NetSuite : Is Your Billing System an Enabler or a Deterrent?

Posted by Divya Ganesh, Senior Manager, Product Marketing, NetSuite

In the first episode of the billing blog trilogy, we identified three reasons why billing has emerged into a strategic business function. In the second episode, we examined how hybrid business models are becoming the new norm. The final question that begs to be asked is whether your current billing system is an enabler or a deterrent for the business?

At Oracle NetSuite, innovation is at the core of what we do and how we build. Billing is not a side-show or a siloed offering. We believe that billing belongs at the core of your business. NetSuite's unified billing framework underpins the entire suite and the recent emergence of billing as a strategic differentiator allows customers to take advantage of this approach.

SuiteBilling supports all the ways a business can bill their customers and enables them to be agile, innovate rapidly and profit in today's marketplace. For example, it enables businesses to maximize revenue by pricing products and offerings in innovative ways. Businesses can also optimize billing and related costs by curtailing the investments in human capital and minimize the risk of revenue recognition noncompliance by offering a billing framework that supports new accounting principles. Finally, this innovative approach to billing minimizes customer attrition by enhancing transparency and demonstrating the value delivered versus the cost.

The only comprehensive cloud solution on the market today, SuiteBilling synchronizes complex processes from order to billing to revenue recognition all within one system.

SuiteBilling encompasses four components:

• SuiteBilling Core provides a unified framework to connect transactions, subscriptions and projects to the billing engine, with seamless flow to core financials.
• Subscription Billing allows for the creation and management of subscriptions with full integration to advanced revenue management.
• Advanced Subscription Billing allows for the creation and management of complex, value based (usage) subscriptions with full integration to advanced revenue management.
• Advanced Rating allows for the creation and management of complex rating models, often coupled with high volume transactions.

The NetSuite universe of customers ranges from small to midsized companies, to ones that have grown and gone public and all the way to the Fortune 500. Its customers are some of the most disruptive in the marketplace today and they already have these innovative business models in place. They require a system that can handle their pace of growth and change, and they are already doing this on NetSuite.

Download a white paper to learn more from Oracle NetSuite about how billing can bring business agility.