Saas Businesses operate in all types of industries. From entertainment, communication, healthcare, and so on. Despise these businesses having an all-around system that operates their key business functions such as orders, subscriptions, HR, and customer data records, there is a lack of a complete stand-alone solution. This means that SaaS businesses must resort to a second system that manages accounting and financial management. Unfortunately, many SaaS businesses must opt for a disconnected system that is standalone and isn’t capable of integrations.
There is a demand for SaaS-specific software that will integrate the main product to a supporting platform that can manage financials and implement automation across different locations. SaaS providers must be flexible and have the capacity to cover the finances across different regions and currencies. A scalable solution that supports growth strategy is crucial for businesses looking to expand operations.
SaaS businesses provide services that often already have their core business functions taken care of. This includes the management of the signup process, providing access to server and software tools, customer usage tracking, customer information database, and more. However, there are a few reasons why these businesses need additional support through the integration of NetSuite ERP.
SaaS businesses typically operate globally, as there does not have a tangible product and they are able to operate from anywhere as it is a service based on the cloud. Therefore, the businesses need to cater to all those users that are based in different regions and countries. This means billing must be offered in different currencies. Billing is also subscription-based and oftentimes based on usage. This is another reason where NetSuite ERP integration is beneficial. Based on customer usage data the ERP system may take on tasks such as invoicing and setting up recurring payments. Other areas where NetSuite ERP integration would support are automated financial consolidation, automated billing with tracking capabilities (such as price, customers, software products). A fully integrated solution that is available to display data in real-time and on the go, along with the ability to scale is crucial for SaaS businesses.
NetSuite OneWorld can also be an add-in, which can manage operations across multiple locations easily. With this support business owners can eliminate the need to use multiple solutions and integrate NetSuite OneWorld is a specialized module that has global operations, it provides real-time data at all levels to ensure that executives have access to data at any time. Furthermore, NetSuite OneWorld can adjust for different currencies, languages, taxation, and legal compliance at local levels, and handle regional and global business consolidation.
Business as usual is a concept of the past. SaaS businesses are changing the way we operate and communicate within organizations. A software company has more than just its core business processes to take care of, a crucial component is the way that financials are handled. Such as billing & invoicing, and accounting & financials. A SaaS business can have a customer base potentially anywhere in the world which means that a management team would greatly benefit from an integrated solution to make their operations seamless.