The team behind CR2 experienced first hand the pain of implementing new internal control structures to comply with Sarbanes-Oxley. That’s why we brought to market the most powerful cloud-based GRC software available – Ignite Internal Controls. The issuance of ASC 606 and IFRS 15 presents equally strong implications for companies and how they recognize revenue. Of those companies that will be impacted by the new standards, many, if not most, are not prepared. The one-year reprieve was obviously a welcome relief. But it only changed the timing of when companies must ‘jump through the hoops’ to comply.
Every step of the Five Step Revenue Recognition Model can be made easier with CR2. And CR2 was born in the cloud. So as you adopt the new standard, CR2 is immediately available to anyone in your organization, all over the world.
We are committed to a robust feature roadmap for CR2 and actively solicit ideas from the user community.