Here's why NetSuite is the best application for services businesses.
One Application to Manage Your Services Business. Services firms typically cobble together and then juggle several different business applications—and numerous spreadsheets—to manage the intricacies of the services industry. It's time to stop wasting precious resources managing multiple "silo" systems, NetSuite is the one intelligent, integrated, customisable application to unify your client management and business processes, increase visibility for better decision making, and extend processes to your clients for enhanced collaboration.
NetSuite manages
the end-to-end lifecycle business processes
in one system with marketing from suspect to
lead, sales from prospect to proposal to contract,
project tracking and billing throughout service
delivery, support for products and services
sold and upsell/add-on intelligence to ensure
ongoing relationships with valued clients.
With complex
billing and revenue recognition, NetSuite manages
the intricacies of services financial management.
One integrated
system (ERP+CRM+Ecommerce) delivers a single,
real-time view of the client across all projects,
departments and locations.
NetSuite is
designed from the ground up to run a services
business.
NetSuite's
on-demand model provides lower cost and anytime/anywhere
access.
Client-facing
processes extend self-service via Client Portal.
NetSuite is
easily extended through SuiteFlex customisation
and Web services.
The Ultimate Business Dashboard to Manage Your Client-centric Business. From senior executive or partner, through project manager, to technical consultant, NetSuite gives you role-specific Dashboards for real-time visibility into services forecasting, revenue, status of projects, project alerts, client support incidents and more. Dashboards help service-based companies keep a finger on the pulse of their business freeing individuals to focus on the client to garner their business, deliver on promises, manage the engagement for profit and maximise client service.
KPIs, with tailorable period comparisons and out-of-tolerance notifications, give you a real-time, at-a-glance view of your projects and your company's performance.
Real-time visibility of projects status, utilisation, realisation rates, support issues and more.
Saved searches give users rapid, repeatable adhoc reports right on their dashboard.
Calendars for individual and group scheduling.
RSS content feeds from your choice of providers.
Real-time updates, direct drill down to greater detail and transaction management directly from the Dashboard.
The Best CRM for Services Companies. 4. CRM can make or break a services company, and a top analyst firm recently ranked NetSuite CRM services #1 in Sales Management, Forecasting, Opportunity Management and Dashboards. Why? Unlike standalone CRM applications, NetSuite CRM services is seamlessly integrated with financials and your back-office systems, giving you a 360 degree view of the client.
One integrated system (ERP+CRM+Ecommerce) delivers a single, real-time view of the client across all departments and all locations.
With closed-loop marketing, you can see revenues, costs and ROI for all campaigns in real-time.
NetSuite manages the complete lead to order process in-system.
NetSuite' Service Item Catalogue lets you organise your portfolio of service offerings, facilitating the sales process. First time prospects to preferred clients — you can provide standard pricing to target segments and personalised pricing for recurring and contracted services. The Service Item Catalogue also manages discounting rules for accounts contracting volume or multiple services.
NetSuite automates the complete order to cash lifecycle with integrated order management serving as the critical pipeline between client facing CRM, PSA and back office ERP and financials. Integrated order management integrated with Advanced Billing allows you to accurately account for projects. It also provides histories for inquiries, support and upsell and cross-sell of products and services.
You have visibility into multiple forecasts, such as calculated, upside case, base case, downside case, and override, enabling you to easily, accurately triangulate forecasts.
NetSuite
is the only Web-based CRM system to offer commissions
tracking, which is critical for motivating sales
teams through real-time visibility, reduced
errors, and accurate, timely payment. Managed
in-system, integrated commissions reduce overhead
in sales organisations, and eliminates shadow
tracking by sales representatives.
Client portals provide password protected self-service access to project history, outstanding invoices, and support which provide greater service at lower cost.
Automated upsell and cross-sell functionality improve the lifetime value of clients through add-on services sales.
Complete Financials with Advanced Billing. Financials are complex in any industry and they are quite complex in the services industry. The stumbling block for most services companies is managing billing schedules, and ensuring compliance. Few financial packages provide these tools, forcing companies to manage these complexities offline in spreadsheets or in third party standalone packages. With NetSuite you have one financial system that manages accounting and complex billing —so there's no more double entry.
NetSuite
automates complex billing schedules and gives
you complete visibility into future billings
and cashflow. Once contract terms are set up
in NetSuite, invoices are automatically created
based on those terms. Advanced Billing supports
multiple billing models including milestone,
time and expense, percent complete and fixed
fee more.
NetSuite
supports broad revenue recognition capabilities,
important to many services companies, including
percent complete allowing companies to recognise
revenue in conjunction with the completion of
a project. NetSuite also supports Sarbanes-Oxley
compliance with Section 404. Software companies
can even manage both GAAP revenues and billings
separately—a critical operation for most
software companies.
NetSuite
lets you recognise deferred payments within
regulations and guidelines, all within NetSuite
financials. Deferred revenue reports deliver
detailed data on both posted and forecasted
revenue. NetSuite gives you easy access to detailed
historical and future views for more accurate
business management and planning.
NetSuite
makes it easy-to- manage sophisticated pricing
models. NetSuite supports standard, volume,
promotional, client, industry specific pricing,
and more in an easy-to-manage matrix.
NetSuite
takes the guess work out of revenue forecasting.
With all aspects of revenue management managed
in NetSuite, and not offline in spreadsheets
and third party systems, your revenue forecasts
will be based on consolidated, real-time data
for accurate, confident forecasting. Unlike
standalone CRM solutions, NetSuite lets you
see revenue from both your sales pipeline and
existing client base.
Business
applications sold to small and midsise firms
rarely provide budgeting tools for the real-world
financial planning complexities they face. NetSuite's
budgeting tools address those needs with multiple
budgets for tracking different scenarios, the
ability to easily create new budgets from existing
budgets or even from actual results and more
customisable budget reports. And in order to
provide maximum flexibility, firms can work
on their budgets offline in a spreadsheet and
import the results into NetSuite.
As a single
application with a complete set of audit trails,
NetSuite makes it simpler to maintain compliance
with GAAP, FASB, SEC, and AICPA regulations
and standards. NetSuite facilitates Sarbanes-Oxley
Section 404 compliance by supporting internal
controls, providing accurate, timely reporting
and supporting individual accountability through
a complete audit trail of all processes and
every transaction.
NetSuite
accounting includes full General Ledger, Accounts
Payable and Receivable, multiple budgets, multi-currency,
online bill pay, allocations, and multi-company
consolidations all with real-time reporting.
Now you can manage your entire financial entity
in one system. NetSuite's integrated financial
management greatly improves the productivity
of finance departments in service companies.
Greater efficiency from integration, real-time
tracking and reports, and auditing tools reduce
the overhead that typically burdens services
companies.
NetSuite
lets you move from manual, paper-based purchasing
to lower cost, higher control automated purchasing.
NetSuite streamlines purchasing saving you money
that goes straight to your bottom line.
NetSuite
provides standard reports to track your project
and firm's financials. Streamlined customisation
quickly puts the precise information you need
at your fingertips to make smarter, faster business
decisions.
NetSuite
is a process-centric application that operates
in real-time. It has been built from the ground
up as a single integrated applications that
is highly modular. It meets the specific needs
of service companies large and small.
Integrated Back-Office with Services-Specific Features. NetSuite lets you manage the complex back-office within one system.
Self-service, paperless expense reports with approval workflow and optional payment.
Self service capabilities empower your employees and reduce your costs. NetSuite includes purchase requests, payroll and payroll integration, as well as a self-service Employee Center.
Real-time business processes and business intelligence across the business and partners.
Professional Services Automation. Services firms typically perform project management and administration in standalone software packages including Microsoft Project, Excel and homegrown tracking and document management systems. This creates silos of information, error-filled, laborious administration for inefficiency and frustration to both staff—and your clients. NetSuite integrates your project tracking and administration seamlessly with your front and back office applications for clear lines of visibility within and across projects for internal teams and for your clients. This results in greater collaboration, cost efficiency and client satisfaction.
NetSuite Services Company Edition lets companies manage multiple types of projects including time and materials, fixed price, and cost plus projects. Teams can create project jobs and link them to specific customers. You can even create sub-jobs. All project job records include start dates, estimated end dates, percentage of work completed, actual end dates, as well as all income and expenses associated with each project. You can view time budgeted versus time spent as well as team utilisation. NetSuite also organises tasks, calls and events, linking them to specific projects. Information regarding clients is managed in one place so resource tracking is complete and real-time for ever-improving client service and can be segmented and leveraged for smarter client intelligence.
NetSuite automates complex billing schedules and gives you complete visibility into future billings and cashflow. Once contract terms are set up in NetSuite, invoices are automatically created based on those terms.
Self-service, paperless expense reports with approval workflow and optional payment.
Delivering powerful group calendaring capabilities, NetSuite lets users share calendars, develop schedules per project activity, and monitor assets, all of which helps business processes flow more smoothly. Individuals are empowered to manage their schedules more effectively, while managers have full visibility into the activities of their employees on an individual or per project basis.
NetSuite provides document management that electronically organises and stores content on a per-client, project, or aggregate basis. Additionally, it can be published internally via your Intranet and externally to your Web site or client and partner centers. All content is based in a central File Cabinet where shared folders and sub-folders can be set up for a plethora of file types including Word, Excel, PowerPoint, PDF, and many more. Storing these documents online rather than on the computers of numerous employees means that access to them can be restricted as appropriate on a per client, per project, or department basis. Personnel with the necessary access rights can then work on them from multiple locations such as home, another office, the client site or even a hotel when traveling. The security of NetSuite applications is safer than e-mail, and the File Cabinet even automatically logs when the file is modified and by whom so a complete audit trail is always maintained.
NetSuite provides standard reports to track your project, your portfolio of projects and the business management of your firm. Streamlined customisation quickly puts the precise information you need to make smarter faster decisions at your fingertips.
Deep Support Functionality. Quality of services and support can make or break a services company—both early on during implementation and over time for client satisfaction and retention. High levels of service can be costly, and that's why NetSuite gives you the tools and a choice of channels to provide the right level of service to the right clients at the best cost.
Superior
multi-channel service with all client interactions—live,
online, e-mail and in-person—are tracked
to a single client record.
NetSuite's
self-service Client Center gives clients low
cost, high availability service 24/7 around
the globe.
Easy Customisation and Integration. NetSuite's SuiteFlex customisation and extension technology platform provides growing services businesses with a flexible, powerful and extensible business management solution.
Easy-to-use
user-defined scripts provide unprecedented workflow
customisation.
Easy-to-use, point-and-click tools provide unlimited personalisation, configuration, process validation and vertical tailoring.
SOAP standards-based Web service APIs to extend NetSuite to other systems, third party vertical applications, or build add-on capabilities.
Custom object, tab and code capabilities allow for entire applications to be built and hosted within NetSuite, providing all the benefits of a robust application architecture and on-demand hosting efficiencies.
Unique on-demand template cloning capabilities together with SuiteFlex Customisation, SuiteFlex Web Services and SuiteFlex AppBuilder facilitate a library of industry verticals that can be further customised by individual clients to fit their specific business requirements.
Amasingly Affordable. NetSuite provides dramatic cost savings relative to other combinations of front-office, professional service automation and back-office applications, including GreatPlains with Salesforce.com or MSCRM, OpenAir and Quick Arrow, and more. To learn more about what NetSuite can do for your services company contact us now.
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