Revenue Management
Advanced Billing
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One critical capability eludes many midsized companies today, including those in the software industry: flexible billing functionality that supports a myriad of contract terms. Without flexible and powerful billing capabilities, it's difficult to govern how and when you bill customers.
NetSuite's software industry solution's advanced billing feature makes contract billing faster, more convenient, and easier to manage. Many businesses invoice customers for a sale over a period of time, or contract term. For example, a customer might commit to a one-year membership billed monthly, or a three-year service contract with quarterly invoices. Keeping track of billing schedules, integrating them into sales forecasting, and managing the invoicing process are all critical steps that present major challenges. Yet companies must meet these challenges to manage cash flow successfully.
With NetSuite's revenue management software, you can automate the billing process according to the terms of customer contracts. And when coupled with revenue recognition, NetSuite enables you to bill your customers automatically, as well as recognize revenue on different schedules.
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- Advanced billing puts you in full control of your billing schedules by automating and simplifying your processes.
- Eliminate the manual work typically associated with billing customers, reducing errors and saving your company time and money.
- Streamlined contract-management processes mean that customers receive invoices on time, leading to faster payment cycles and better cash flow.
- NetSuite's revenue management enables you to align revenue recognition with billing, so that there are no gaps between your accounting processes.
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- Create billing schedules and templates easily and quickly to automate the creation of invoices based on the related contract.
- Billing schedules and templates are highly customizable in order to meet the exact needs of your business.
- Billing schedules indicate what is to be invoiced and when, providing more granular visibility into cash flow from period to period.
- Billing schedules can apply to an entire sales order, or to each item on a sales order.
- Flexible views allow you to see only orders due to be invoiced by a certain date, as well as scheduled billings for a specific order.
- Powerful reporting capabilities provide accurate billing forecasts.
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