Last Modified: February 2nd, 2022
2 min read
Software products and services have become the essentials in running most companies around the globe. Since market demands, in the internet age, could come from anywhere, customers can come from different economies, cultures, and all with different expectations, strategy approach, mode of delivery, etc. Managers in the SaaS industry struggle to cope with all these business challenges while making sure that other aspects such as employee/resource, accounting, and overall administration are running smoothly.
NetSuite through its countless successful implementations already understands the problems that plague this industry. Equipped with advanced knowledge of software and internet business challenges, NetSuite knows well how to help companies in fast-changing business landscapes that are struggling with the following:
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- Outdated and inefficient financial close processes
- Delayed performance metrics input
- Unsynchronized complex order, billing, and revenue recognition processes
- Global-scale business operations management
- Difficult and inconvenient financial reports generation
- Meticulous audit processes
The Five Essentials to Building a Strong Business Foundation that NetSuite Supports Out-of-the-Box
NetSuite definitely delivers the needed expertise and mechanism to enable customers to scale and grow their business seamlessly. NetSuite has a phased approach which it calls “the Proven Path to Success”. The following are NetSuite’s 5 essentials to building a strong business foundation:-
- Real-time visibility to metrics that matter
- Effective automation for running the critical finance and accounting processes to increase accuracy and efficiency of the financial close processes
- Synchronization of complex billing and revenue management flows and automation of subscription and renewal processes
- Support for subsidiaries and currencies for global operations
- Developing innovative strategies that help maximize customer lifetime value such as leveraging predictive analytics
NetSuite delivers a number of roles that are pre-configured to ensure rapid adoption and quick speed of implementation:
- CFO
- CEO
- Accountant
- Controller
- Renewals Manager
- Billing Manager
- Purchasing Manager
- AP Analyst
- Revenue Manager
- IT Manager
- Operations Manager
- AR Analyst
- Sales
- Administrator
NetSuite intimately knows and understands the pain points discussed earlier in the SaaS industry. It also has a proven track record of what the needed solutions are to address those pain points and build a strong business foundation. Therefore, not surprisingly, NetSuite is the marketing leading solution to run SaaS enterprises to effectively and optimally address their business challenges and help them scale and grow.
