SAN RAMON, Calif., March 5, 2013 (GLOBE NEWSWIRE) -- ArmaninoLLP, (www.amllp.com/microsoft-dynamics) the 8th largest Microsoft Dynamics Partner in the U.S. and a provider of integrated audit, tax, consulting services and technology, today released Revenue Management for High Tech Industries on Microsoft Dynamics AX 2012 R2, a software application designed to support complex revenue recognition standards.
The new release adds to Armanino's High Tech Industries for Dynamics AX Certified for Microsoft Dynamics (CfMD) suite of industry modules, which include a number of pre-configured add-ons for High Tech companies. Microsoft certified the Revenue Management module through a process that includes rigorous testing, customer references, and other objective third-party verifications that prove usability and effectiveness.
Armanino's Revenue Management module is an integrated application that provides a comprehensive solution for this crucial accounting function for software companies, electronics and complex equipment manufacturers, which have challenging revenue recognition requirements. In recent years, standard setters have promulgated a series of rulings that have been difficult for high tech companies to adhere to with existing business applications. Most recently, the revenue recognition standards formerly known as SOP 97-2, EITF 08-01, and EITF 09-03 were formalized under the Accounting Standard Update (ASU) 2009-13 and ASU 2009-14.
Armanino developed this new module to address these changes, allowing companies to abandon less effective methods for making revenue recognition calculations with this new module that helps clients meet the new standards, says Armanino Partner Chris Moore.
"Many companies have had to turn to applications such as Excel with its inherent limitations around data control and auditability," Moore says. "But best-in-class companies can now deploy this integrated ERP module to streamline and automate these functions and greatly reduce errors."
Technology companies often sell multi-element bundles that must be accounted for as independent accounting units with revenue carve-outs, re-allocations and deferrals. The Armanino solution addresses these and other requirements of companies that sell arrangements that include hardware and software elements, as well as post-contract support and other professional services.
"We are excited to extend the value of our clients' ERP platforms and welcome the opportunity to expand into new markets with this release on Dynamics AX 2012 R2," says Moore. "With extensions like Revenue Management for High Tech Industry certified by Microsoft, our customers can be confident that they're adding effective business process support without having to integrate a separate application."
About Microsoft Dynamics AX
Microsoft Dynamics AX 2012 R2 is a business solution for global enterprises that supports industry-specific and operational business processes, along with comprehensive, core ERP functionality for financial and human resources management. This single solution comes with localizations for 36 countries in the box, with a specialized focus on manufacturing, distribution, retail, service industries, and public sector. Simple, powerful and agile, it empowers users to anticipate and embrace change to build thriving businesses.
About Armanino's Microsoft Dynamics Practice
Armanino is one of the largest Microsoft Dynamics partners in the nation as a value-added reseller (VAR) and implementation partner for Microsoft Dynamics CRM, Dynamics AX, and Dynamics GP. Additionally, the firm offers the Microsoft Dynamics AX for High Tech Industries™ Certified for Microsoft Dynamics (CfMD) solution. This product helps software and internet, semiconductor, medical device, and electronics manufacturers to empower their sales forces, cut costs and time-to-market, improve forecast accuracy, and manage distributor relationships and supply chains. As a Microsoft Inner Circle member, Armanino is among the top 1% of partners in the globe.
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