NetSuite for Software Companies
Streamline your software and SaaS operations with the world's leading ERP system.
Over 20 years of experience with happy software customers
NetSuite ERP - The complete solution for software companies
To remain competitive, software companies must be able to evolve and innovate in a constantly changing market. Here, the right ERP system can help the company grow globally and scale up the business to the next level. NetSuite ERP is an all-in-one scalable solution that integrates all important business processes and eliminates the need to have several separate systems. It streamlines the management of complex revenue models, supports global expansion and provides powerful analytical tools for better decision making.
Billing and revenue recognition are critical functionalities for software companies. Companies can effectively address these needs using NetSuite's SuiteBilling solution, complemented by the revenue management module that supports automated revenue distribution and accrual. At Staria, we often encounter software companies that have an existing billing solution, but lack a unified system for financial functions across the entire group. Consequently, we have extensive expertise in integrating various external billing solutions with NetSuite, including ChargeBee, Younium, ZoneBilling, and Zuora.
Read more about NetSuite and why it’s the #1 cloud ERP.
Challenges faced by companies in the software industry
Many software companies face challenges related to managing rapid growth and scalability. In addition, they often operate globally, which means they may encounter challenges related to different tax regulations, currency conversions and international accounting. Software companies also often deal with multifaceted revenue models such as subscription-based revenue and different billing methods, which can present further challenges.
To make informed decisions, software companies also need access to comprehensive and real-time data. Inadequate data management and analysis can be a major challenge for companies that want to optimise their operations.
Why is NetSuite the best solution for software companies?
All-in-one solution
NetSuite offers a fully integrated cloud-based solution that covers accounting, financial management, consolidated accounting, billing and revenue sharing. It eliminates the need to use several separate systems and enables unified and streamlined operations.
Management of complex revenue models
NetSuite has built-in capabilities to manage different revenue models, including subscriptions and ad-based revenue. This allows software companies to automate invoicing and reporting, saving time and reducing the risk of errors.
Scalability
NetSuite is designed to be scalable and can grow with the needs of the business. Whether it's an increase in user numbers, transaction volume, or new business units, NetSuite can be customised to support your company's growth.
Global business needs
NetSuite supports international operations by managing different currencies, tax rules and accounting standards. It allows software companies to expand globally without encountering barriers related to the business system.
Powerful analytical tools
NetSuite offers advanced reporting and analysis tools, providing businesses with real-time insights. This is critical for software companies that need to monitor and optimise their performance.
Efficient project management
NetSuite includes comprehensive project management tools that help software companies manage their projects from start to finish. This includes resource allocation, time tracking, and project accounting, ensuring projects are delivered on time and within budget.
Unlocking growth and efficiency with NetSuite
NetSuite provides strong financial management and reporting features, allowing software companies to track and analyse key metrics. Here’s how NetSuite helps monitor important figures:
MRR (Monthly Recurring Revenue): NetSuite can handle subscription-based invoicing and reporting, allowing monthly recurring revenue to be monitored.
Churn rate: By analysing customer data and revenue reports in NetSuite, you can identify lost customers and calculate the churn rate.
CAC (Customer Acquisition Cost): NetSuite can help you track and analyse sales and marketing costs in relation to new customers.
CLTV (Customer Lifetime Value): By using NetSuite to analyse customer revenue over time, you can calculate customer lifetime value.
ARPU (Average Revenue Per User): NetSuite can calculate average revenue per user by analysing revenue data relative to user count.
Cash Conversion Cycle: NetSuite offers functionality to monitor and analyse liquidity and capital usage.
Customer Engagement Metrics: Use data from NetSuite to analyse user growth, logins and functional usage.
Financial Reporting Metrics: NetSuite offers comprehensive financial reporting, including gross margin, operating margin and net income.
Interested in NetSuite for your software company? Book a free consultation with us!
Wolt's international growth journey powered by NetSuite
Discover how Wolt, a rapidly growing technology company, partnered with Staria to implement NetSuite ERP to support their international expansion and efficient business management across 20+ countries.
Europe's leading NetSuite partner
Staria's expertise lies in fast-growing companies, and many of our customers operate in the software industry. We have helped software companies, now unicorns, to become international superstars by providing the best business platform and services to support their growth. We can confidently say that we fully understand the growing pains and obstacles that software companies face in their daily operations.
To ensure the smooth operation of your business, we advocate for automating the management of subscriptions and renewals. Furthermore, integrating upselling and downselling functionalities should be straightforward. Staria can assist in enhancing your SaaS metrics and reporting, applying best practices within NetSuite. Our expertise extends to revenue reporting, with many of our consultants certified in Revenue Recognition. Additionally, we have developed numerous integrations between NetSuite and various external systems. Read more about how Staria can transform your business with NetSuite.
Staria is recognized as Oracle NetSuite Partner of the Year 2024
NetSuite best practices for software companies
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Why Should Software Companies Choose NetSuite as Their Business Solution?
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