Joining Airwallex: Leapfin's Exciting Next Chapter

Confidently meet evolving compliance standards

Automate the preparation of transactions based on industry and individual business requirements to deliver accurate, compliant revenue reports.

Overcome compliance challenges with AI-powered revenue recognition

One of the biggest challenges for Finance and Accounting teams is keeping up with changes in the business. When coupled with the always expanding compliance requirements of standards like ASC 606 and IFRS 15, the challenge is exponentially harder, especially for teams that rely on manual reconciliations, error-prone spreadsheets, and disconnected data trails. AI-powered revenue recognition and reconciliation with Leapfin provides the confidence and relief of accurate, fully auditable, and compliant revenue data at any time, not just at the end of the month.

Benefits of using Leapfin for revenue recognition

Automatically prepared data that meets compliance requirements

Consolidate fragmented revenue data into a single, configurable system that ensures compliance with ASC 606, GAAP, and SOX, and prepares accounting-ready data for faster reconciliation and reporting at any time.

Full traceability of every transaction and accounting treatment

Clearly see and trace every transaction, links to related transactions, and any changes or treatment of transaction data – all in a single system – to make investigations easier and audits run significantly smoother.

Reduce the audit risk of error-prone manual processes

Remove the risk of human error with automation that helps scale finance operations as your business evolves and requires more systems, generates higher transaction volumes, and introduces billing and payment complexity.

Empowering Finance and Accounting teams to account for and report on revenue at scale

Automatically ingest data from multiple sources

Instead of relying on spreadsheets to manually merge revenue data from multiple systems - like PSPs, billing systems, data warehouses, etc - data is automatically ingested into Leapfin in real-time.

Raw data automatically prepared for accounting

Access a single, organized system ready for reconciliation, journal entry preparation and reporting, so you can avoid the painstaking work of formatting inconsistent data from multiple sources.

Anytime access to your most valuable data

Empower your team with the ability to review, reconcile, post, and analyze your revenue data whenever you need to, without the burden of relying on other teams to fulfill data or report requests.

Track and link every type of revenue transaction

Gain full visibility into the entire order-to-cash process with details on every type of transaction, from every source of data, in one system, ready for internal review and even auditors.

Streamline revenue reconciliation and reporting

Drill into all of the details of your revenue transactions, and the links between them, with the help of the connected accounting map, standard reporting, and Luca’s AI-powered data exploration.

Share reliable revenue data across your business

Revenue reporting is faster and easier than ever when all of your disparate transaction details are consolidated into a single system and transformed into clean, reliable data ready to be shared.

Resources for improving auditability and compliance

3 Ways SaaS Finance Teams Are Getting Ahead with Clean Revenue Data

How top teams unify their rev data, clean their logic, and document supporting details | Get audit-proof, ready for the board, FP&A, diligence, and more.

Real-world AI-powered accounting use cases

Watch this 15-minute talk with Baker Tilly auditor Mario Castro, CPA, as he shares insider tips for ensuring your audit is a successful sprint.

How Guideline Scales Revenue Accounting with AI-Powered Automation

Guideline’s lean accounting team automates revenue reconciliation, eliminating manual work and errors, streamlining monthly close, and ensuring audit-readiness.

Real-world examples of improving reconciliation and revenue recognition

• Joe Blanchett - Director, Business Systems, SeatGeek
  "Leapfin has completely transformed our month-end close process, eliminating 4 days of manual work, with its ability to handle hundreds of millions of transactions and transform them into a subledger."

• Jason Grenier - CFO, Altitude Sports
  "The consistency and quality of data we get with Leapfin is excellent. The reduction in our month-end close time has freed up our team to focus on meaningful analysis, driving better business decisions."

• Alicia Arntson, CPA - VP, Controller, Eight Sleep
  "This isn’t just about automation. It’s about giving our team a system we trust, and the time and space to focus on higher-value work. I’m such a fan. I can’t say enough good things about Leapfin. It has been a huge win for us."

• Brian Cheung - Sr. Manager, Accounting, GoodRx
  "I finally feel like I can fully support the numbers I’m posting to NetSuite every month. If someone asks, I don’t need to explain assumptions – I just pull the report in Leapfin."

FAQs

What compliance standards (ASC 606, GAAP, SOX, IFRS 15) does Leapfin support out of the box?

Leapfin supports ASC 606, GAAP, SOX, and IFRS 15 compliance. It offers flexibility that enables teams to stay compliant with industry standards, as well as meet internal business requirements. The platform consolidates and prepares accounting-ready data that meets evolving standards, so Finance teams can adapt to changes and deliver accurate revenue reports faster with confidence.

How can Leapfin reduce audit risk for high-growth SaaS and subscription businesses?

By automating revenue recognition and reconciliation, Leapfin reduces the need for error-prone spreadsheets that rely on manual processes. Leapfin users have a single, consolidated view of all their revenue transactions with links across sources – like payments to invoices. The transactions are automatically prepared and adjusted based on rules configured to meet both industry requirements as well as business needs.

How does Leapfin help improve the audit process?

Leapfin improves the audit process by automating time-consuming processes, tracking transactions and data treatment, and logging changes as they happen. More specifically, Leapfin helps streamline the audit process in the following ways:

• Automation that reduces risk of human error, enforcing consistency and establishing standardized workflows to be documented, tested, and monitored.
• Audit trails for every transaction, including time stamps and user activity.
• Reconciliation of data across disparate systems (e.g., billing, CRM, ERP) to ensure completeness.
• Automated, centralized logs that document how revenue was calculated and recognized.
• Role-based access control, which is key for maintaining auditability and minimizing risks from unauthorized changes.
• Workflow approvals that ensure that no single person can manipulate both the data and its recognition logic.
• Versioning of recognition rules, which show how and when policies were changed, enabling traceability and controls over the revenue recognition methodology, especially as contracts evolve.
• Scalability for complex revenue models to account for changes – like global expansion – reducing the risk of misstatements that could trigger SOX compliance issues.
• AI-powered data exploration that enables simple, natural-language questions for fast investigation of revenue data.

What are the risks of relying on manual processes for compliance?

Manual compliance processes increase the risk of errors, inconsistencies, and missing audit trails. As companies grow, there are more factors to consider – more systems, high volume of transactions, changing business model, new products and pricing – that increase complexity in meeting compliance standards potentially exposing companies to financial restatements, audit issues, and compliance penalties.

How can Finance teams prepare for evolving compliance standards?

Finance teams can prepare by centralizing revenue data, adopting automation, and ensuring full visibility into transaction details. Simply hiring more people does not resolve the root cause of the problem – revenue data management. Instead, implementing systems and processes to manage data and change will help reduce errors and make adapting to new standards far easier.