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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.