NetSuite 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.

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. 

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.

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