How to address the challenges of software companies with NetSuite
How NetSuite ERP Overcome the Challenges of Software Companies?
NetSuite is one of the best cloud-based business management solutions that unlock the full potential of automation and growth. Software businesses and IT companies face a number of challenges right from automation to revenue recognition to scaling and customer service. Let’s review the potential benefits of NetSuite ERP software solutions for modern IT companies.
Process efficiency:
NetSuite deploys a comprehensive integrated solution that automates various key processes. You can automate order management, multiple revenue streams, and financial consolidations. According to a report, NetSuite ERP software solutions will substantially improve financial close time by 50%, sales productivity by 12.5%, and cut its order processing by 66%.
Better decision making:
Data is the key to decision making. NetSuite enables real-time data tracking and accessing from anywhere to make quick and accurate decisions. Konig Wheels is one of the best examples by saving around $120,000 annually in four years of NetSuite deployment.
Streamlined Billing:
NetSuite ERP software solutions streamline billing across subscription, product, usage, and services. It automates the order-to-cash process by collecting real-time information and integrating it with revenue recognition. You can generate, transmit, and collect invoices across multiple revenue streams.
Revenue recognition:
NetSuite enables all necessary tools to manage and solve complex revenue recognition challenges with ongoing compliance. This comprehensive solution avoids double entries and manual intervention.
Recurring revenue and subscription management:
Renewals are the lifeblood for IT/Software companies. NetSuite ERP software solutions automate contract renewals, streamline term and evergreen subscriptions. It also facilitates change order management, co-termination, and support up-sell/ cross-sell activities.
Global business management and accounts consolidation:
NetSuite OneWorld ensures seamless multiple currency handling and automation as your business grows.
Salesforce integration:
NetSuite ERP’s real-time connector for Salesforce integration enables powerful order management and finance capabilities with existing CRM. This will drive complete lead-to-cash automation seamlessly.
Time and cost-saving:
NetSuite enables IT and software companies to manage operations on the cloud. This results in a significant reduction in cost and time to manage multiple systems.
Professional services support:
IT companies can benefit from deploying NetSuite professional services automation (PSA) software to automate back-office operations and data handling. NetSuite enables you to have a 360-degree real-time view on opportunities, resources, and financials that contribute to business growth.
Customization:
Business-specific customizations are major challenges for software companies. The SuiteCloud platform provides a range of powerful tools for your unique business needs. NetSuite ERP software solutions ensure future-proof customizations that automatically upgrade to new versions.
Are you struggling with IT infrastructure deployment and revenue management? Amzur would like to know your software business bottlenecks and offer future-ready NetSuite ERP solutions to drive growth and revenues. We expertise in offering NetSuite development services and integration solutions to ensure business growth.