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Increase Company Valuation with NetSuite Simplified Recurring Billing

Increase Company Valuation with NetSuite Simplified Recurring Billing

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Thriving businesses can drive many advantages to their key operations with recurring revenue business models. For instance Software as a Service or subscriptions like NetSuite Cloud Accounting help business administrators steer many advantages over the more common transactional sales model.

Frequency, Complexity, and Inefficiency with Recurring Billing

  • Unlike conventional billing, recurring revenue business represents multiple transactions billed at regularly recurring intervals over an indeterminate time frame. 
  • There are more frequent customer billings in this model, often monthly. This increases total billing volume, meaning more work for accounts receivables.
  • Recurring revenue business’s pricing strategy complicates the billing process and revenue recognition.
  • Both the quantity consumed and the rates charged may vary from one month to the next. Hence, billing customers for time or usage is a bit challenging.
  • As billing needs to reflect start and end dates, it gets complicated to offer promotional discounts and trials.
  • Manual intervention to manage recurring billing impacts business growth and performance.
  • It is extensively time consuming and labor intensive to review a wide range of customer accounts every month and calculate charges every month.
  • With the expansion of the customer base, the company is forced to get more staff to handle the additional billing volume. This additional staffing increase operating costs and, it is unsustainable in a competitive labor market.
  • Keeping data in spreadsheets, rather than the accounting system like NetSuite ERP accounting software, makes it next to impossible for business administrators to get an accurate, real-time view financial performance.

The best and most fruitful way to overcome these challenges is by automating recurring billing. Automation simplifies the billing process, helps save time, and ensures accuracy by eliminating manual tracking, and rate calculations. An automated billing solution like NetSuite Accounting Software also keeps customer data, pricing and other critical information in one, integrated place. 

Automate Recurring Billing with NetSuite

With the deployment of such an efficient and inventive billing solution at a standard NetSuite Accounting Software Price, businesses can witness improved data quality and financial visibility. NetSuite makes billing operations simpler, delivers real-time visibility into billing, and financial activity across areas like monthly recurring revenue, total contract value, and customer churn.

  • Right from consolidated invoicing, to automated rating processes, to support for multiple pricing models, NetSuite Cloud Accounting provides transparency around all billing activities. 
  • It comes with flexible options to help businesses make a choice of billing subscriptions as either one-time charges or recurring fees, either in advance or in arrears. 
  • By leveraging the core capabilities of its multiple rating models, companies can create subscriptions that capture setup fees, license counts, and variable consumption in a single step. 

NetSuite customers already know the productivity benefits of automating standard accounting tasks. If the finance team is using other applications to manage recurring billing, there is still plenty of opportunity to increase efficiency. Here, connecting with an acclaimed NetSuite ERP Solution provider can help these businesses drive performance and ensure elevated growth figures. 

As an accredited NetSuite ERP solution provider, we have assisted many businesses saves billing time by automating additional processes and improve visibility by ensuring critical financial data is managed in an integrated place.

If you want to scale up your accounting process or automate billing via NetSuite Accounting Software, write to us at info@netsuiteexpert.in   Or
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