NetSuite Blog

  • Making THE Revenue Recognition Rule Work for Your Business

    More than two years have passed since the revenue recognition rule came into effect. Formally, I'm talking about the Financial Accounting Standards Board (FASB) rule EITF 08-01, but because of the sweeping and significant changes it made to the way revenue from high-tech and multi-element products sales is recognized, at NetSuite we refer to it simply as the revenue recognition rule. Certainly, it has created new and complicated accounting obligations for a wide range of businesses—not just high...

  • Manufacturing The Cloud: 24 minutes between friends

    There has been much prognostication about NetSuite’s industry leading 99.5% uptime guarantee. As detractors and observers will rightly comment: "that translates to nearly 44 hours of unplanned downtime per year. That is almost 2 full days of ‘allowable’ outage".

  • Fine Wine Business Toasts IT Success with NetSuite Cloud

    The Guardian recently ran an article on cloud computing that highlighted the considerations companies need to make when selecting cloud services. In the article, LHK Fine Wines, supplier of fine and rare wines, describes how it has replaced numerous back-office systems with a single software-as-a-service (SaaS) package from NetSuite to manage financial accounting, inventory and order management, as well as its ecommerce website to “punch way above their weight.” In the article, Tom Mann, managin...

  • NetSuite’s Ability to Help with Conflict Resolution

    Some clients are tightening up their conflict policies, making it increasingly challenging for ad agencies to grow their businesses. According to AdAge, when Marriott recently chose to consolidate its buying power, it created a conflict policy that moved from a typical restriction against having Hilton as a client to a list of competitors ranked by tiers. To win the business, WPP’s MEC had to resign from some rival business in Asia Pacific.1 As agencies try to find revenue growth and as mar...

  • Business Transformation with Cloud ERP

    When a prospective customer running QuickBooks, spreadsheets and/or on-premise ERP gets in touch with NetSuite, we always ask the business and IT challenges they face. The answers vary by industry, but several themes are common: Limited visibility into key business metrics Poor productivity from manual data management across disparate systems Lengthy and error-prone financial close processes Limitations on ability to grow into new markets Inconsistent data on customers, suppliers and products wi...

  • Manufacturing the Cloud: Objects in the Rearview Mirror

    “Objects in the rearview mirror may appear closer than they are.” – Jim Steinman I grew up listening to the music of my older brother and sister, which in the Davidson household in ’70s Glasgow, Scotland, meant a steady diet of what we now call classic rock but in particular AC/DC, Deep Purple, Blue Oyster Cult, Meat Loaf and UFO (who by the way recorded the best live album ever, “Strangers in the Night,” but that’s another story), to name a few. Then the 1980s came around and as everything got ...

  • Six Keys To Preparing for a Successful High-Tech IPO

    Taking a company public is one of the most professionally and personally rewarding opportunities for a business leader, particularly in high growth tech and software industries. It can also be fraught with risk, pain and even public humiliation if mishandled—a quick browse through the business pages makes that perfectly clear. Tech IPOs can be soaring successes, with the right planning.

  • New Study Shows Marketing Agency Optimism Is Tempered by Concerns over Rising Service Levels

    With the UK announcing in April its return to recession, businesses across all sectors are vying to be as efficient as possible to maximise the chances of growth and profitability in the months ahead. Service agencies face a specific set of challenges here due to the fact that many give away time for free, unlike other industries that bill every pound. This is something agencies have grappled with for many years, but with the focus on profitability in a very uncertain economy, it’s something tha...

  • Summer Doldrums: An Opportunity to Assess Next Steps for Your Professional Services Organization

    In preparing to write this post, I was searching for a thought that might prompt you to action during the time of year when warm weather and greater daylight beckon many of us to vacations and more outdoor, non-work activities. “summer doldrums” popped into my head. As this seemed counter to my association of summer as a period of increased activity, particularly having lived on the East Coast, New England and the Midwest where colder winters drove many indoors, I did a little checking.

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