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Recurring Revenue Management Software

Supplier: NetSuite

Maximise the potential of your recurring revenue streams.

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A predictable recurring revenue stream can make or break a company in today's economy - but to manage it effectively, sales, service and finance must partner closely.

NetSuite's built-in recurring revenue management capability is the only solution that's integrated with all of your front- and back-office processes. This means you'll get a complete, real-time view of your customers and all of their interactions with your company.

So you'll drive profitability by increasing billing efficiency and bolstering revenue recognition processes. You'll also improve customer satisfaction - increasing the number of customers who renew, upgrade and buy more services.

Benefits

  • Tailor customer billing processes to your business using NetSuite's built-in flexibility and sophisticated billing logic
  • Minimize errors and revenue recognition issues and eliminate the need for expensive custom integration
  • Support agile pricing changes to subscription plans in response to customer or market demand
  • Get a single real-time view of your billing operations globally and interact consistently with customers around the world
  • Ensure that your company can handle changing revenue recognition policies—or even recognize revenue over the term of the contract
  • Eliminate the risks that come with spreadsheet-based processes or immature financial systems
  • Drive customer 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, even allowing service functions to up-sell.
Key Features

Billings

  • Strong management of recurring revenue-based billing processes
    • Bill customers one time or on a recurring basis
    • Manage different payment terms, whether monthly, quarterly or annually
    • Bill in advance or arrears, and pro-rate partial months
    • Provide customers with self-service capabilities that let them manage their own billing plans, payment options and demographic information—allowing you to provide faster service and increase customer satisfaction, turning billing into a competitive asset.
  • Pre-built integration of billing processes with all back-office functions, including order management, accounts receivable and general ledger
  • Built-in customer relationship management (CRM) capabilities let customers sign up easily, allowing you to smoothly convert them from prospective customers to subscribers, no matter what the channel
  • Price and quote management capabilities:
    • Update Web sites quickly with new pricing
    • Effective-date new customer agreements
    • Update billing processes and prorate payments
    • Communicate to the sales and service team
    • Synchronize quote management processes and incentive compensation.
  • Global subscriber base support:
    • Multi-currency management with automated currency rate updates ensures reports accurately reflect currency conversion
    • The tax engine accommodates multiple tax schedules for local taxes across subsidiaries, GST, VAT, consumption tax or general sales tax, and more.
  • Built-in billing and revenue recognition functionality
  • Dashboards and reporting across all business functions—sales, service, finance and operations.

Renewals

  • 360-degree cross-functional view of customers through role-based dashboards
  • Centralized customer data ensures that you have a single version of the truth and reduces the potential for billing errors.

Cross-Selling/Up-Selling

  • Strong up-sell and cross-sell management features:
    • Sophisticated commission rules can be configured based on quotas, sales, quantity or more
    • Real-time insight into customers' past purchases
    • Automated up-sell recommendations.
  • Strong sales incentive compensation management to balance customer acquisition with up-selling/cross-selling and to enable the roll out of SPIFs and up-sell/cross-sell sales plans.

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