NetSuite Advanced Revenue Management is a robust software solution that helps businesses gain greater visibility and control over their complex revenue processes. As a NetSuite consultant at SuiteDynamics, I often recommend this product to clients across industries who need to optimize their entire order-to-revenue cycle.
In this comprehensive blog, I’ll provide an in-depth look at NetSuite Advanced Revenue Management, who can benefit most from this system, the key capabilities it delivers, and why SuiteDynamics is the ideal implementation partner to unlock its full value.
Who Needs Advanced Revenue Management?
Advanced Revenue Management is purpose-built for medium to large organizations with intricate revenue workflows, recognition requirements, and financial compliance needs. Typical users include:
• Public and private companies in asset-intensive industries like software, manufacturing, media services and more
• Companies with multiple product lines, revenue streams, billing models, and revenue types
• Organizations preparing for IPO or adhering to standards like ASC 606 and IFRS 15
• Businesses with complex recurring billing for subscriptions, usage, timesheets and more
• Companies with a global customer base and multi-currency transactions
The greater the complexity of an organization’s revenue operations and recognition rules, the more critical it becomes to have an automated, comprehensive system like Advanced Revenue Management. It’s an especially good fit for organizations processing over $500 million in annual revenue.
Key Capabilities and Benefits of NetSuite ARM
Flexible, Automated Revenue Recognition
The #1 capability Advanced Revenue Management delivers is automating intricate revenue recognition requirements. The system adapts to support:
• Multi-element arrangements: Recognize revenue independently across multiple products, services, or deliverables
• Percentage of completion: Recognize revenue periodically based on project milestones or percentage complete
• Milestone billing: Tie revenue recognition directly to completion events
• Residual recognition: Recognize ongoing revenue streams over contractual periods
• Subscription billing: Recurring revenue recognition based on billing cycles
• Time and materials: Flexible revenue allocation by timesheets, expenses and more
This level of flexibility is invaluable for meeting the latest financial compliance standards like ASC 606 and IFRS 15. It reduces non-compliance risk and prevents revenue distortions or leaks.
End-to-End Revenue Process Connectivity
Beyond revenue recognition, Advanced Revenue Management centralizes and connects critical interconnected revenue-impacting processes:
• Configure complex pricing, billing and invoicing rules
• Streamline quoting, proposals and contract renewals
• Automate invoice and billing creation and delivery
• Support flexible recurring billing cycles and models
• Maintain global tax and regulatory compliance
• Prevent revenue leakage with fraud management
• Embed commissions and incentives management
By bridging siloed processes across sales, billing, collections and accounting, Advanced Revenue Management delivers an unprecedented level of visibility and control across the order-to-revenue cycle. This enables the accurate revenue projection needed to optimize cash flow and business performance.
Powerful Analytics and Reporting
Embedded analytics and pre-configured reports allow revenue managers to deeply slice and dice their financial data to uncover trends, anomalies and insights. Easily compare actual revenues against targets, review performance by region, product line, contract type or other dimensions, and share insights with stakeholders to drive informed decisions.
Reduced Risk and Costs
Between its flexible revenue automation, seamless process connectivity and real-time visibility, NetSuite Advanced Revenue Management significantly de-risks financial operations. Companies reduce regulatory non-compliance risk, enhance internal controls, cut revenue leakage, accelerate financial closes and contain overhead costs.
By transitioning from disjointed spreadsheets and manual processes, Advanced Revenue Management delivers a unified revenue management hub that pays for itself in the first year.
Why Choose SuiteDynamics as Your Implementation Partner?
As a long-standing NetSuite partner, SuiteDynamics knows firsthand how impactful Advanced Revenue Management is for complex organizations. Over the past 15 years, we’ve helped implement NetSuite for over 800 enterprise customers globally across 25+ industries.
When it comes to unlocking maximum value from Advanced Revenue Management, SuiteDynamics brings proven expertise and best practices:
• Deep NetSuite Expertise: Our NetSuite consultants average 10+ NetSuite certifications
• Industry Specialization: We customize Advanced Revenue Management to the unique needs of your vertical
• Best Practice Insights: We embed revenue management best practices tailored to your business
• Global Capabilities: With offices in 20 countries, we specialize in complex global deployments
• Accelerated Time-to-Value: Clients achieve 2-3x ROI within first 18 months post-implementation
Interested in learning more? Contact SuiteDynamics to schedule a free consultation with a NetSuite revenue management specialist. We can assess your current revenue processes and demonstrate exactly how Advanced Revenue Management can help you overcome challenges to drive new efficiency, insights and growth potential.
