For software and technology companies, billing and revenue is generally derived from the following elements; perpetual licenses, subscriptions, maintenance (potentially usage and/or hardware) and services. These different elements each have distinct rules to trigger billing and recognize revenue in accordance to local governing regulations. Finance tends to have a good handle on managing the rules and triggers across most elements, albeit some of this work may be managed manually with spreadsheets.
In the SuiteWorld 2017 Retail keynote Evan Goldberg, NetSuite Executive Vice President of Development details the challenges confronting software companies, NetSuite’s own journey as a software company and how NetSuite is preparing software businesses for constant change, including the new SuiteSuccess for Software industry solution.
In his keynote for SuiteWorld 2017, Oracle NetSuite Global Business Unit Executive Vice President for Development Evan Goldberg details all the new features in NetSuite, including global expansion, industry solutions, omnichannel commerce, global supply chain automation, advanced bill of materials, time sheets in SRP, project profitability reporting, NetSuite for Agencies, NetSuite’s commitment to nonprofits, performance improvements, SuiteCloud platform enhancements, and new integrations between NetSuite and Oracle Planning and Budgeting.
In the opening keynote from SuiteWorld 2017,NetSuite Global Business Unit Executive Vice President Jim McGeever shares what’s next for NetSuite and the industry.
The three primary forces affecting software companies today are the demand for growth, evolving business models and regulatory changes, NetSuite SVP of Sales Marc Huffman said onstage at the software industry keynote at last week’s SuiteWorld 2017 conference.