SAP Revenue accounting and reporting, RAR in short is an SAP delivered software designed specifically to help businesses comply with the statutory IFRS revenue standard (ASC 606) for revenue recognition.
SAP RAR is a solution that supports all financial processes across multiple lines of business after an order is booked by an organization. It takes care of the complex billing process and helps in the timely invoicing of the order. The software also manages the credit and collections processes and helps the company collect its receivables.
The main challenges addressed by SAP RAR
- Complexity of revenue management processes – In today’s digital economy, organizations can be seen selling goods, services, or goods/services combinations which brings complexity to their operations and makes it hard to manage their revenue recognition processes.
- Globalization – Organizations do business in more than one country which exposes them to different accounting standards and tax regulations.
- Increased scrutiny from investors – Investors have started to place more focus on how companies recognize revenue from their operations which is resulting in increased auditing activities towards these businesses.
SAP RAR Training Objectives
SAP Revenue Accounting and Reporting training will familiarize you with the following:
- Recognizing revenues for contracts that are subject to multiple elements
- Identifying performance obligations in a contract
- Determining the transaction price for a contract
The Career Opportunities after SAP Revenue Accounting Reporting Course
With most organizations looking forward to implementing SAP RAR solutions as soon as possible, there is a significant demand for experts who have gone through SAP RAR training. SAP RAR consultants can be hired by organizations that are looking for people to handle their technical issues with the help of SAP RAR. As an expert in SAP RAR, you will be responsible for developing the system, maintaining and supporting it, and providing technical assistance to those who are responsible for handling it.
If you want to pursue a career in this field, it is important that you get certified in SAP RAR and then find an opportunity. This will help you acquire the skills needed for this job role and also get a chance to put those skills into practice. As such, SAP RAR certification should be an important part of your job search process.
Where Do You Stand with SAP Revenue Accounting Reporting Certificate?
After undergoing SAP RAR training, you can apply for various job profiles in some of the leading companies around the globe. Some of these include:
SAP RAR Consultant; Functional Analyst; Financial Analyst; Business Analyst; Senior Consultant; Director – Enterprise Applications.
If you are planning to go through SAP RAR training, you can be assured of great job opportunities once you have completed the course. You can look forward to working as a consultant, project manager, or implementation specialist at various organizations in different sectors like IT, FMCG, Manufacturing, and so on.
So, find the right SAP Revenue Accounting Reporting training program, upskill yourself, and stand strong to get high-paying jobs at top organizations.