IFRS 15 REVENUE RECOGNITION ENGINE

The rigorous new IFRS 15 revenue recognition requirements for Telcos and other sectors demand immediate action. Legerity FastPost combines a rules-based accounting platform with an IFRS 15 data model, Sub-ledger, Contract Management, Reporting & Analytics. The platform enables organisations to overcome the complexity, increased data volumes, and process and system changes that will result from IFRS 15. Designed to integrate seamlessly with existing operational systems while complementing existing corporate ledgers (SAP, Oracle, etc) and reporting environments (Hyperion, Business Objects etc).

COMPLEXITY

FastPost helps to manage IFRS 15 complexity. Create and implement rules quickly – whether user-defined or via FastTrack standard templates. Business events are mapped against new IFRS 15 accounting rules, subsequent journal entries are available immediately for corporate GLs (SAP, Oracle etc.). With comprehensive contract management capabilities including Tariffs, Products, Contracts, Performance Obligations and Customers.

Processing

IFRS 15 is driving up data volumes, increasing accounting entries to levels that will break existing systems. FastPost uses cutting-edge in-memory processing, with the latest advancements in data storage technology, to process and report on millions of transactions in minutes. Deployed securely through the Cloud, on-premise, or a hybrid.

REPORTING

With IFRS 15’s increased data granularity and quality, there are new data analysis and reporting opportunities. FastPost allows users to obtain improved profitability, lifetime value and planning analytics. With web-based reporting tools that are comprehensive and flexible – from transaction-based P&L through to general ledger-update, management information, audit and disclosure.