NetSuite for the Software Industry
“There’s no doubt that NetSuite has continued to help us increase sales. Over the five-year period NetSuite has helped us grow revenue by 250 to 300%.”
Keystone Data has particular experience that can help software companies maximise their return from NetSuite. Before starting this company as a NetSuite solution provider and services company, Davin Fowler started a software company that developed and delivered a SAAS software product, selling it in 2012.
The NetSuite Software Company Edition
The only integrated cloud business suite designed specifically for software companies. It streamlines business processes and provides a comprehensive back-office and front-office foundation, so you can accelerate revenue growth.
Advanced Financials with Revenue Management and Revenue Recognition
NetSuite gives software companies all the tools needed to manage revenue recognition and billing schedules while ensuring compliance. You eliminate double entries and manual reconciliations with a single financial system that manages accounting, complex billing, and revenue recognition.
Revenue recognition templates allow controllers to define revenue recognition models and automatically apply them to line items in customer invoices. Dashboards and reports enable monitoring and reduce the risk of errors or non-compliance associated with multiple spreadsheets and manual processes.
From SaaS subscriptions and renewals to ongoing maintenance and support, software companies get the critical end-to-end functionality they need to effectively manage recurring revenue streams. Powerful customization capabilities make NetSuite the only solution that provides everything you need for managing a recurring revenue business without third-party systems.
Improve Sales and Customer Service Productivity
NetSuite’s CRM is completely integrated with order management, fulfilment, and financials, so everyone works from the same data. Salespeople have the tools to shorten sales cycles and speed up cash flow. Customer service reps can provide fast and helpful service because they access only one system.
Subscription Model License, Maintenance, and Upgrades
NetSuite’s cloud subscription model provides an extended IT department, lower costs, and anytime, anywhere access. The latest software enhancements are always applied automatically, and your customizations carry over with each upgrade, eliminating the need for upgrade testing and coding.
Deep Services and Support Functionality
- NetSuite lets you provide the right service to the right customers at the optimal cost.
- Self-service portals give customers access to order history, outstanding invoices, and trouble tickets.
- Multichannel services are tracked to a single customer record. And job and time tracking are built into the system.
Rich Channel and Partner Relationship Management Capabilities
- Joint tools for forecasting, pipeline, opportunity, and customer account management put you and your channel partners on the same page.
- Support for lead assignment and registration, promotional discounts, and marketing campaigns helps you market your brand together.
NetSuite version 2015.1 includes a number of planned enhancements to the projects module – see the end of this blog for an overview. There are also a number of planned enhancements to the recurring billing module highlighted towards the beginning of this blog.