognition process,
calculations and accounting for circa 350 million end subscribers.
Recognizing revenue for this volume of customers requires the
generation of billions of accounting events, putting Aptitude
Software in a leading position as an accounting software and change
expert for telecommunications companies.
Key challenges faced by telecommunications operators
CFOs and financial controllers have long been concerned about
the complexity of addressing the new IFRS 15/ASC606 requirement
because of the need to change finance processes, control new levels
of data and re-engineer finance IT systems architectures.
The Aptitude Revenue Recognition Engine is selected because it
is the most packaged and mature product for telecommunications
operators. The product addresses telecom CFO’s requirements with
lowest risk and timescales, makes the least impact to existing
systems and is supported by Aptitude Software’s deep accounting
expertise. The Aptitude Revenue Recognition Engine supports
hundreds of real life telecom revenue recognition scenarios and,
importantly, it has the processing performance required to rapidly
account for very high-volumes of contracts, components and
accounting events.
“We have selected Aptitude Software’s Revenue Recognition Engine
for our IFRS 15 accounting requirements” states Jari Kinnunen, CFO
at Elisa.
“We are proud to be working with Elisa to address IFRS 15 change
requirements,” says Tom Crawford, CEO of Aptitude Software. “Our
product provides operators with deep functionality and processing
performance to address the new IFRS/FASB requirements within the
very short time scales and mitigates the risks and costs for those
affected by IFRS 15.”
About Aptitude Software
Aptitude Software is proud of almost twenty years serving the
CFO by delivering finance integration, accounting engine,
sub-ledger accounting hub, calculation engine and other
hi-performance solutions that are empowering a next generation of
finance architecture at the granular contract and trading
level.
The company brings together finance domain expertise, innovative
software products and laser-sharp focus on the CFO’s needs to solve
problems that our competitors can’t address.
Customers include top telecommunications, banking and insurance
companies across Europe, North America and Asia.
Aptitude Software is a Microgen plc company (LSE:MCGN).
Copyright © Aptitude Software Inc. 2014.Microgen ® Microgen plc.
Aptitude™ Aptitude Software Limited.Aptitude Revenue Recognition
Engine™ Aptitude Software Limited.Aptitude - U.S. and European
Patents Pending and Granted (for more information please refer to
our website: http://www.microgen.com/patentsandtrademarks)
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Aptitude SoftwareFor more information about Aptitude
Software or this press release:Ross E. Chapman,
+44-207-496-8100Head of Marketinginfo@aptitudesoftware.comorFor
more information on the Aptitude Revenue Recognition Engine:Adam
Flowers, +44-207-496-8100European Sales
Manageradam.flowers@aptitudesoftware.comorAlex Curran,
+1-617-273-8289North American Sales
Manageralex.curran@aptitudesoftware.comorAptitude Web LinksHome
page: www.aptitudesoftware.comAptitude Revenue Recognition Engine
product:
https://www.aptitudesoftware.com/product/aptitude-revenue-recognition-engine/
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