NetSuite SuiteBilling

Q: What is NetSuite Billing?

NetSuite’s billing solution, SuiteBilling, automates invoicing operations. Combine flat, tiered and consumption-based options with promotions, volume discounts and customer-specific rates for maximum flexibility. Support for multiple pricing models and complex rating scenarios make it easy to generate accurate invoices. And, SuiteBilling lets you manage the entire subscription lifecycle: Modify subscriptions and prorate billing, consolidate multiple charges on a single invoice and auto-generate renewal invoices to improve retention.

Subscription management and billing

What is NetSuite SuiteBilling?

NetSuite SuiteBilling simplifies and automates the management and billing of recurring subscriptions. Combine flat, tiered and consumption-based options with promotions, volume discounts and customer-specific rates for maximum flexibility. Support for multiple pricing models and complex rating scenarios make it easy to generate accurate invoices. And, SuiteBilling lets you manage the entire subscription lifecycle: Modify subscriptions and prorate billing, consolidate multiple charges on a single invoice and auto-generate renewal invoices to improve retention.

Improve Cash Flow

Inefficient manual billing leads to invoice errors that frustrate customers and delay payments. Automating the billing process means more accurate invoicing, which accelerates payments and improves cash flow.

Enduring Customer Relationships

Consolidated billing creates trust by displaying every charge on a single invoice, while customer-specific discounts drive repeat business and automated renewals reduce subscriber churn.

Ensure Revenue Compliance

Accounting for recurring revenue can be complex and time consuming. Now you can automate this process and manage revenue accurately and in accordance with the latest revenue recognition standards.

Under QuickBooks, customers were frustrated with multiple invoices, and billing was a lot of work,

Ian Larkin
Controller, CentralReach

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NetSuite SuiteBilling Benefits

Timely, Accurate Billing. A powerful rating engine and automated scheduling for consistent invoicing with fewer errors.
Maximum Flexibility. Multiple pricing and billing options to meet the needs of subscribers and the business.
More Efficient Billing Operations. Save time and increase efficiency by eliminating manual billing processes.
Easy Revenue Recognition. Bringing billing and revenue management together helps companies comply with accounting standards.

NetSuite SuiteBilling Features

SuiteBilling provides unparalleled control over billing and subscription management, with sophisticated pricing and rating models, flexible scheduling and automated invoicing — all built on the NetSuite platform.

Subscription Management

SuiteBilling supports subscription schemes from evergreen to traditional time-based, such as one- or three-year terms. Changes to subscriptions, such as upsell, downsell, suspend and terminate, are easily managed. Revenue leakage is reduced via automated renewals. Apply a percentage price increase automatically to a customer’s renewal pricing. Increases can be set during subscription creation or at renewal and are flexible enough to calculate percentage uplift at a line-item level.

Pricing Models

Support multiple pricing models, ranging from simple flat rates to complex volume and tiered scenarios with minimum and maximum thresholds. Apply standard or customer-specific pricing to maximize revenue.

Rating Engine

A powerful rating engine allows a combination of one-time, recurring and usage-based charges. Easily create subscriptions that capture setup fees, license counts and consumption on a single invoice.

Billing Schedules

Schedule future-dated, real-time and back-dated invoices. Automatically bill subscribers at the end of free trials or increase rates when discounts expire.

Change Orders

Easily respond to customer requests to modify their subscriptions. Upsell additional services, or downgrade customers to lower pricing tiers. SuiteBilling automatically prorates future invoices to ensure accurate billing.

Subscriber Self Service

NetSuite’s SuiteCommerce MyAccount portal gives customers secure account access — including the ability to manage their account information, view order history, modify subscriptions and pay invoices.

Recurring Revenue Recognition

NetSuite Revenue Management helps companies comply with accounting standards for ASC 606 and IFRS 15 compliance and report financial results in a timely manner.

Reporting

Real-time reporting provides easy access to billing and financial data, including monthly recurring revenue, total contract value and customer churn. Analyze revenue, pricing and consumption data across multiple dimensions to optimize the profitability of usage-based subscriptions.

SaaS Metrics

The SaaS Metrics Dashboard provides a single, easy-to-understand view of key metrics and a 12-month rolling forecast that projects revenue given your current customer base. Use the dashboard to track essential metrics like annual recurring revenue (ARR), monthly recurring revenue (MRR), and churn rate at an enterprise-wide, individual-subsidiary, or cross-subsidiary level. Drill down into metrics to understand the underlying data and see supplementary information.

Challenges NetSuite SuiteBilling Solves

Manual Processes. Increase efficiency with an automated billing solution embedded within NetSuite.
Complex Pricing Requirements. Support multiple pricing models, including flat, tiered and usage-based options; customer-specific and volume pricing; and combination plans.
Delayed Billing. Automatically invoice new subscribers after a free-trial period or increase rates when promotional discounts expire.
Change Orders. Easily add or remove services and automatically prorate charges to ensure accurate billing.
Lost Subscribers. Reduce subscriber churn and increase revenue by automating contract renewals.
Subscription Management. Improve customer satisfaction by giving customers easy access to view and manage their subscriptions.

Faster Time to Value

NetSuite has packaged the experience gained from tens of thousands of worldwide deployments over two decades into a set of leading practices. These practices pave a clear path to success and are proven to deliver rapid business value and get you live on NetSuite in a predictable timeframe. Intelligent, stepped implementations begin with sales and span the entire customer lifecycle, so there’s continuity from sales to services to support.

How Much Does NetSuite SuiteBilling Cost?

Companies of every size, from pre-revenue startups to fast-growing businesses, have made the move to NetSuite. Looking for a better way to run your business but wondering about the cost?

Users subscribe to NetSuite for an annual license fee. Your license is made up of three main components: core platform, optional modules and the number of users. There is also a one-time implementation fee for the initial set up. As your business grows, you can easily activate new modules and add users — that’s the beauty of cloud software.

SuiteBilling is available as an add-on module.

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