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Brocade Expands Deployment of Leeyo's RevPro Revenue Recognition Automation & Management SuiteFabric Networking Leader Grows Use of RevPro to Speed Revenue Recognition, Increase Accuracy and Simplify Alignment With Increasing Accounting Regulatory Guidance (June 25, 2012)
SANTA CLARA, CA -- (Marketwire) -- 06/25/12 -- Leeyo Software, Inc., a provider of software for revenue recognition automation and management, today announced that Brocade, the leader in fabric networking solutions, has expanded their deployment of Leeyo's RevPro software suite to fulfill the company's rigorous revenue automation and management requirements. Over the last several years, companies with complex sales agreement structures have found themselves faced with the need to understand and comply with increasingly challenging accounting guidance, as well as the need to meet corporate imperatives to recognize and report revenue with increasing speed and unfailing accuracy. RevPro is the most complete revenue recognition software suite on the market, and seamlessly integrates with all major ERP systems.
This expanded implementation gives Brocade access to RevPro's expanded feature set, including touchless revenue allocation, full automation of the "Fair Value" process, and extensive reporting capabilities. The expansion was accomplished in true out-of-the-box fashion. Since completion of the project, Brocade has had greatly increased visibility to the "revenue waterfall" and has achieved a single "source of truth" for revenue data, all while significantly reducing the time required for month-end closing.
"Brocade was Leeyo's first RevPro customer, and remains a perfect example of the kind of organization that can take full advantage of our revenue management products, so of course we're happy to see the relationship continue to grow," said Karthik Ramamoorthy, Vice President, Services for Leeyo. "There's nothing more rewarding than a client that benefits greatly from your products and demonstrates confidence in those products by expanding their use of them."
"Our experience with RevPro has been extremely positive -- my team has become real believers in Leeyo and their products," said Michael Kirtland, Director of Revenue Accounting for Brocade. "RevPro has simplified our month, quarter and year-end processes, saved us time, and allowed us to meet and exceed our internal requirements for both speed and accuracy."
"Our initial conversations with Brocade touched on many of the same needs and concerns we hear from almost all our customers -- they need to close their financial activities sooner, need to keep pace with increasingly burdensome financial guidance, and need to help their company recognize revenue as quickly and accurately as possible," said Jagan Reddy, co-founder and CEO of Leeyo Software, Inc. "No matter which ERP platform they're using, Leeyo's next-generation revenue recognition software rescues companies and revenue teams of all sizes from the chaos of today's manual data entry or customized processes."
RevPro automates and manages every process facing a revenue team -- seamlessly integrating with the quote-to-cash processes of any ERP system to deliver unparalleled visibility, functionality and configurability to the revenue recognition and reporting process. With RevPro, users:
- Automate all key revenue recognition requirements
- Simplify all aspects of revenue and COGS management
- Monitor revenue and all related activities on a real-time basis
- Accurately forecast revenue
- Accelerate period-end close and financial reporting cycles
- Stay current and in compliance with the latest revenue guidance
- Eliminate time-consuming and error-prone manual systems
- Deploy on premise or in the cloud
Leeyo's next-generation revenue recognition software rescues companies and revenue teams of all sizes from the chaos of today's manual data entry or customized processes. Leeyo's RevPro -- the most complete revenue recognition software suite on the market -- automates and manages every process facing a revenue team -- seamlessly integrating with the quote-to-cash processes of any ERP system to deliver unparalleled visibility, functionality and configurability to the revenue recognition and reporting process. Learn more about Leeyo Software and RevPro at www.Leeyo.com.
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