Trullion Adds Revenue Recognition and Audit Tools to Accounting Platform

Trullion has added new revenue recognition and audit modules to its accounting automation platform.

Both modules are powered by artificial intelligence (AI) and enhance accounting transparency, Trullion said in a Monday (Jan. 16) press release.

“The accounting world has incredible opportunities for innovation, and the current trends in AI and automation are making it increasingly accessible in 2023,” Trullion CEO Isaac Heller said in the release.

PYMNTS research has found that two-thirds of firms plan to automate routine accounts payable (AP) tasks in the next 12 months.

Aiming to automate routine procedures, 11% of firms said they were currently innovating their AP systems, 31% said they would start innovating in the next six months and 27% said they would do so in the next 12 months, according to “ERP Solutions in B2B Payments,” a PYMNTS and American Express collaboration.

Finance leaders are in a position to modernize operations for the future, but they must be deliberate about the technologies they choose to support that future-proofing initiative, Heller told PYMNTS in an interview posted in 2021.

“[Chief financial officers (CFOs)] and controllers ultimately are the ones driving innovation,” Heller said at the time. “We work closely with them to ask, ‘What are you doing today in your company that can be brought into a modern automation?’”

Trullion’s new offering, Revenue by Trullion, synchronizes customer relationship management (CRM), billing and contract data into a single platform and generates enterprise resource planning (ERP) entries, disclosure reports and advanced reporting, the release said.

The second new module, Audit by Trullion, helps audit firms accelerate their test of details process, according to the press release.

This module leverages AI to extract ERP and general ledger files and validate them against invoices, PDFs and other source data.

“The 300+ companies and firms who adopted Trullion last year were not just looking for lease accounting — they were looking for an accounting technology partner,” Heller said in the release. “We’re excited to get Revenue by Trullion in the hands of our early CFO and controller adopters, and at the same time provide a valuable new test of details workflow for our audit clients.”

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