Recurring Revenue Management
Maximize the Potential of Your Recurring Revenue Streams
For software companies, maximizing the revenue from ongoing licenses, support and maintenance is critical for long-term health and success. Unfortunately many software companies suffer revenue leakage and customer churn because they rely on cumbersome, inefficient and sluggish manual processes to manage contract renewals and account for recurring revenue.
NetSuite provides the critical end-to-end functionality that software companies require to effectively manage their renewal business and maximize their recurring revenue. NetSuite's contract renewals solution is uniquely designed for software companies and is the only solution that integrates with all of your front- and back-office processes to deliver a complete, real-time view of customers and their transaction histories.
NetSuite's contract renewals capabilities allow you to automate renewals while providing real-time visibility into your installed base and renewal pipeline. You'll enable your teams to increase renewals, sell more licenses and features, and improve customer service. And you'll boost billing efficiency and minimize the risk of errors through automation and seamless cross-functional integration.
- Reduce risk of lost revenue and customer dissatisfaction
- Improve efficiency and reduce costs
- Streamline renewal processes for vendors and customers
- Equip sales, finance and call centers with all the relevant information they need to deliver excellent service and increase customer renewals
- Eliminate the risks and errors that come with spreadsheet-based processes or immature financial systems
- Get a single real-time view of your global billing operations and interact consistently with customers around the world
- Monetize existing customers with strong uplift and discounting features.
- Automate renewals based on pre-defined windows
- Execute perpetual or term-based license renewals.
- Co-terminate multiple transactions into a single contract
- Maintain multiple contracts as necessary.
Uplift and Discount Management
- Automatically uplift contracts based on a price book or across the board
- Flexibly implement discounts and uplift at customer or contract levels.
- Track and manage multi-tiered sales interactions.
- Track renewal tasks as they are automatically added to dashboards
- Monitor KPIs of key metrics, trends and priority items
- Drill down to detail data for interactive reporting.
Cross-Selling and Up-Selling
- Capitalize on sales opportunities with the automatic creation of renewal transactions based on a pre-defined window
- Identify and address customers at risk of canceling licenses or reducing scope
- Leverage rich customer transaction histories identify new opportunities within your client base
- Fine-tune commissions and incentive compensation based on quotas, sales, quantity and more
- Configure automated and customized recommendations for cross-sell and up-sell
- Promote cross-sell and up-sell features and options to customers via your website.