NetSuite Blog

Everything listed under: Software Industry

  • ASC 606 Promises Audit Fee Changes, Disclosure Complexities

    Upcoming changes to ASC 606 could have an impact on audit fees moving forward. At least that’s what about half the attendees at a recent webinar think. In Part 2 of our 4-Part series around Revenue Recognition and preparing for ASC 606, we heard from Prasadh Cadambi, Partner at KPMG and someone that has been living and breathing ASC 606 for over eight years. Cadambi spent two years with the Financial Accounting Standards Board, FASB, specializing on Revenue recognition which led to his experience with ASC 606

  • An Early Cloud ERP Adopter, GHA Technologies Grows Its VAR Business 5x

    Value-added resellers deliver computing equipment, software and services that help organizations improve efficiency and visibility across their operations. VARs need those same capabilities themselves to thrive in a fast-paced and fiercely competitive industry that puts a premium on customer service. GHA Technologies knows that first-hand. 

  • Majority of Companies Remain Unprepared for ASC 606 Rev Rec Changes

    Last week, we kicked off Part 1 of our 4-part webinar series over “Everything You Need to Know to Prepare Your Business for the New Revenue Recognition Standard ASC 606,” with Ranga Bodla, Head of Industry Marketing at NetSuite and our guest speaker and thought leader on the topic, Mike Forman, NetSuite’s Corporate Controller. The most surprising aspect that came out of the webinar was not the overwhelming number of attendees who attended but the results we received from our poll on how prepared businesses are for the change.

  • Tips on Achieving ‘Best-of-the-Best’ Performance in Professional Services

    What does it take to excel as a professional services organization (PSO)? The challenges are many in a fast-changing and highly competitive market. In 2016, PSO profitability declined by 8.4 percent, according to the 10th annual Professional Services Maturity Benchmark study by SPI Research, the leading research consultancy in the professional services industry.

  • NetSuite Controller Offers Front Line Advice for Preparing for ASC 606

    As the Global Controller at the NetSuite Global Business Unit and formerly the Senior Vice President of Finance, Global Controller & Accounting Officer before Oracle’s acquisition, Mike Forman has had a central role in preparing the company for ASC 606, Revenue from Contracts with Customers, the new rules that are set to go into effect next year. With the rules expected to have an impact on many industries, and software companies in particular, we sat down with him to discuss how the team at NetSuite prepared.

  • Quicken Hastens Toward New Future with NetSuite

    On the flip side of the record pace of mergers and acquisitions over the last couple of years is the rapid growth in companies divesting of product lines. Seeking to drive greater focus on core products, meet financing needs, and keep pace with market changes, companies are pursing divestitures at a record pace– with more than half of those surveyed in Deloitte’s M & A Trends Report, 2016 Edition reporting that they expected their companies to divest business lines over the next 12 months. That’s up from 39 percent last year.

  • ThousandEyes Secures the Future with NetSuite OneWorld

    The 21st century economy can be described with plenty of amazing superlatives. We enjoy high-speed wireless networks almost everywhere people live and work, miniaturization that brings tremendous computing power to an astounding array of devices, and untold access to life-prolonging inventions.

  • Five Trends Destined to Impact Software Companies in 2017

    Every year brings change to the software industry but with a new administration, amendments to revenue recognition rules and ongoing business model evolution, 2017 promises to be especially challenging. Tech companies will be faced with even more unique challenges including adapting to new accounting standards in preparation for ASC 606, embracing hybrid business models with a myriad of billing options, and meeting the compliance requirements associated with an IPO. While the backdrop for the software industry is quite bright, the challenges associated with sustaining and managing growth have never been more daunting.

  • Resource Management is a Fluid Process – Make Sure Your PSA is as Well

    I’ve run at least a hundred or more discoveries over the past few years at NetSuite and learned that the need to gain better visibility into their resources is one of the most common themes for services firms. From utilization tracking, to capacity planning, to finding the right skills for a project, relying on spreadsheets or, even worse, tribal knowledge at weekly meetings can make the process very inefficient.