NetSuite, Inc., the industry's leading provider of cloud-based financials / ERP and omnichannel commerce suites, today announced a webinar titled "5 Keys to Success with a Recurring Revenue Model", that will explore the challenges and keys to success around managing recurring revenue in a subscription model in the software industry and other markets. The webinar, scheduled for Tuesday, August 27, will feature Amy Konary, Research Vice President, Software, Licensing, Provisioning and Delivery at IDC, and Rory Cameron, Senior Vice President of Corporate Development and Emerging Platforms at CallidusCloud (NASDAQ: CALD), a leading provider of cloud-based sales and marketing effectiveness solutions that uses NetSuite's sophisticated integrated business suite to manage a complex mix of recurring and one-time revenue from diverse sources.
The subscription-based business model gives businesses a new way to sell services and products that can result in more predictable revenue streams. Yet this model has introduced new complexity into managing revenue, particularly in the software, telecommunications, media and publishing, healthcare, and services-based industries that must deal with multiple revenue streams that now include subscription, usage, one-time, and project-based delivery. These complex billing and revenue management challenges outstrip the capabilities of the point solutions, spreadsheets and manual processes that many organizations have in place. As a pioneer in the subscription-based SaaS market, NetSuite has developed industry-leading capabilities for recurring revenue management, revenue recognition and unified billing that are used by such companies as CallidusCloud to simplify complex processes and maximize their recurring revenue streams. During the webinar, guest speakers from IDC and CallidusCloud will be joined by Kimberly Odom, Director of Vertical Marketing at NetSuite, to explore five key areas:
Effective recurring revenue management. Purpose-built revenue solutions can eliminate the ad hoc and manual processes that can lead to income misstatements, revenue leakage, and customer dissatisfaction and churn.
Non-recurring revenue management. Organizations need a unified way to manage both recurring and non-recurring revenue, from such sources as traditional perpetual licensing, training and events, professional services and hardware sales, while also integrating seamlessly with a core financial/ERP system.
Subscription and contract management. Automating subscriptions and contract renewals helps ensure strong cash flow, while cross-sell and upsell capabilities help organizations take advantage of opportunities with existing customers.
Real-time end-to-end visibility. Organizations eliminate the delays of waiting until the end of the month or quarter for revenue reporting with on-demand visibility and sharing opportunity management across sales and service.
Metrics-based decision-making. Organizations can easily access metrics that are important in a subscription business, including monthly recurring revenue (MRR), annual recurring revenue (ARR), renewal and churn rates, customer lifetime value and cost of customer acquisition.
"The subscription model presents many opportunities for compounding predictable growth and delivering an enhanced customer experience. It is critical to ensure proper management of recurring revenue and to have a 360-degree view of the customer," said Rory Cameron of CallidusCloud, which replaced 14 disparate applications with NetSuite OneWorld to streamline its global cloud business across nearly 140 countries. "We’ve brought new flexibility and insight into our revenue recognition processes, enhanced reporting and increased our customer success across our global operations since adopting NetSuite OneWorld."
"The subscription model has revolutionized the way companies run their businesses, to the point where companies using multiple point solutions miss out on opportunities to maximize their recurring revenue as well as manage the complete revenue picture that more often than not includes non-recurring elements," said Odom. "NetSuite's sophisticated revenue management functionality enables companies to manage both complex subscription-based revenue models and traditional revenue streams and it can all be done using a single cloud system."
CallidusCloud® (calliduscloud.com | callidussoftware.com), is the leading provider of sales and marketing effectiveness software. CallidusCloud enables organizations to accelerate and maximize their lead to money process with their complete suite of solutions that identify the right leads, ensure proper territory and quota distribution, enable sales forces, automate quote and proposal generation, and streamline sales compensation driving bigger deals, faster. Over 2000 leading organizations, across all industries, rely on CallidusCloud for their lead to money process for better marketing and smarter selling.
Today, more than 16,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite (netsuite.com) has established itself as the leading provider of enterprise-class cloud financials/ERP suites for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations as demonstrated in a recent Gartner study naming NetSuite as the fastest growing financial management software vendor on a global basis. NetSuite continues its success in delivering the best cloud ERP/financials suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud is accelerating.
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