The software space is a rapidly growing industry, with specific accounting and operational needs. Supporting software organizations is a complex process that requires the ability to keep up with competitors, leverage opportunities for expansion, and integrate various systems for success.
Record to Report
- Journal Entries
AP Invoice to Pay.
- Vendor Management / Onboarding
- Vendor Bills & Approvals
- Vendor Payment Automation
- Payables Reporting
Order to Cash.
- Customer Mangement
- Item Management
- Order Entry
- Billing Schedules
- Revenue Recognition / Deferred Revene Management
Financial Operations. Financial Reporting.
- Banking / Treasury Management
- Financial Planning and Analysis
- Financial Reporting
- Real Time Dashboards
Our Software SuiteBundle is built directly into NetSuite to supplement the functionality needed to run a software business.
Implementation of this SuiteBundle can occur during or post NetSuite base implementation.
- Financial Reporting – Real-Time Dashboards, KPI Metrics, Segment-Based Visibility
- Accounts Payable – Accounts Payable Approval and Payment Automation
- Order Management – Single Source of Truth for Customer, Items and Accounts Receivable
- Revenue Management – Automated Deferred Revenue Processes and Revenue Recognition
SuiteBundle Setup & Configuration
Caravel’s NetSuite SuiteBundle for Software Companies is included in your implementation and is easily configured by our experienced consulting team. Here are some examples of the setup and configuration which is relevant to the software industry. Click on each picture below to see the full image.
Sales Order Software Lines
Sales Order software lines will not only denote item/customer pricing but will also identify the appropriate billing schedule (orange) and appropriate revenue recognition start and end dates (blue). If a user needs to locate sales transaction detail, they will only need to view a single record.
It is common to report against different product lines or software types — to do so, we leverage the “Class” segment in NetSuite. Below is an example of an income statement, where “Class” (or software type) can be reported against in a columnized format. The use of columns will be applied to all financial report types, where relevant.