RightRev

About RightRev

RightRev offers automated revenue recognition software that ensures compliance with ASC 606 and IFRS 15 by managing complex revenue contracts and transactions in real-time. The platform reduces manual tasks, minimizes audit risks, and provides accurate financial reporting, enabling accounting teams to focus on strategic analysis and decision-making.

```xml <problem> Many companies struggle with the complexities of revenue recognition, especially when dealing with evolving revenue models and the need to comply with ASC 606 and IFRS 15 standards. Manual processes and disparate systems lead to errors, increased audit risks, and a lack of real-time visibility into financial performance. </problem> <solution> RightRev offers a comprehensive, automated revenue recognition platform designed to streamline complex revenue accounting processes and ensure compliance. The platform automates the entire revenue recognition lifecycle, from contract creation to journal entry posting, reducing manual effort and improving accuracy. By providing real-time insights and configurable revenue rules, RightRev enables accounting teams to confidently manage diverse revenue streams, adapt to changing business needs, and maintain audit-ready financials. RightRev integrates with existing ERP and CRM systems, such as Salesforce, to provide a unified view of the revenue landscape and eliminate data silos. </solution> <features> - Configurable revenue rules engine to handle various revenue models, including subscription, consumption, and usage-based pricing - Automated standalone selling price (SSP) calculations and allocation across bundled contracts - Event-based revenue recognition triggered by milestones, delivery, or other custom events - Automated handling of contract modifications and recalculation of revenue - Comprehensive revenue reporting and waterfall analysis with pre-built dashboards and metrics - Seamless integration with ERP systems for automated journal entry posting - Native application for Salesforce, providing a unified view of bookings, billings, and revenue - High-volume transaction processing capabilities, proven to handle nearly a billion transactions rapidly </features> <target_audience> RightRev is designed for accounting teams, CFOs, and controllers at scaling companies who need to automate revenue recognition, ensure compliance with ASC 606 and IFRS 15, and gain real-time visibility into their revenue streams. </target_audience> ```

What does RightRev do?

RightRev offers automated revenue recognition software that ensures compliance with ASC 606 and IFRS 15 by managing complex revenue contracts and transactions in real-time. The platform reduces manual tasks, minimizes audit risks, and provides accurate financial reporting, enabling accounting teams to focus on strategic analysis and decision-making.

Where is RightRev located?

RightRev is based in Santa Clara, Cuba.

When was RightRev founded?

RightRev was founded in 2020.

How much funding has RightRev raised?

RightRev has raised $13.0M.

Location
Santa Clara, Cuba
Founded
2020
Funding
$13.0M
Employees
41 employees
Investors
Innovius CapitalIdeafund Partners

RightRev

10
Relative Traction Score based on online presence metrics compared to companies in the same age group.

Executive Summary

RightRev offers automated revenue recognition software that ensures compliance with ASC 606 and IFRS 15 by managing complex revenue contracts and transactions in real-time. The platform reduces manual tasks, minimizes audit risks, and provides accurate financial reporting, enabling accounting teams to focus on strategic analysis and decision-making.

rightrev.com3K+
Founded 2020 – Santa Clara, Cuba

Funding

No specific funding rounds found.

Total Funding

$13.0M

Backed by

Cheyenne VenturesIdeafund PartnersInnovius Capital

Team (40+)

Justin Moore

Founding Partner

Company Description

Problem

Many companies struggle with the complexities of revenue recognition, especially when dealing with evolving revenue models and the need to comply with ASC 606 and IFRS 15 standards. Manual processes and disparate systems lead to errors, increased audit risks, and a lack of real-time visibility into financial performance.

Solution

RightRev offers a comprehensive, automated revenue recognition platform designed to streamline complex revenue accounting processes and ensure compliance. The platform automates the entire revenue recognition lifecycle, from contract creation to journal entry posting, reducing manual effort and improving accuracy. By providing real-time insights and configurable revenue rules, RightRev enables accounting teams to confidently manage diverse revenue streams, adapt to changing business needs, and maintain audit-ready financials. RightRev integrates with existing ERP and CRM systems, such as Salesforce, to provide a unified view of the revenue landscape and eliminate data silos.

Features

Configurable revenue rules engine to handle various revenue models, including subscription, consumption, and usage-based pricing

Automated standalone selling price (SSP) calculations and allocation across bundled contracts

Event-based revenue recognition triggered by milestones, delivery, or other custom events

Automated handling of contract modifications and recalculation of revenue

Comprehensive revenue reporting and waterfall analysis with pre-built dashboards and metrics

Seamless integration with ERP systems for automated journal entry posting

Native application for Salesforce, providing a unified view of bookings, billings, and revenue

High-volume transaction processing capabilities, proven to handle nearly a billion transactions rapidly

Target Audience

RightRev is designed for accounting teams, CFOs, and controllers at scaling companies who need to automate revenue recognition, ensure compliance with ASC 606 and IFRS 15, and gain real-time visibility into their revenue streams.

Sources:

1
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