RecVue, which works in order-to-cash automation, has entered into a partnership with Effectus Group, a consulting firm working with technical accounting practices, to help companies access the best order-for-cash services and get money from B2B payments flowing more smoothly.
A press release Thursday (July 9) says Effectus Group, which does consulting work for a myriad of industries including technical accounting, IPO services and financial operations, can aid companies on revenue services and modernizing the receiving and processing of customer orders.
RecVue, meanwhile, boasts a revenue management solution that can help companies going through a period of rapid growth in recurring revenue. That can lead to more complex transactions, with amendments to customer orders and more compliance standards, which RecVue's product can help streamline. According to the press release, RecVue's product "can enhance any cloud or on-premise ERP solution in the areas of billing, revenue management, and partner compensation."
Eric Steller, RecVue chief revenue officer, said manual processes just aren't cutting it anymore for many business functions.
"We look for partners who can advise our customers who face increasing regulatory pressure, such as ASC 606 and IFRS 15, that demands improved revenue recognition, compliance and reporting," he said, according to the release. "We partnered with Effectus Group so that our customers can benefit from a top tier technical accounting firm to guide them while they rethink the entire order-to-cash process and adopt the RecVue platform."
Effectus Group CEO Mike Montgomery praised RecVue's "superior monetization platform" and said it could handle large loads of billing data — and also it can stay compliant with new revenue standards.
"This combination is critical for our clients as it allows clients to scale financial operations quickly and efficiently," he said, according to the release. "Effectus Group is excited to partner with RecVue as we expand our FinOps Systems practice and the order-to-cash automation solutions that we offer to our clients."
PYMNTS recently wrote about the importance of strong order-to-cash processes, as it can alleviate the problem of late payments many businesses face, moving the money more efficiently and getting rid of cumbersome friction.