NetSuite for Software Companies

By April 11, 2013NetSuite

When investing in an ERP solution, companies must consider a multitude of benefits and features that will have a profound impact on how the company manages its daily processes.  Businesses in varying industries have different considerations when it comes to choosing an ERP system that is best for them.   Over the successive weeks this blog will discuss why NetSuite is right for companies involved in wholesale distribution, software, netsuitesoftwareservices, retail, manufacturing, general business and ecommerce.  This will also include the features and benefits that pertain to enterprises in each of those areas.

Our last blog post detailed the specific features inherent in NetSuite and why it is one of the top software applications for wholesale distributors.  Some of the key benefits include real-time visibility throughout the entire organization and built-in support for wholesale distribution business processes.  This blog will discuss why NetSuite is on of the top solutions for software companies.  Below you will find common issues experienced by software companies and how NetSuite resolves these issues.

Common software company issues:

  • Lack of timely financial reporting
  • Inefficient financial management
  • Complex revenue recognition
  • Lack of real-time visibility
  • Inefficient recurring revenue management
  • Lack of single customer repository

How NetSuite resolves these issues:

  • Lack of timely financial reporting
    • Real-time financial reports
    • Granular drill down and visibility into cash management
  • Inefficient financial management
    • Complete coverage across all major accounting processes—order to cash, purchasing, expense management
    • Accelerate the financial close
  • Complex revenue recognition
    • Complete coverage across all major accounting processes—order to cash, purchasing, expense management
    • Accelerate the financial close
  • Lack of real-time visibility
    • Real-time role-based dashboards
    • Pre-defined KPIs for software companies
  • Inefficient recurring revenue management
    • Complete control of the renewals process
    • Manage billing for subscription and maintenance streams
  • Lack of single customer repository
    • Finance and sales integration
    • Advanced quote management
    • Cross-sell and up-sell management

 

NetSuite provides the leading cloud-based integrated ERP/financials for software, Software as a Service (Saas) and Web 2.0 companies. Leveraging NetSuite, your software company can manage its entire front- and back-office operations through a single, flexible, powerful business application. Integrating advanced financials, revenue recognition, billing, CRM, ecommerce and more, NetSuite provides a complete on-demand solution tailored to the unique needs of the software industry.

The NetSuite Software Company Edition features software-specific capabilities that your company needs to address the industry’s requirements—evolving revenue recognition rules, recurring revenue management, real-time visibility and more. Unlike on-premise vendors or niche tools that require high maintenance or don’t focus on software-specific requirements, NetSuite’s solution is built from the cloud up to help your company understand and manage performance and optimize revenue and growth.

Contact Our NetSuite Team

Are you interested in learning more about the features in our NetSuite solution? Contact SWK’s NetSuite professionals to learn how these features can benefit you. For additional information please contact us at 877-979-5462, or click here to contact us.

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