Trullion Launches AI-Based Revenue Recognition and Audit Modules to Achieve New Levels of Accounting Transparency |
Accounting and finance professionals benefit from a modernized digital approach to revenue recognition and auditing firms can now speed up the process of testing details
NEW YORK, January 16, 2023 /PRNewswire/ — Trullion, the leading accounting automation platform, today announced the availability of two new modules, Revenue by Trullion and Audit by Trullion, for businesses and early adopters. The launch comes on top of the rapid adoption of Trullion’s lease accounting module, the only AI-powered tool for ASC 842 and IFRS 16 compliance.
Revenue by Trullion offers a new way to accelerate the adoption process of ASC 606 and IFRS 15 by synchronizing CRM, billing and contract data on a single platform for internal and external stakeholders. Powered by AI, the workflow generates ERP entries, disclosure reports, and advanced reports. The module is currently available to businesses using Salesforce CRM and Netsuite ERP and available in select verticals, such as software.
Audit by Trullion – now introduces a new workflow to accelerate detail testing, within its broader suite of audit automation solutions currently on the market. Trullion’s Test of Details feature leverages AI, allowing auditors to extract ERP/General Ledger (GL) files and instantly validate them against their source data, such as invoices, PDFs and more customer sources.
“The world of accounting offers incredible opportunities for innovation, and current trends in AI and automation make it increasingly accessible in 2023. The more than 300 companies and businesses that have adopted Trullion l last year weren’t just looking for lease accounting – they were looking for an accounting technology partner,” said isaac heller, CEO of Trullion. “We are excited to put Revenue by Trullion into the hands of our first CFO and Controller users, and at the same time provide a valuable new flow of detail testing for our audit clients.”
Trullion’s revenues are available to existing customers and other businesses through Trullion’s partner network of over 100 auditing and consulting firms. The Audit Test of Details workflow is now available for companies currently using Audit by Trullion.
Trullion, which is present in New York and Tel Aviv2022 has just had a great year, with rapid customer adoption, a funding round led by Aleph & Third Point and the expansion of the New York desks. The company currently works with major Big Four and regional accounting firms, as well as organizations ranging from pre-IPO technology companies to Fortune 500 multinationals. Trullion supports US Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), with clients on five continents.
Trullion is an AI-powered accounting platform that automates financial workflows for CFOs, accountants, and auditors to increase efficiency, avoid costly oversights, and foster collaboration. Founded in 2019, Trullion is headquartered in New York, NY with offices at Tel Aviv and secured funding from Aleph, Third Point Ventures, Greycroft and finance executives from SAP, Ernst & Young, AirBnB and Dropbox. To learn more about Trullion, visit www.trullion.com.
Media Contact: DeeDee Rudenstein, [email protected]