New: Sales Actuals & Backlog
For companies that have deferred revenue, it's very useful to get the sales backlog reflected accurately in the forecast. Jirav has a full revenue recognition engine built in and we continue to add more transaction types to keep improving how it works.
In the example above, we see how a customer starts with 10 licenses and $10 new Monthly Recurring Revenue (MRR) in Jan. In Apr, they cancel out 4 of their licenses, reducing the MRR to $6. In Jun, they decide to pause their contract for 3 months. The MRR drops down to $0 for those 3 months, but the Contracted MRR stays at $6. Also, billings are skipped in the pause period and the deferred revenue balance is carried through until the next bill hits at the end of the pause. Finally, in Nov the customer adds 13 new licenses, co-terminus with the original contract, making the total licenses be 19, and the MRR & Contracted MRR is now $19. This whole scenario and other variants of this can be accurately reflected within Jirav, making it the one source of truth for all your sales data.
Being able to properly reflect the deferred revenue and billings on the actuals side makes it possible to hit the forecast window with the right run-rate and to project future revenue accurately.