The mandated Revenue Recognition changes are coming and the time to get ready is now.
As the leader in revenue accounting, SAP conducted a multi-year development effort that has been tightly aligned with the FASB and IASB resulting in SAP Revenue Accounting and Reporting (RAR). It has been designed from the ground up to provide clients with a solution that is ASC 606 and IFRS 15 compliant and provides the single most flexible and feature rich solution in the market today.
The most recent release, SAP RAR 1.2 is designed to specifically address requirements derived from the new accounting standards particularly in the areas of costs, contract management, and data transition across various accounting principles.
If you want to know more about SAP RAR 1.2, here are two excellent new blog posts from Pete Graham, Director Finance Solutions and Mobility at SAP.