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NetSuite Revenue Management is a powerful tool that automates revenue recognition processes, ensuring compliance with standards like ASC 606 and IFRS 15. It provides businesses with the flexibility to manage complex revenue arrangements, streamline workflows, and gain real-time visibility into revenue performance, enabling better decision-making and financial accuracy.
NetSuite automates revenue allocation, scheduling, and recognition based on predefined rules. This ensures compliance with accounting standards and eliminates manual errors, saving time and improving accuracy.
The system supports the management of complex revenue arrangements, including multi-element contracts, subscription models, and bundled products or services. Revenue is allocated based on fair value across performance obligations.
Customisable revenue schedules allow businesses to recognise revenue over time or at a point in time, aligning with the terms of customer agreements and accounting rules.
Seamless integration with NetSuite’s Advanced Billing module ensures alignment between billing processes and revenue recognition, simplifying the management of deferred and earned revenue.
NetSuite provides dashboards and reports that offer real-time insights into deferred revenue, recognised revenue, and future revenue projections. This transparency supports better forecasting and planning.
The system handles contract modifications, such as renewals, cancellations, and changes to terms, ensuring accurate revenue allocation and compliance throughout the contract lifecycle.
NetSuite Revenue Management supports multi-currency, multi-subsidiary, and multi-jurisdiction operations, ensuring compliance with local and global accounting standards.
Built-in automation ensures adherence to global accounting standards, reducing the risk of non-compliance and audit issues.
Automating revenue recognition processes eliminates manual errors, ensuring accurate financial reporting and reducing the need for rework.
By streamlining complex revenue arrangements and aligning billing with revenue recognition, businesses save time and resources, allowing finance teams to focus on strategic activities.
Dashboards and reports provide immediate access to revenue metrics, enabling businesses to track performance, identify trends, and make data-driven decisions.
NetSuite Revenue Management adapts to growing businesses, supporting increased transaction volumes, complex revenue models, and global operations.
NetSuite Revenue Management transforms the way businesses handle revenue recognition by automating processes, ensuring compliance, and providing real-time insights. Whether managing subscription models, bundled offerings, or multi-element contracts, the system enables organisations to streamline workflows and maintain financial accuracy.
For businesses looking to optimise revenue processes, ensure compliance, and gain better visibility into financial performance, NetSuite Revenue Management offers a comprehensive and scalable solution tailored to meet today’s complex accounting demands.
DWR is a multi-award winning NetSuite Solution provider with over 15 years of experience in helping our clients, select, solution, implement and maintain their NetSuite platform.