NetSuite Blog

Everything listed under: ERP / Accounting

  • 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.

  • 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.

  • NetSuite Opens Nordic Operations, Expands in Benelux, UK and Ireland

    One key benefit of Oracle’s acquisition of NetSuite is the resources Oracle brings to help NetSuite expand its global capability and reach. Today we’re happy to announce early progress toward that goal.

    In the EMEA region, the overall focus will be on increasing investments and resources for customer success and market expansion in three key areas.

  • NetSuite Deepens Vertical Industry Commitment with Software for Apparel, Footwear and Accessory Retailers, Advertising Agencies and Campus Bookstores

    Given the recent acquisition by Oracle, the NetSuite Global Business Unit now has an even greater breadth of resources and greater depth of domain knowledge about the demands of vertical industries and the segments within them. Combining these resources with NetSuite’s 18 years of experience in building a system to run a business from the cloud gives us the opportunity to move quickly to address new industry segments. 

  • Key Considerations for Simplifying the Complexity of the new Revenue Recognition Rules

    Anyone planning to try and account for revenue recognition (RevRec) under the new accounting standards ASC 605 and ASC 606/IFRS 15 using a spreadsheet, needs to be aware that this is going to introduce more complexity not less. It’s a significant consideration. As finance contends with the new rules, interpretation of the regulatory landscape can be tricky and misstatements can have devastating consequences.

  • Should PSA Software be Closer to the CRM, the HCM or to the ERP?

    There’s been a lot of discussion regarding the alignment of a PSA solution relative to other enterprise solutions. Should the PSA be tied to the CRM? Should it be built out as part of the HCM?

  • Hybrid is the New Black for Business Models

    In today’s hyper-competitive marketplace, businesses are in constant “hunting mode” to monetize their offerings and under relentless pressure to launch, build and grow recurring revenue streams as a means to survive. Hybrid business models have emerged as a direct result of this “survival of the fittest” phenomenon. 

  • NetSuite Gets GRC

    The Governance, Risk, and Compliance (GRC) landscape has been rapidly evolving over the last 18 to 24 months, with significant implications for NetSuite and our customers. We’ve seen accelerating adoption in public and public-bound companies, in upmarket and rapid growth midmarket companies, and in compliance-regulated companies, such as nonprofit and education.

  • Three Reasons Why Billing Has Become a Strategic Function

    A closer look at the marketplace today reveals a dramatic shift in ownership models: from perpetual ownership and fixed-term subscription models to hybrid models that combine products, subscriptions and services. This is driving how businesses sell. Sellers have shifted their focus from a transaction-focused relationship with the customer to viewing it as a relationship that needs to be built and nurtured.