Shared vendor bill netsuite is an advanced billing solution tailored to companies with subscription-based models for selling services to customers. With this software, companies can manage their subscribers easily and get paid promptly.
The solution also reduces billing errors, which can have detrimental effects on a company’s reputation. Furthermore, it provides maximum transparency to customers by providing them with an exhaustive breakdown of their invoices.
Streamlined Invoicing
Invoicing is often a back-office headache in businesses. But with an efficient strategy, invoice processing can become much smoother and help your company remain agile.
Efficient invoicing can benefit your cash flow and customer satisfaction. Furthermore, it helps reduce human error and boost accuracy.
NetSuite’s invoice automation technology enables businesses to automate every step of the invoicing process. This eliminates manual data entry and guarantees that all invoices are created and paid on time.
Your team can focus on the aspects of your business they enjoy most with a streamlined approach to invoicing. That way, they’re free to spend more time working with customers and less on mundane operational tasks.
Streamlining invoicing is essential for the success of any business. Invoices should be sent promptly, accurately, and with straightforward payment terms that your customers can understand.
Managed Subscription Billing
Subscription billing is a popular business model that allows companies to charge customers a monthly fee for access to products and services, from physical goods like food and clothing to digital content and software. Companies can charge customers for everything from physical items like food or clothing up to digital goods like music.
Subscription billing can be a complex task, necessitating an expert solution to simplify operations and handle complexities. Managed subscription billing is the perfect solution for businesses with regular recurring payments.
NetSuite SuiteBilling provides a suite of solutions for managed subscription billing that can help maximize the potential of your subscription business. These include an integrated invoicing system, automated rating processes and support for multiple pricing models.
SuiteBilling also provides the capability of automating changes to subscriptions, such as altering features like pricing or quantities.
SuiteBilling allows companies to record changes immediately and ensure they become effective when defined in a change order. This eliminates the need for companies to manually track changes and keep up with them.
Minimized Errors
When processing multiple vendor bills, accuracy is of the utmost importance. Errors can damage your company’s reputation and even threaten its financial health.
Aminian’s Scan & Capture solution automatically generates vendor bill records in NetSuite from PDF invoices through OCR (optical character recognition). Data from the document is scanned into digital text and pre-populated with all required fields, eliminating manual entry.
Split Screen Mode offers AP users and approvers the convenience of viewing both the original PDF document on one side, along with NetSuite vendor bill records on the other. This makes it simpler to review and approve vendor bills quickly and accurately.
NetSuite remembers your preferences for vendor credit limits and applies any credits entered to the oldest outstanding vendor bills. Additionally, it displays a warning message if a transaction exceeds a vendor’s credit limit.
Better Transparency
When it comes to vendor management, lack of transparency can cause delays and errors. A streamlined, transparent process helps both vendors and the company avoid these problems.
NetSuite ERP offers a vendor management platform to monitor the full transaction lifecycle. This helps guarantee efficient sourcing, ordering, receiving and payment processes.
Better Transparency
NetSuite’s shared vendor bill feature allows you to view bills side by side, improving accuracy by reducing duplicate invoices and guaranteeing your customers receive their full invoices.
Your accounts payable team can save time resolving disputes with vendors by automating the process. Not only does this save you money, but it makes maintaining positive relationships with vendors much simpler as well.
Deepak Wadhwani has over 20 years experience in software/wireless technologies. He has worked with Fortune 500 companies including Intuit, ESRI, Qualcomm, Sprint, Verizon, Vodafone, Nortel, Microsoft and Oracle in over 60 countries. Deepak has worked on Internet marketing projects in San Diego, Los Angeles, Orange Country, Denver, Nashville, Kansas City, New York, San Francisco and Huntsville. Deepak has been a founder of technology Startups for one of the first Cityguides, yellow pages online and web based enterprise solutions. He is an internet marketing and technology expert & co-founder for a San Diego Internet marketing company.