What is Oracle Netsuite?
Oracle Netsuite is a software company providing integrated and comprehensive cloud-based management resources to businesses. Netsuite SuiteBilling is the invoicing module within Oracle’s finance and accounting suite that helps businesses automate and manage their billing, emphasizing subscriptions. It supports complex and structured pricing models and manages volume pricing, discounts, and customer-specific rates. The target clients for Netsuite SuiteBilling are small to medium-sized enterprises needing complex, structured, and repetitive invoicing management.
Netsuite is headquartered in Austin, Texas, and was founded in 1998 under the name NetLedger. The pioneer of cloud-based software, NetLedger became a publicly listed company in 2007 before being purchased for $9.3 billion by the American computer technology company Oracle in 2016. The company currently has 24 offices worldwide, selling access to its products via software as a service (SaaS) and supporting over 31,000 customers. NetSuite is designed with a single database and offers complete business management from a single platform, with all software specifically written for cloud-based operations. It offers considerable flexibility and deep reporting capabilities.
Despite being part of an overwhelmingly large software suite, you can subscribe solely to Netsuite SuiteBilling. SuiteBilling is aimed at businesses using the subscription pricing model, providing accurate invoicing for pricing and usage over a specific period. Three billing models form the base of SuiteBilling’s offering, starting at flat billing, where prices do not change from one period to the next. Consumption billing tracks usage and charges the appropriate rate for the consumption of service or product over the period, while tiered billing accommodates prices structured by consumption bands and aggregates the totals.
Customers may choose between two rating models; the single rating supports either a one-off charge or recurring subscription, which may be in advance or arrears. The multiple rating model supports structured billing comprising set-up fees, license-count billing, and consumption charges in one invoice. The two rating models provide easy set-up and operation for simple subscription pricing and flexibility for more complex and layered pricing structures, while SuiteBilling’s subscription renewal and management feature allows a choice between time-limited subscriptions over one, two, or more years or evergreen subscriptions.
Oracle Netsuite
What popular features do you get with Oracle Netsuite?
- Manages upselling and downselling easily
- Multiple billing models supported
- Immediate or future-dated change-orders
- Auto-credits backdated change orders
- Simplifies suspensions and terminations
- Supports multiple currencies
- Real-time reporting
- Personalized customer account portal
- Pro-rating invoices for mid-period changes
- Revenue recognition regulations compliant
Customer Support is available at Oracle Netsuite
All users of SuiteBilling receive Netsuite’s Basic Support package that provides 24 x 7 telephone support for what Netsuite calls “Severity One” issues as defined, we assume, in your contract. Online support is available during business hours for Severity Two issues.
If your subscription level is eligible for Premium Support, Severity One and Two issues are available 24 x 7 by telephone and Severity Three and Four issues during business hours by telephone. You may also opt for online submission. If eligible for Advanced Customer Support, you gain access to tiered support bands of Advise, Monitor, Optimize, and Architect, with more proactive services provided within each band.
All customers access SuiteAnswers, Netsuite’s technical support portal, providing articles, best practices, and training videos. There is also an online support community where you may gain support from over 30,000 users.
What kind of business is Oracle Netsuite ideal for?
Netsuite aims its services at small to mid-sized enterprises, although with the breadth and depth of products provided singly or grouped, any business could use their products. However, the two limiting factors are cost and complexity. Solopreneurs and small startups may struggle to justify the monthly fees, while businesses with simple invoicing needs may find SuiteBilling overkill. However, businesses requiring recurring billing or offering subscription pricing will find SuiteBilling a comprehensive solution.
Pros and Cons
- Flexible and powerful management of complex recurring invoices
- Netsuite’s other products allow clients to scale as their business grows
- Ensures revenue compliance under ASC-606
- Manages change orders and pro-rated invoicing
- Portals for each customer to manage their subscription
- No pricing published, quote-only depending on need
- Pricey for small businesses wanting to invoice only
People like you also researched
Here are some products we think might be a good fit based on what people like you viewed.
Intuit Quickbooks
- Reporting features
- Automated payment reminders
- Connects directly to e-commerce tools
- Invoice payment tracking
Freshbooks
- Affordable
- Clean user interface
- Simple and intuitive to use
- Good integration with partner apps
Invoiceninja
- Comprehensive reporting
- Offers real-time data creatively and appealingly
- In-built timer to ensure you do not miss out on important projects and tasks
- Incredible third-party integration capabilities
How much does Oracle Netsuite cost?
*based on information provided by the vendor. Actual cost may vary.
It’s impossible to give prices for comparison, as Netsuite doesn’t publish any rates. You need to contact them to discuss your needs before being provided a quote. You will pay an annual license fee based on access to the core platform, optional modules, and the number of users you need. There is also an implementation fee for the initial set-up.
You will find some prices online that others have quoted, claiming the SuiteBilling option starts at $99 per month. If correct, we feel small startups or solopreneurs may struggle to justify such a monthly outgoing. However, the features and functionality provided by SuiteBilling are uniquely geared toward subscription-based billing, so if you use complex structuring for recurring payments, you may find SuiteBilling is worth the investment.
Final thoughts...
NetSuite SuiteBilling is an impressive product occupying a specific niche for automating subscription billing. In a world where monthly subscriptions are the prevailing payment method, SuiteBilling has proved an outstanding success. Capable of handling the most complex pricing structures while supporting simple fixed price recurring billing, the product nicely balances simplicity with flexibility. It also handles the realities of subscriptions well, providing support for cancellations, terminations, upselling, downselling, and pro-rates.
We like that as your business grows, you can scale your subscription with Netsuite to include other business management modules. Choices include a range of products for global business management, comprehensive accounting system products, customer resource management, and e-commerce solutions. If subscription pricing or recurring billings form part of your business structure, Netsuite’s SuiteBilling is worth your consideration.
