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What is netsuite subscription?

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SuiteWorks Tech

Lvl 5
8mo ago
Updated: 2/12/2025

NetSuite Subscription is a cloud-based tool by Oracle NetSuite designed to help businesses manage their subscription services. It makes handling recurring payments and subscription details easier and more accurate. Here’s a simplified breakdown of what it does:

Key Features:

Automated Billing:

  • It automatically bills customers on a regular schedule (e.g., monthly or yearly), saving time and reducing mistakes.

Revenue Recognition:

  • It helps businesses recognize subscription revenue correctly, following accounting rules (like ASC 606), over time as the service is provided.

Subscription Management:

  • Manages the whole life of a subscription, including sign-ups, renewals, upgrades, downgrades, cancellations, and refunds.

Metrics and Reporting:

  • Gives businesses important data, like monthly recurring revenue (MRR) and churn rate, to help track the health of the subscription business.

Customization:

  • Allows businesses to customize billing processes and subscription terms to fit their needs.

This module is great for businesses with subscription-based models, making operations smoother and ensuring everything is compliant and well-tracked. Contact Netsuite works tech +91 9505020210

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SuiteWorks Tech

Lvl 5
8mo ago

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