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NetSuite for Software & Technology Companies
For software & technology companies dealing with complex revenue recognition issues, it's important to have a modern cloud-based ERP solution, like Oracle NetSuite, with the flexibility to manage multiple revenue cycles, provide options for revenue allocation and offer confidence that the reporting supports AICPA Revenue Regulations rules.
RSM understands that middle-market technology & software companies fall into 4 phases:
- Startup – focused on obtaining funding, typically from private equity growth partners for the development of their core product and generating sales.
- Rapid Growth – focused on positioning the company for scale and formalizing policies and procedures. Sales growth may include the need to defer revenue and align with ASC606/IFRS15 guidance and employee count growing.
- Established & Expanding – focused on maximizing the business value and profitability with an eye towards IPO. Mergers and acquisition may be taking place along with international expansion, as revenue continues to grow.
- Mature & Exiting – focused on regulatory compliance and preparing for an exit to the public sector. Revenue continues to grow so much that it is time to go public!
Through all of the growth life cycle, RSM can serve your business to help you transition from one phase to the next. Positioning your company for growth and the technology to support is critical. With more than 750 software customers, NetSuite is the #1 cloud-based ERP for industry leading software & technology companies. View more benefits below.
Download our subscription billing guide
In this guide you will receive a product comparison of leading billing solutions along with many other tips and tricks for implementation. This matrix is helpful for companies who are leveraging or considering Oracle NetSuite as their ERP.
Providing an end-to-end, fully integrated ERP & CRM solution with robust functionality across billing, reporting, revenue recognition, and human capital management & payroll. Key benefits for technology & software companies include:
- Recurring billing: Manage recurring billing processes, renewals, and cross-sell/up-sell with recurring revenue management. Automate billing for subscription and maintenance-based revenue streams, and increase profitability by cross-selling and up-selling to customers.
- Professional services automation ( PSA): NetSuite OpenAir PSA gives organizations the ability to run their core business operations including project management, resource optimization, project accounting, time and expense management, and billing and revenue recognition.
- Third party integrations: NetSuite can easily integrate with third-party solutions, like Salesforce for complete lead-to-cash automation, Avalara for tax automation and compliance, and Concur for expense management, to name just a few.
- Third-party reporting and analytics: Leverage a single database for your entire business with NetSuite’s native reporting and analytics capabilities, or select from a number of external solutions to capture and analyze enterprise-wide data for decision making.
- Compliance: Support complex and evolving FASB, SEC (including SOP 81-1, SAB 101, EITF 00-21, EITF 08-01 and EITF 09-03) and AICPA Revenue Recognition standards with native tools and reporting.
- Global Operations: Manage your international operations including global reporting, GST/VAT/Consumption tax management, multi-subsidiary consolidation, multi-currency and multi-language requirements.
- Customer Support: Leverage NetSuite’s robust case and issue management capabilities. Provide a customer portal for support, real-time order status and payment management. Offer clients a knowledge base and track the time your team spends managing client service issues.
- Planning and budgeting: NetSuite’s Planning and Budgeting solution enables a single, consolidated platform for creating and sharing plan details and documents – with supporting comments, formulas and worksheets – in a single shared location.
RSM is one of the largest and most highly decorated Oracle NetSuite partners globally, and serves as a Solution Provider Partner, Alliance Partner, and BPO Partner for NetSuite. RSM is the trusted advisor to middle market companies for the evaluation, selection, implementation and support of our customers’ NetSuite investment. With more than 100 offices across the North America and a global network with established NetSuite practices in 14 countries, RSM has certified and highly experienced NetSuite resources around the world. With our unique understanding of the middle market, we’ve helped thousands of companies move forward with confidence. We listen closely to make sure we understand you, your business and your organization’s culture, so that you experience the power of being understood.