Computer Applications for Business
DONG HUA UNIVERSITY
DAVID GUALTERO MUNOZ
Student id: DHUCIP11S006
* Management Software Cloud computing
NetSuite Inc. is the leading vendor of cloud-based Software-as-a-Service integrated business management software for mid-market enterprises and divisions of largecompanies, with over 10,000 organizations and a +$3 billion market cap. NetSuite's cloud business management system including ERP / accounting, order management / inventory, CRM, professional services automation (PSA), and Ecommerce. Depending on the version of NetSuite used, Netsuite offers modules for finance, customer relations management and marketing, payroll and employee management and web sitedevelopment and ecommerce.
1. One complete system including full-featured accounting, CRM, inventory, and ecommerce.
2. Scalable cloud platform for faster growth, streamlined operations and greater productivity.
3. Real-time visibility and anywhere, anytime access to critical business information.
4. Dramatically reduced IT cost, complexity, and maintenance.5. Industry solutions for software, wholesale distribution, manufacturing, ecommerce and professional services.
Financial features in NetSuite include:
* General ledger, accounts receivable, accounts payable
* Budget management
* Job and time tracking
* Sales and estimates
* Check writing and online bill payment
* Inventory management
* Amortization schedules (streamline redundant accounting processes like amortizing prepaid expenses.
* Amortization Schedules can be linked to projects.
Industries Overview of NETSUITE:
1) Revenue Recognition
taying on top of revenue recognition is a significant challenge for software companies. Getting it right means keepingpace with ever-changing licensing and distribution models, managing the complexities of multi-element contracts, and complying with stringent SEC regulations and Sarbanes-Oxley. And you've got to stay ahead of a sea of ever-changing revenue recognition rules such as the new EITF 08-01 and 09-03 standards. Unfortunately, most companies resort to complex spreadsheets that sap finance productivity,harbor substantial risk of error, and significant compliance risk.
NetSuite provides a total cloud solution that solves your revenue accounting challenges, with complete support for all key revenue recognition standards, automated revenue calculation, and fully integrated dashboards and reporting. The result is greater ease of use and flexibility, better data integrity, more visibility and lowerongoing maintenance.
* Improve finance productivity and reduces the cost and time of calculating, recording and reporting on revenue recognition
* Substantially reduce or even eliminate the use of spreadsheets, dramatically reduce errors, and gain strong compliant processes
* Establish strong revenue accounting processes and higher accuracy, ensuring the proper review,approval and execution of revenue that's due to be recognized
* Deliver clear visibility into all aspects of the revenue recognition process, from summary to detail.
2) Maximize the Potential of Your Recurring Revenue Streams
For software companies, maximizing the revenue from ongoing licenses, support and maintenance is critical for long-term health and success. Unfortunately many softwarecompanies suffer revenue leakage and customer churn because they rely on cumbersome, inefficient and sluggish manual processes to manage contract renewals and account for recurring revenue.
NetSuite provides the critical end-to-end functionality that software companies require to effectively manage their renewal business and maximize their recurring revenue. NetSuite's contract renewals solution is...
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