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palo alto, ca
www.facebook.com
Industry: Social Media
Annual Rev:Private
Employees: ~1000 |
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Facebook Inc. is the leading provider of social
media networking utilities with over 80million
subscribers and one of the fastest growing pre-
IPO companies in the industry |
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| http://www.facebook.com |
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| Facebook |
| Enabling Revenue Management for Social Media Ads |
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revstreamTM provided a flexible yet very scalable system for us to manage our entire revenue process all within Oracle. revstreamTM’s tight integration with the Oracle order-to-cash process enabled us to seamlessly manage, reconcile and report our revenue much more timely and accurately than before.
Revenue Controller
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| Overview |
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| facebook inc, is a fast growing social network utility with over 80 million
subscribers including a growing number of facebook apps developers. As a result, facebook is attracting top name brands to run major advertising campaigns on their property. With the result social ad revenues are now the
primary source of revenue for the company. The challenge faced by this
young company, was to enable an enterprise class financial system to
support and manage the unique product lines revenue recognition
requirements. |
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| Challenge |
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 Complex revenue recognition rules - standard ERP/financial systems do not have the flexibility to support time, delivery or performance based
revenue recognition rules
billing - inability to separate billing from revenue recognition as part of a standard process
systemslack of scalable and flexible ERP system to provide an integrated revenue management workbench that would allowreviews/approvals and ability to report and forecast revenue on a daily basis
compliance risks - compliance risks due to homegrown and semiautomated legacy system to process revenue recognition, billing & monthend reconciliation
real-time IO management - managing IO changes in real-time (stop & transfers, cancellations etc.) |
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| Solution |
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revstreamTM revenue management engine was configured and implemented in
less the 16 weeks to provide facebook a single integrated revenue management
workbench to streamline and manage the online advertising industry’s complex
revenue recognition scenarios and provided comprehensive reporting
capabilities. aquarius was engaged for this effort for their expertise in the online
advertising industry and domain expertise in billing and revenue management.
revstreamTM solution provided a “single integrated platform” to enable the
following
key capabilities:
process centric revenue management - rules based schedule/ allocate;
calculate, manage (review/approve); recognize and post to GL
enabled automated time, delivery and performance based revenue
recognition
compliance features like segregation of duties (SOD) and audit trail
reports
revenue management reporting and analytics datamart using Oracle BI
seamless integration to Order Management for delivery information and
statistics and to Oracle GL for automated posting of journal entries
aquarius’s relevant industry experience and solution helped facebook eliminate
“excel spreadsheets” and manual processes in accurately and efficiently
managing revenue transactions from a single integrated workbench along with
the ability to forecast and create adhoc reports. |
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| Results |
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highly automated, efficient and accurate revenue scheduling, allocation and accounting process
ability to obtain daily revenue snapshots, forecasting capabilities - managing the entire company’s revenue
compliance risks minimized and mitigated with the use of approvals,exception reporting, audit trails and SOD
increased productivity of Finance team
Scalable and flexible platform to support future product lines and evolving business model
Single source of truth for full financials (billing, revenue, credits, cash,collections, GL)- Oracle |
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