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The time for every ambitious startup to move away from their home grown IT infrastructure to a professional ERP solution. The effort for maintaining the home grown solution becomes just too risky and costly on the operational side.
A review of current IT infrastructure is mandatory. It is an internal task, owned by the management where a new target infrastructure has to be decided with an architectural focus. A high level definition of tasks and responsibilities for each component of the IT landscape. “Separation of concern” and “keep it simple” are mottos which give good guidance at this stage. Once the decisions have been made, action can be taken!
Whether your legacy systems include Excel, Quickbooks, Datev, Chargebee or others, we at Alta Via Consulting have experience to support you with data migration.
Subscription based businesses need a way to generate sales orders or invoices that accurately reflect pricing and consumption over a defined period. The cost of manually entering billing data, making changes to individual subscriptions and tracking customer usage quickly adds up. Finding a way to automate these processes is a priority, but how do you improve efficiency without impacting customer service?
See our previous contribution about NetSuite for SaaS companies here (https://altavia.de/en/netsuite-for-saas-companies-a-doag-story/)
● Implement standard and customer-specific pricing plans, including volume, tiered, and flat-rate models.
● Automate usage/consumption billing with a powerful rating engine.
● Manage individual subscriptions using flexible change orders.
● Seamlessly consolidate charges from multiple subscriptions.
● Streamline recurring subscription billing with automatic renewals.
● Multibook ability to report revenues in Local GAAP and IFRS.
Subscription management has become a critical aspect of business operations in today’s market. To effectively handle the complexities of subscription models, companies require robust tools that streamline processes without compromising efficiency. NetSuite emerges as a comprehensive solution offering operational benefits tailored to subscription management needs.
NetSuite’s core strength lies in its ability to automate and simplify billing processes. With customizable billing schedules and support for various pricing structures, NetSuite enables businesses to manage subscriptions with ease. This automation not only reduces manual workload but also minimizes the risk of errors, ensuring accurate and timely invoicing.
Furthermore, NetSuite’s subscription management module centralizes customer data, providing a unified view of interactions and subscriptions. This holistic approach allows businesses to track subscription lifecycle stages, from acquisition to renewal, facilitating better decision-making and improving customer satisfaction.
In addition to billing and customer management, NetSuite excels in financial compliance and reporting. The platform’s built-in revenue recognition capabilities ensure adherence to accounting standards such as ASC 606 and IFRS 15. By automating revenue recognition processes, NetSuite helps businesses maintain compliance while reducing the burden on finance teams.
NetSuite’s scalability is another advantage for businesses looking to optimize subscription management processes. Whether scaling up operations or expanding into new markets, NetSuite adapts to evolving business needs, providing a flexible solution that grows alongside the organization.
Overall, NetSuite offers a streamlined approach to subscription management, focusing on operational efficiency rather than sales-driven features. By automating billing, centralizing customer data, ensuring financial compliance, and offering scalability, NetSuite empowers businesses to manage subscriptions seamlessly, ultimately driving operational excellence and long-term growth.
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