Efficient dunning processes are crucial for managing overdue customer payments and maintaining a healthy cash flow. While NetSuite offers three primary ways to automate dunning, the Excelym Dunning Solution stands out as the most user-friendly, flexible, and scalable choice. Here’s a comparison of the available options:
Feature Comparison: NetSuite Dunning Letters Module vs Dunning via Workflow vs Excelym Dunning Solution
The Excelym Dunning Solution eliminates the complexities of the other approaches and offers unmatched flexibility. Here’s a detailed look at why it’s the better option:
| Option | Pros | Cons |
|---|
- NetSuite’s Workflow-Based Dunning
| - Allows for greater customizability with the use of SuiteFlow.
| - Requires in-depth SuiteFlow knowledge
- Dependent on saved searches and, thus, prone to errors
- Time-consuming to manage
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- NetSuite’s Dunning Letters Module (Native Dunning Solution)
| - Unlike standalone dunning solutions, the NetSuite Dunning Letters module is natively built into the NetSuite ecosystem.
| - Limited customization. Not ideal for multi-language customer bases.
- Since it is bundled with other NetSuite products, costs fluctuate based on selected modules, user count, and customization, making budgeting challenging.
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- Excelym’s Dunning Solution
| - No SuiteFlow expertise required
- Easily adapts to growing business needs.
- Supports multi-language and custom communications.
- Integrated into NetSuite.
| - Requires implementation of Excelym’s solution
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Cost Comparison: NetSuite Dunning Letters Module vs Dunning via Workflow vs Excelym Dunning Solution
This section compares the cost approaches of the native NetSuite Dunning Letters Module, custom workflows, and the Excelym Dunning Solution to help organizations choose the best fit for their needs.
| NetSuite Dunning Thru Workflow (SuiteFlow) | NetSuite Dunning Letters Module | Excelym NetSuite Dunning Solution |
|---|
- NetSuite expert hourly rates (to build the workflow): $100-$250/hr
- Ongoing maintenance/modification hourly rates: $100-$250/hr
- For in-house builds, costs include the time and salaries of your internal team.
| - An annual subscription model, with pricing tiered by annual invoice volume.
- Costs start around $2,000 per year for lower volumes (e.g., up to 200 invoices) and can exceed $10,000 for higher transaction frequencies.
| - Offers a predictable subscription model with unlimited invoice volume. The Basic plan is $1,788 per year, and the Advanced plan is $2,388 annually.
- A minimal one-time implementation fee also applies.
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- The cost of setting up Implementing dunning processes through NetSuite workflows (SuiteFlow) primarily involves a one-time setup cost, which is highly variable. This cost depends on the hourly rate of the NetSuite expert or consultant you engage, influenced by their experience, geographical location, and the complexity of your specific dunning requirements.
- Furthermore, if you choose to build this in-house, you must factor in the time and salary of your internal team. Ongoing maintenance and any future modifications or upgrades to the workflow—necessitated by evolving business needs or NetSuite updates—will incur additional costs. These recurring expenses are similarly influenced by the expert’s availability, their hourly rates, and the complexity of the adjustments required, making it a potentially unpredictable cost structure over time.
| - The NetSuite Dunning Letters Module, an add-on suitelet, typically operates on an annual subscription model. Pricing tiers are often based on the volume of invoices processed annually. For smaller businesses with lower transaction volumes, subscriptions might start around $2,000 per year, covering up to approximately 200 invoices. However, for organizations with higher transaction frequencies, annual costs can quickly escalate to over $10,000, or even higher, depending on the specific volume thresholds and negotiated terms. It’s crucial for businesses to accurately forecast their invoice volume to select the most appropriate and cost-efficient tier.
- While this module offers a standardized solution, its features may be less customizable than a dedicated workflow, and exceeding predefined volume limits can result in additional charges or a mandatory upgrade to a more expensive plan.
| - Excelym offers a specialized dunning solution built for NetSuite, presented with a more predictable subscription model. The Basic plan is priced at $1,788 per year, while the Advanced plan costs $2,388 annually.
- A key differentiator for both plans is the inclusion of unlimited invoice volume, providing significant value and cost predictability for businesses of all sizes, eliminating concerns about escalating costs due to growth in transaction numbers. Beyond the core functionality, all Excelym plans comprehensively cover maintenance and support. This ensures ongoing service reliability, access to updates, troubleshooting assistance, and dedicated support, acting as a built-in warranty for the solution. Additionally, there is a minimal one-time implementation fee, which typically covers the initial setup, configuration, and any necessary training, making the overall cost structure transparent and easy to budget for.
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Final Thoughts
Choosing a solution with tiered pricing options, minimal upfront costs, and reliable ongoing support can provide long-term reliability and value. Additionally, considering solutions that offer transparent cost structures and include key features like updates and troubleshooting assistance will streamline operations and minimize potential disruptions. These factors combined make it easier to maintain financial health while managing transaction complexities effectively.
The Excelym Dunning Solution is perfect for businesses wanting to streamline dunning without technical headaches. Its flexibility, user-friendliness, and robust design help businesses scale efficiently and optimize accounts receivable.
