NetSuite Advanced Revenue Management

Revenue Standards –Upcoming Changes (ASC 606)
The need for change to revenue management is being driven by FASB ASC 606-10-15-2 through 15-4 (commonly referred to as ASC 606), which effect all entities that contract with customers for the transfer of goods and services or other nonfinancial assets. The standard has outlined a basic process for identifying how revenue should be recognized.

With these new revenue recognition requirements, right around the corner, the highly decorated and experienced team at Explore Consulting is prepared to assist your organization with all your revenue management needs. Our certified consultants not only understand the upcoming changes, but they can assist you with implementing these complexities to be managed efficiently within your NetSuite environment.

NetSuite Advanced Revenue Management Overview

Revenue Management Simplified with NetSuite

Effectively manage your revenue and stay compliant with ease.

Report Revenue with Confidence and Accuracy

NetSuite's revenue recognition management solution helps companies comply with accounting standards and report financial results in a timely manner. Whether your business conducts sales transactions that consist of products or services, or both, and, whether these transactions occur at a single point in time or across different milestones, NetSuite's revenue recognition solution will help you schedule, calculate and present revenue on your financial statements accurately. Automate revenue recognition with financially intelligent capabilities to report results in accordance with accounting standards.

Maximize the Potential of Your Recurring Revenue Streams

A predictable, recurring revenue stream can make or break a company in today's economy—but to manage it effectively, sales, service and finance must collaborate and work seamlessly. NetSuite's recurring revenue management solution integrates all your front- and back-office processes for your subscription-based business. You'll always have a complete, real-time view of your customers and their interactions. Improve customer retention and watch your business grow as existing customers renew and new customers get acquired.

NetSuite Recurring Revenue Management

Automate Subscription and Maintenance Billing, Drive Renewals and Monetize Existing Customers. If you manage recurring revenue streams such as subscriptions and maintenance, you’re facing several challenges. Minimizing the cost of acquiring new customers, closely monitoring their satisfaction to ensure that they renew, and capitalizing on opportunities to increase customer profitability. Your revenue recognition and compliance processes must be watertight, and NetSuite provides the critical end-to-end functionality you need to meet the challenges of a recurring revenue business model.
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How it Works

What is NetSuite’s approach to automating Revenue Recognition?

What does the process look like in NetSuite?

NetSuite made the decision to get ahead of the adoption timeline and created the Advanced Revenue Management (ARM) Module to address the new revenue standards including VSOE, ESP and Fair Value Pricing. The Advanced Revenue Recognition process flow will allow for the automation of many manual processes when using standard revenue management.

Where it Begins

Revenue Recognition begins with the assignment of a Revenue Rule to a specific Item (Product). Once the Revenue Rule is assigned to a product, that product is then selected on a Sales Order. The Sales Order dates and information, along with the revenue rule tied to the project, are what kicks off the remainder of the process.

There Are Three Steps

Revenue Elements created are tied to Revenue Arrangements and ultimately a Revenue Plan. These 3 Steps are automated in NetSuite, which means that Revenue Rule and Item Creation are the primary point of failure in the process. If Revenue Rules are appropriately assigned to the Items (Products) during configuration the process will run smoothly with a high degree of automation.

Why Partner With Explore?

Experience. Qualifications. Accolades.

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Our Experience
  • 15+ Year NetSuite Reseller and Solution Provider
  • 16+ Year NetSuite Customer
  • Top-5 NetSuite Reseller Since 2011
  • 27 NetSuite Awards
  • Over 1000 NetSuite Clients
  • Largest and Most Experienced NetSuite Reseller and Solution Provider in the Northwest
Our Certifications
  • Certified NetSuite Implementation Consultants
  • Certified NetSuite SuiteCommerce Developers
  • Certified NetSuite Advanced Revenue Management
  • Certified SuiteCommerce Advanced Authority Agency
  • Certified SuiteCloud Developers
  • NetSuite SuiteCommerce Digital Agency Partner
  • NetSuite SDN Partner
Our Awards
  • NetSuite SuiteCommerce Partner of the Year 2016
  • NetSuite Partner of the Year - Americas 2011 & 2014
  • NetSuite Presidents Club 2011-2016
  • NetSuite 5-Star Award 2011-2017
  • NetSuite Star Award 2004-2016
  • CRN Next Gen Top 250 2011-2015
  • Accounting Today Technology Pacesetter 2011
  • Accounting Today VAR 100 2013, 2015
  • VAR Star Award 2010-2014
  • BSI Top 100 VAR 2010-2015

Happy Explore Clients Are Our Priority

A year ago we were working with the Explore team on understanding what NetSuite could do for our company and weighing our options on how best to proceed. Flash forward a busy 12 months and we are live thanks to a Herculean effort from your whole team.

Andrew Perlgut, Director of Data & Information Systems,
Murray's Cheese

We selected Explore Consulting based on a superb reputation, domain expertise and a very reputable background in driving eCommerce initiatives towards success. It was quite challenging to find a provider that could integrate our brand image with our operational demands - Explore's expertise and prof[...]

Carla Hukee, Brand Manager,
Niner Bikes

For four years Explore Consulting has taken care of us as a NetSuite customer. Though we're not their largest client, they've treated us as if we were. They understand the problems like IT people but think like business people. You don't find that very often.

Ryan Stoulil, General Manager,
Wolfgang Puck Coffee

Some of Our Clients

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