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June 19, 2013 NetSuite for Software Companies
June 19, 2013
NetSuite for Software Companies
Our team today:
Matt Kenney Principal
Seth Bacon NetSuite Consultant
Confirming today’s agenda:
Introducing McGladrey Who is NetSuite? How does NetSuite serve Software Companies? NetSuite Demo: What “better” may look like for you
- Opportunities and Quoting - Billing and Revenue Recognition - Supporting Customers - Dashboards and Reporting
Q&A, next steps & wrap-up
Thank you!
McGladrey – The company
McGladrey LLP is the largest U.S. provider of assurance, tax and consulting services focused on the middle market, with nearly 6,500 professionals and associates in more than 75 offices nationwide.
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Solutions That Fit
Assurance
Financial Advisory Services
(M&A, Business Valuation, Litigation & Dispute,
Performance Improvement) •
Risk Advisory Services (Internal Audit, Security & Privacy, Sarbanes-Oxley, Regulatory Compliance)
• Technology Services
(Strategy & Advisory, ERP & CRM, Business Intelligence & Performance Management,
Infrastructure)
Washington National Tax Services
• International Tax Services
• State and Local Tax
(SALT) Services •
Tax Process and Technology (including FAS 109 Services)
• Private Client Services
(including wealth management) •
Human Capital Services (including benefit plan
consulting, ESOP and actuarial services)
•
Financial Statements Audits – Review and Attestation of Financial
Statements •
Support for Compliance with Local Country Regulations and International Accounting
Standards •
Employee Benefit Plan Audits – Audits of Benefit Plans (including
401(k) Plans) •
Global Back-Office Solutions •
Accounting Support Services •
Global Statutory Audit Services
Tax Consulting
Solutions That Fit
Technology Consulting Capabilities
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Advise Deliver Maintain
Enterprise Risk Management
Consulting Strategy and Advisory
Strategy Development Assessments Due Diligence System Selection Business Continuity and
Disaster Recovery Benchmarking/Best
Practices Project and Program
Management
Support Business & Technology
Outsourcing Finance and Accounting
Outsourcing IT Outsourcing CIO Advisory Application Outsourcing Infrastructure Outsourcing Hosting/Private Cloud Managed Services
Applications Design and Implementation
Enterprise Resource Planning (ERP) Customer Relationship
Management (CRM) Business Analytics Corporate Performance
Management Systems Integration Knowledge Management,
Portals and Collaboration
Business Performance Improvement
Infrastructure Design and Implementation
Network Design and Implementation (LAN/WAN)
Carrier Assessment/TEM Server Virtualization Storage and Recovery Desktop/Application Delivery Unified Communications and
Mobile Computing
Cloud Solutions Software as a Service (SaaS), Platform as a Service (PaaS), Infrastructure as a Service (IaaS)
We offer a comprehensive scope of technology services, covering IT Strategy, Application and Systems Integration, Infrastructure and Outsourcing.
NetSuite: World’s #1 Cloud ERP
World’s most deployed cloud ERP
Used by 16,000+ organizations
Fastest growing top 10 ERP
Used across 100+ countries
Top 10 Cloud Companies to Watch
Founded 1998
Publicly traded on NYSE: “N”
Offices in 10 countries
1700+ employees
$308 M+ revenue FY12 (31% Growth)
#1 Cloud ERP Suite Industry Recognition
Background Performance
Best Financial Management
Best Relationship Mgt. Best Business Software
Best Cloud Platform
Fastest Growing Top 10 FMS Vendor 3rd Year Running
One System for Running a Business
CEO CFO
Sales Rep/ Manager
Support Manager
Ecommerce Manager
Shipping Manager
Customers
Vendors Partners
ECOMMERCE
PSA
ERP
CRM+ SINGLE DATA SOURCE
AMERICAS APAC EMEA
Worldwide HQ
Cloud Global Business Management
ECOMMERCE
PSA
ERP
CRM+ SINGLE DATA SOURCE
Challenges facing Software Companies Pain Business
Requirements Solution Implications
Lack of effective sales processes
Visibility to opportunities, Quoting, next sales action
• Higher win rate • Increased revenue • Efficient use of sales resources
Inefficient management of recurring revenue
Automate the renewal process • Complete control of the renewals process • Manage billing for subscription and
maintenance streams
Complex revenue recognition
Support the latest revenue recognition requirements
• Complete support for all key revenue recognition standards
• Automated revenue calculation
Variance from key financial standards
Efficiently manage the entire accounting process
• Complete coverage for all major accounting processes – Order to Cash, Purchasing, Expense Management
• Accelerate the financial close
Lack of integrated support processes
Ticketing, Support Entitlement, Case management and tracking
• Customer satisfaction • Efficient use of support team • Automated self-service
Lack of a 360 degree view Single customer record across sales, marketing and finance
• Finance and sales integration • Advanced quote management • Cross-sell and up-sell management
Lack of timely financial reporting
Accurate, real-time financial reporting
• Real-time financial reports • Granular drill down and visibility into cash
management
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NetSuite Demonstration Opportunities and Quoting Billing and Revenue Recognition Supporting Customers Dashboards and Reporting
NetSuite Streamlines Finance Processes
NetSuite is Committed to Making Software Companies Successful
Vertical Focus on Software Companies - Dominant position in the marketplace with 800+ software companies as customers - Dedicated Sales, Implementation Specialists, Support, Product Management and
Executives - Established Best Practices
Software Specific Functionality - Revenue Recognition (EITF 08-1 & 09-3), Contract Management, Renewals, SOX
Controls - Time & Expense/Project Management, Issue Tracking, Fulfillment/Delivery
Choice of 21st Century Software Companies - Successful public companies including Solarwinds, RightNow Technologies, Convio,
Financial Engines, CornerstoneOnDemand, LogMeIn, and Successfactors - The next generation of not yet public companies including over 33% of the Hot 100
and AlwaysOn with companies such as Eloqua, Splunk, BazaarVoice, and Jive
NetSuite runs on NetSuite!
Transition Mature Company Scalable Startup
NetSuite is the #1 choice for 21st century software companies
NetSuite Delivers Benefits to the Bottom Line
Improvement area Business Result
IT Savings Moving from on-premise applications to NetSuite eliminated an average of $23,000 in software license maintenance costs per year, with a high of $50,000. IT staff savings for those companies ranged from 50 percent to 65 percent of total IT time.
Revenue Recognition (Finance)
Improved revenue recognition from NetSuite provided both increased productivity and reduced risk
Financial Close (Finance) NetSuite enabled customers to accelerate their time to close the books by an average of 60 percent.
Quote to Cash (Finance) NetSuite’s automated quote-to-cash functionality enables our customers to reduce quote to cash time by 50 percent.
Audit Time (Finance) Reduction in audit preparation time by at least 50 percent
Source: Nucleus Research
Experience the Power of Being Understood
We bring an unmatched client-centric focus to every engagement We create rich, enduring relationships based on a profound understanding of our clients– their business challenges and their aspirations Armed with an understanding of our clients, we bring fresh insights and tailored solutions to help them succeed This is The Power of Being Understood. This is McGladrey.
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Phased Approach and Methodology Highlights
• Establish a clear vision of the objectives for the implementation Initiate
• Understand the data/process flows, detailed business requirements, and integrations with existing business systems
Analyze and
Design
• Configure and test the application, modifications and product extensions with converted data
Build and
Validate
• Train end-users on new system and processes, complete final data migration, and cutover to new system Deploy
• Provide ongoing support as needed, conduct project close, and transition to internal support team Operate
Proj
ect M
anag
emen
t
Next steps:
Develop a list of your top business requirements Determine if the cloud fits your business Create an evaluation and selection plan
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