NetSuite for SaaS: Addressing Fast-Changing Business Needs for Fast-Paced SaaS Businesses

Software products and services have become the essentials in running most companies around the globe. Since market demands, in the internet age, could come from anywhere, customers can come from different economies, cultures, and all with different expectations, strategy approach, mode of delivery, etc. Managers in the SaaS industry struggle to cope with all these business challenges while making sure that other aspects such as employee/resource, accounting, and overall administration are running smoothly.
NetSuite through its countless successful implementations already understands the problems that plague this industry. Equipped with advanced knowledge of software and internet business challenges, NetSuite knows well how to help companies in fast-changing business landscapes that are struggling with the following:

• Outdated and inefficient financial close processes
• Delayed performance metrics input
• Unsynchronized complex order, billing, and revenue recognition processes
• Global-scale business operations management
• Difficult and inconvenient financial reports generation
• Meticulous audit processes

Moreover, another concern is how to constantly scale and adapt to changes brought by these challenges while finding the time and resources to fix back-end systems. Companies need a tried and tested solution that effectively helps in providing a business software architecture that can be deployed in the cloud in a span of 3 months or less. All these are possible without compromising the delivery of specifically designed processes, activities, and systems giving way to a wide set of options of pre-configured solutions and methodologies (e.g. detailed workflows; pre-configured functional roles; dashboards, and KPIs). This approach allows customers to set a strong business foundation.

The Five Essentials to Building a Strong Business Foundation that NetSuite Supports Out-of-the-Box

NetSuite definitely delivers the needed expertise and mechanism to enable customers to scale and grow their business seamlessly. NetSuite has a phased approach which it calls “the Proven Path to Success”. The following are NetSuite’s 5 essentials to building a strong business foundation:

1. Real-time visibility to metrics that matter
2. Effective automation for running the critical finance and accounting processes to increase accuracy and efficiency of the financial close processes
3. Synchronization of complex billing and revenue management flows and automation of subscription and renewal processes
4. Support for subsidiaries and currencies for global operations
5. Developing innovative strategies that help maximize customer lifetime value such as leveraging predictive analytics

NetSuite delivers a number of roles that are pre-configured to ensure rapid adoption and quick speed of implementation:

• CFO
• CEO
• Accountant
• Controller
• Renewals Manager
• Billing Manager
• Purchasing Manager
• AP Analyst
• Revenue Manager
• IT Manager
• Operations Manager
• AR Analyst
• Sales
• Administrator

NetSuite intimately knows and understands the pain points discussed earlier in the SaaS industry. It also has a proven track record of what the needed solutions are to address those pain points and build a strong business foundation. Therefore, not surprisingly, NetSuite is the marketing leading solution to run SaaS enterprises to effectively and optimally address their business challenges and help them scale and grow.