Company Research Report on RightRev
Company Overview
Name
RightRev
Mission
To relieve accounting teams of tedious, mind-numbing processes and automate mundane tasks with modern technology so they can be true champions of their organization.
Founding Data
- Founded by: Jagan Reddy
- Jagan Reddy is an experienced leader in the revenue automation space, known as one of the "Godfathers of Revenue Recognition."
Key People
- CEO: Jagan Reddy
- VP, Head of Sales: Matthew Mayer
Headquarters
6770 Stanford Ranch Rd.
#1153 Roseville, CA 95678
Number of Employees
No information is available.
Revenue
No information is available.
Recognition
RightRev is known for its advanced revenue recognition solutions, particularly automating complex financial operations and ensuring compliance with ASC 606 / IFRS 15.
Products
Revenue Recognition Software
Standalone Application
- Description: An API-first model software that automates revenue recognition using predefined rules based upon bookings, billings, or user-defined events.
- Key Features:
- Configurable Revenue Rules: Identifies performance obligations and assigns relevant revenue rules.
- Event-Based Revenue Recognition: Configures unlimited events like product delivery or milestones.
- Standalone Selling Price (SSP) Calculations: Automates SSP calculations and allocation across contracts.
- Contract Modifications: Automatically detects changes and recalculates revenue.
- GAAP Revenue Reporting and Waterfall: Pre-calculated metrics for ad-hoc reporting.
- Journal Entries: Creates daily or periodic journal entries.
- High Volume Transactions: Processes high transaction volumes efficiently.
- Granularity and Visibility: Posts journal entries via APIs to ERPs.
- Revenue Reporting and Insights: Provides detailed real-time revenue insights.
Salesforce Application
- Description: A revenue recognition solution embedded within the Salesforce platform.
- Key Features:
- Real-Time Data on Salesforce: Operates alongside Salesforce for native and integrated revenue recognition.
- Unified Revenue Data: Provides reliable reporting with unified financial data.
- Journal Entries: Integrates with ERPs for posting journal entries.
- Performance Obligations Management: Tracks multiple obligations and applies correct rules.
- Event-Based Recognition: Recognizes revenue for various configurable events.
- Cost Accounting: Recognizes different cost models like Follow Revenue and Event-Based Cost.
Recent Developments
New Products Launched
- No specific new products were mentioned.
New Features Added to Existing Products
- Consumption-Based Revenue Recognition:
- Flexible Pricing Models: Implements various usage-based pricing models, including tiered pricing, pre-paid usage, and pay-as-you-go.
- Tiered Pricing and Minimum Commitment Models: Accommodates complex subscription and consumption models.
New Partnerships
- Nue.io Integration: Integrates with Nue.io for enhanced Quote-to-Revenue capabilities.
- JustOn Integration: Facilitates invoicing, payments, liquidity management, and accounting within Salesforce.
Customer Testimonials
- Alex Amaya (Senior M&A and Strategic Projects Accounting Manager, Epicor): Chose RightRev for complexity handling like allocations, modifications, and SSP Analysis.
- Laura Brodie (VP of Finance, Docebo): Optimized accounting processes by integrating Salesforce Revenue Cloud and RightRev.
- Chris Neidlinger (VP, Controller, Drata): Noted RightRev's commitment to implementation success and responsiveness to unique requirements.
Strategic Initiatives
- Expansion of high-scale revenue processing capabilities to handle nearly a billion transactions.
- Implementation of flexible, no-code revenue rule configurations for agile financial operations.
Note: No revenue information, number of employees, or additional specifics on key people other than CEO and Head of Sales were available in the provided data.