The traditional accounting relies on revenue recognition and contains country specific laws on the same. The reliance here is more on the time period in which the invoice is raised and revenues recognised in the books of accounts. Now corporates are insisting on the need to ensure that the revenues recognized are indeed the right revenues. This gives rise to the need of CFOs to assure the board and other stakeholders on the revenues that are booked in the statement of accounts.
The revenue assurance process is a great tool in the hands of the CFO to satisfy the internal as well as external stakeholders about the revenues recorded in the books of accounts.
We rely on extensive analytics to review the invoices, price changes, claimed raised by customers and various other parameters which impact the revenue. We undertake review of discount circulars for identifying under invoicing issues. Claims raised by customers are subjected to analysis to identify and eliminate cases of excess claims.