6 Benefits of NetSuite Recurring Billing with BillFinity
These days, it's common for businesses to offer subscription pricing models. Growing businesses know it's important to simplify and automate the recurring billing process. Our team at Kraft Enterprise Systems, LLC (KES) help NetSuite customers streamline their subscription business. For years, NetSuite customers struggled to find a solution that was a good fit. The options were either too complex, too expensive, or both. Our KES team has extensive experience with recurring billing software. We also have in-depth experience with NetSuite Advanced Revenue Recognition. Based on our customer feedback, we developed our own recurring billing solution, BillFinity.
We’re proud to announce BillFinity is a great solution for our customers and the entire NetSuite community. We work with NetSuite Solution Providers to help you offer BillFinity to your own NetSuite customers. Contact us to discuss our NetSuite Solution Provider training and referral program. The response has been tremendous and we’re excited to spread the word!BillFinity automates recurring billing for subscription-driven companies. The standard version of NetSuite allows for billing schedules, and certain add-ons allow for contract management. BillFinity’s offers powerful recurring billing management capabilities without the burden of a complex contract management system.
BillFinity for NetSuite Recurring Billing Includes 6 Main Benefits
- Ongoing Subscriptions - Automatically create ongoing subscriptions from sales activity. Create easy ongoing updates/adjustments to subscriptions without making other contract modifications.
- Flexible Billing Terms - It’s easy to define any number of billing terms (monthly, quarterly, annually, etc.). There’s smart logic to account for changes in month-end dates, leap years, etc.
- Renewal Transactions - Define the default type of renewal transaction to create at billing (sales order or direct-to-invoice). You can generate these transactions at any specified number of days in advance of renewal.
- Automate Renewals with Secure Credit Card Processing - NetSuite already securely stores customer credit card information with PCI compliant standards. Automatically create payment records and apply them to invoices created as part of the renewal process.
- Enhanced Revenue Recognition - Fully utilize the NetSuite Advanced Revenue Recognition Management feature. All revenue recognition schedules are automatically created (yet easily modified) based on term.
- Subscription Reporting - Perform extensive MRR/ARR reporting and forecasting. Analyze trends with churn/new/active visibility.
BillFinity fills a gap in a growing market of recurring subscription-based businesses. We are confident that you will find
A Few BillFinity Customer Testimonials for NetSuite Recurring Billing
“BillFinity is very easy to learn and navigate through which made it easy for me to train my team. Further, it saves us hours of frustration compared to our previous module. I would highly recommend this tool and the Kraft team for NetSuite assistance!”
- Logan Barnes, Accounting Specialist, Healthcare Bluebook
“Billfinity made it possible for us to put together a plan for recurring subscription billings, which really couldn’t be effectively solved by other consultants without a very time consuming and inefficient process being implemented.”
- Adam Johnson, Accounting Manager, MatrixCare
At Kraft Enterprise Systems, we are business partners with our clients. We've been helping our clients plan, procure, design and implement great business management solutions for over 20 years. We love to learn about business challenges and help create solutions to help your business grow.
Additional NetSuite Suite Aps - We also offer a NetSuite SuiteApp called the A/P Toolkit. We developed the A/P toolkit to extend the core capabilities of A/P processing in NetSuite. It automates numerous functions for organizations with complex A/P requirements.
Commitment is our differentiation. Our commitment is to your success and we work tirelessly to help you achieve your business goals.
Another version of this blog was previously posted on Kraft Enterprise Systems, LLC (KES)’s Blog - author is Glenn Hofmann - NetSuite Practice Director - March 6, 2018: Grow your recurring billing business with BillFinity
Photo courtesy of www.freedidgitalphotos.net - Bills And Invoices Files On Laptop Shows Finances” by Stuart Miles