Understanding the financial control and management of advanced service contracts

West, Shaun; Montaruli, Lorenzo; Alves, Kyle; Gaiardelli, Paolo; Tenucci, Andrea

Abstract

This study provides a comprehensive analysis of financial strategies and controls essential for managing advanced service contracts effectively. It explores cost understanding, emphasising the significance of accurate cost estimation and adopting different pricing models to maintain profitability and competitive advantage. The paper considers using different revenue models, highlighting the shift towards service-oriented offerings and the challenges in revenue recognition, compliance, and cash flow management. It underscores the importance of aligning financial management practices with advanced services, including adherence to evolving international accounting standards and risk management to ensure financial stability and regulatory compliance.

• Presentation Conference Type: Conference Paper (published)
• Conference Name: Competitive Advantage in the Digital Economy (CADE)
• Start Date: Jun 24, 2024
• End Date: Jun 26, 2024
• Online Publication Date: Sep 30, 2024
• Publication Date: Sep 30, 2024
• Deposit Date: Mar 28, 2025
• Publicly Available Date: Apr 2, 2025
• Electronic ISSN: 2169-3536
• Publisher: Institute of Electrical and Electronics Engineers (IEEE)
• Peer Reviewed: Peer Reviewed
• Volume: 2024
• Issue: 7
• Pages: 152-158
• Book Title: 2024 IEEE International Symposium on Mixed and Augmented Reality Adjunct (ISMAR-Adjunct)
• DOI: https://doi.org/10.1049/icp.2024.2546
• Public URL: https://uwe-repository.worktribe.com/output/13461708
• External URL: https://ieeexplore.ieee.org/abstract/document/10700916