Recurring Revenue Management
Maximize the Potential of Your Recurring Revenue Streams
For software companies, a predictable recurring revenue stream is critical to success. To manage revenues effectively, sales, service and finance teams must partner closely to maintain cash flow, capitalise on cross-sell and up-sell opportunities, and meet customer expectations for high-caliber service tailored to their needs.
NetSuite's recurring revenue management capability 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. You'll equip your teams with accurate, on-demand information that will help them 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.
- Minimize errors and revenue recognition issues from spreadsheets or ad hoc applications
- Support agile pricing changes to subscription plans in response to customer or market demands
- Get a single real-time view of your global billing operations and interact consistently with customers around the world
- Ensure that your company can handle changing revenue recognition policies
- Eliminate the risks that come with spreadsheet-based processes or immature financial systems
- Improve profitability by minimizing "cost-to-serve"
- Equip sales, finance and call centers with all the relevant information they need to deliver excellent service and increase customer renewals
- Monetize existing customers with strong up-sell and cross-sell management features.
- Streamline billing through integration with order management, accounts receivable and general ledger
- Gain the flexibility to bill once or on a recurring basis; in advance or arrears; or by prorated terms
- Manage different payment terms, whether monthly, quarterly or annually
- Provide customers with self-service capabilities that let them manage their own billing plans, payment options and demographic information
- Reduce the potential for billing errors with centralised customer data that ensures you have a single version of the truth.
Global subscriber base support
- Manage multiple currencies and ensure that reports accurately reflect currency conversion with automated currency rate updates
- Accommodate multiple tax schedules for local taxes across subsidiaries, GST, VAT, consumption tax or general sales tax, and more.
- Boost efficiency and cash flow with automated renewals based on contract start and end dates
- Stack-rank customer renewals by such criteria as profitability, total license value, referenceability and more
- Simplify complex multiple contract renewals with co-terminus contract management
- Equip partners in multiple channels to effectively manage renewals for dedicated accounts.
Cross-Selling and Up-Selling
- Capitalise on sales opportunities with trigger-based alerts at renewal time or other events
- 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 customised recommendations for cross-sell and up-sell
- Promote cross-sell and up-sell features and options to customers via your website.