10.20.17 -- Software's New Revenue Recognition Standards
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Partnering with Worldpay helps drive your customer growth and loyalty, create added value, and increase your bottom line. You can now leverage a breadth of payment acceptance and equipment solutions to make your ISV business an indispensable resource to your merchant customers.
Hopefully you've heard you will need to address the new standards (also called ASC606 or ASU2014-09) when preparing your GAAP financials. As a nonpublic company, you will need to follow the new GAAP standards starting January 1, 2019. This list of steps to take by December 31, 2017 should help you put together a plan for how to do this.
When I typed "software engineer" into the Indeed.com search bar in late August, the results showed 202,540 open positions. Amazon was responsible for 5,164 of these listings, and Microsoft was a distant second at 1,782. Let that sink in for a moment – those two companies alone are hiring nearly 7,000 developers.
I recently talked to an investor who has spent more than 20 years investing in and working with early-stage SaaS companies. This VC has made more than 50 investments in software companies, has more than $250 million under management, and has a cumulative market cap well into the double-digit billions. Here are a few takeaways from our call that can help any software company looking to raise money and scale.
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