netsuite 300x244 Netsuite Automates Renewal ManagementNetsuite, a leading provider of cloud based ERP announced this morning the release of a new version of Netsuite Software Company Edition. The new version will help software companies tackle the challenges of managing revenue models and in particular the complex processes of recurring revenue management streams. The new software limits customer churn and allows software companies to maximize their revenue from existing licenses. It also insures long-term health of the company with real-time visibility and automation of the management of renewals, billing and contract management.

According to Jim McGeever, NetSuite COO,

“There’s no other product on the market that combines the productivity and cost-savings benefits of cloud computing with the deep functional capabilities software companies need to run efficiently and scale.”

NetSuite has made significant steps to be an industry leader in cloud-based ERP suites and is ahead of SAP and other competitors in many aspects. NetSuite enables companies to manage key business processes like ERP and CRM with high ease of use, cost efficiency, and flexibility.

Features:

  • Automated Renewals
    • Automate renewals based on pre-defined windows, reducing manual labor
    • Execute perpetual or term-based license renewals
  • Multi-Contract Management
    • Co-terminate multiple transactions into a single contract
    • Maintain multiple contracts as necessary
  • Uplift and Discount Management
    • Automatically uplift contracts based on a price book or across the board
    • Flexibly implement discounts and uplift at customer or contract levels
  • Multi-Channel Support
    • Track and manage multi-tiered sales interactions
  • Real-Time Visibility
    • Track renewal tasks as they are automatically added to dashboards
    • Monitor KPIs of key metrics, trends and priority items
    • Drill down to detail data for interactive reporting
  • Revenue Recognition
    • Provides flexibility to separate revenue recognition from billing milestones, a critical requirement for some companies to meet new revenue recognition guidelines
  • Cross-Selling and Up-Selling
    • Capitalize on sales opportunities with the automatic creation of renewal transactions based on a pre-defined window
    • Identify and address customers at risk of canceling licenses or reducing scope
    • Leverage rich customer transaction histories identify new opportunities within your client base
    • Fine-tune commissions and incentive compensation based on quotas, sales, quantity and more
    • Configure automated and customized recommendations for cross-sell and up-sell
    • Promote cross-sell and up-sell features and options to customers via your website
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