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.
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.
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.
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.
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.
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.