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Webinar Recording

Mastering the Opportunities and Challenges of IoT and Other Recurring Revenue Business Models

Date: Thursday, January 22, 2015
Time: 2:00 pm - 3:00 pm EST
The rise of recurring revenue business models and the Internet of Things (IoT) is transforming a wide range of industries, creating new opportunities for customer engagement and revenue growth. However, with dramatic regulatory change (ASC 606), and more companies adding software and subscription-based software as service (SaaS) components to their existing product mix, it’s critical for businesses to fully understand both the advantages and back-office impact of these offerings. Much focus has been placed on the billing implications of adopting recurring models, but little emphasis has been given to the revenue recognition impacts – until now.

Join Andrew Dailey, Managing Director at MGI Research, as he discusses:

  • How recurring revenue models have redefined what it means to be a successful company
  • How your company can benefit from the growth of subscription-based products and services and the rise of IoT
  • The importance of agile pricing and monetization in the age of recurring and “as a service” business models

And listen to David Milligan, Director of Solutions and Services with the revenue recognition experts at SOFTRAX, to understand the revenue recognition complexity your organization must be ready to deal with. You’ll learn about:

  • Preparing your infrastructure for SaaS and subscription products
  • Specific revenue recognition challenges, including:
    • managing deferral of COGS
    • complex fair value determination
    • advanced allocation and carve method requirements
  • Potential issues arising from the new ASC 606 and IFRS 15 revenue recognition rules
After attending this event you will be able to:
Identify potential growth opportunities from recurring revenue and IoT offerings
Understand key back-office challenges your company may face in offering subscription-based products and services
Understand how new revenue recognition guidance may impact your accounting process with these offerings

Speakers

Andrew Dailey, Managing Director, MGI Research
Andrew Dailey
Managing Director, MGI Research
Andrew Dailey is a Managing Director of MGI Research, the leading independent research and advisory firm in the billing and monetization market. Mr. Dailey leads the enterprise applications and billing solutions coverage for MGI. He has over twenty years of diversified technology and financial services experience as a software executive, industry analyst (Gartner), and advisor to Fortune 500 companies.. He has holds a Bachelor of Arts degree from Swarthmore College, and has lectured at the University of Chicago Graduate School of Business, UCLA Anderson School of Management, and the Charles University in Prague, among others.
David Milligan, Director of Solutions and Services, SOFTRAX
David Milligan
Director of Solutions and Services, SOFTRAX
David Milligan is a co-founder of SOFTRAX and has more than 25 years of experience working in software and technology companies. At SOFTRAX, Mr. Milligan oversees the implementation of products and works with customers to identify optimal solutions for complex business practices. Mr. Milligan and his teams also support sales activity and prospect needs. Mr. Milligan has provided guidance in a variety of roles during his career, including product strategy, services management, operational management as well as cultivation of customer relationships. Mr. Milligan has a Bachelor of Science from Boston College, and has continued his education at Bentley University, Boston University, and MIT.
Moderated by: Ernie Humphrey, President & CFO, Biz Dimensions, Inc.
Moderated by: Ernie Humphrey
President & CFO, Biz Dimensions, Inc.
Ernie currently serves in the roles of President & CFO for Biz Dimensions, Inc. In this role Ernie develops and executes marketing and business development strategies to teach businesses “the business of doing business”.

Ernie is also the CEO, 360 Thought Leadership Consulting. 360 Thought Leadership Consulting helps companies define and unlock the strategic value of their thought leadership programs.

Previously, Ernie served as the Vice President, Educational Programs for Proformative, and as the Director of Treasury Services and as a Director of the Corporate Treasurers Council for the Association for Financial Professionals. Ernie has a BS and MS in Economics both from Purdue University.

Sponsor

Event Sponsor SOFTRAX
SOFTRAX - SOFTRAX is a leading provider of enterprise revenue management and billing software solutions that fundamentally change the way companies manage, analyze, report, and forecast their revenue. SOFTRAX solutions automate the entire revenue cycle, from revenue recognition, reporting and forecasting, through complex billing and contract renewals. Hundreds of corporations benefit from using SOFTRAX to optimize their revenue, reduce operating expenses, comply with revenue recognition regulations and Sarbanes-Oxley requirements, and gain unprecedented visibility into their business performance.
By filling out this form you will become a member of Proformative, and are subject to Proformative's User Agreement. This webinar is provided to you for free by the sponsor, who may contact you later.

There are no CPE Credits for this Solution Demonstration.