CRM Software

Running a global services-based business is a task of gargantuan proportions. Companies delivering services in multiple global markets face an array of complex and volatile business dynamics – such as widely fluctuating local demand for resources, global pricing pressure and the constraints of complex, locally negotiated services delivery contracts. In this regard, one bad business decision can significantly impact profitability, cash flow and customer satisfaction.

 

Unlike manufacturing-based industries, global services businesses have historically lacked the integrated business management tools necessary to effectively manage corporate performance across all locations. Spreadsheets and legacy software systems offer, at best, an “opaque view” into subsidiaries and divisions, making it difficult to identify and weed out unprofitable projects. Finding the right resource with availability to work on a project can be nearly impossible – and gauging demand and backlog across geographies is sometimes a “best guess.”

These businesses also face a number of complex multi-currency billing, expense and revenue recognition management issues across tax jurisdictions that can sap time, resources and increase financial risk -- all while trying to ensure ongoing prompt project delivery, billing and receivables across dispersed divisions and subsidiaries.

As such, CRM software vendor NetSuite (News - Alert) has introduced a new cloud-based business management suite for global services companies, NetSuite OneWorld Services Resource Planning (SRP). NetSuite claims this new offering -- made possible through the integration of OpenAir’s (which NetSuite acquired last year) cloud-based PSA (professional services automation) solutions with NetSuite’s cloud-based platform -- gives global services businesses comprehensive real-time visibility, integrated financials, resource optimization and services management from corporate, to subsidiaries, down to the individual project level across geographies, currencies, and tax jurisdictions.

"The combination of cloud computing and Services Resource Planning provides global services businesses with a powerful solution to manage the key drivers of any services business -- revenue, utilization, profitability and days-sales-outstanding," said Michael Fauscette, GVP of Software Business Solutions at IDC (News - Alert), in a release. "NetSuite OneWorld SRP is the most complete, end-to-end cloud-based business management suite that provides global services businesses with real-time visibility, resource management and operational control, across subsidiaries, currencies and geographies."

 

"Most services businesses today run on software designed before the World Wide Web existed," added Zach Nelson (News - Alert), CEO of NetSuite. "NetSuite OneWorld SRP brings services companies into the Internet Age, and in so doing massively reduces cost while improving productivity. Instead of waiting three months to find out what happened yesterday with a given project or subsidiary entity, with NetSuite OneWorld SRP services-based businesses can finally manage their operation in real-time."

 

Key Features of NetSuite OneWorld SRP include:

 

--SRP Global Real-Time Visibility: Global dashboards and reports that combine financial and operational project drivers (such as utilization, profitability) for projects, subsidiaries, geographies and at the corporate level.

--SRP Global Resource Management: Enables matching the best resource for the project based on skills, experience and availability from a global bench, across multiple geographies to deliver the best possible client experience.

--SRP Global Financial Management: Accelerates financial close and reduces financial risk through granular, revenue recognition management that utilizes project-based revenue recognition rules, together with automated divisional and corporate financial management and reporting.

--SRP Global Time, Expense and Invoice Management: Improves services productivity and reduces errors across all divisions with a powerful time entry system with "Offline" capability, together with an approval management process that can be tailored by client and project.

--Powerful Project Accounting: Easily and efficiently manage and analyze project finances from bid preparation through time and expense tracking to client billing systems and internal charge-backs.

--Multi-Currency & Tax Management: Support for multiple currencies and international taxes enabling comprehensive management, billing and revenue recognition of projects across multiple currencies and tax jurisdictions.

--SRP Global Accessibility: 100 percent web-based, on-demand solution ensuring ease of access from anywhere, enabling services teams on the road to stay connected with offline access via mobile devices enabling them to submit time and expenses, update and monitor project performance.

 

The solution’s comprehensive services management functionality makes it ideal for professional services, legal, accounting, business process outsourcing management and media-agency organizations with international operations. With its automated multi-currency management, built-in support for international tax, compliance and sophisticated revenue recognition management, NetSuite OneWorld SRP eliminates arduous manual processes and shortens the period-end close cycle.

 

NetSuite claims the combined solution delivers the kind of integrated line-of-sight visibility that is necessary to allocate resources efficiently, improve project profitability, and drive cash flow -- from the corporate level, to subsidiary, and all the way down to individual projects.