NWN Automates Transactions and Reduces Data Complexity with 360 Contract Billing
“The 360 Contract Billing implementation resulted in quality outcomes for our internal end users, who are very pleased with the results of the solution. Our contract management team is realizing significant time savings from automated invoicing and revenue recognition.”
NWN Corporation, a leading provider of advanced IT solutions, services, and delivery models, has been using NetSuite since 2004. As their NCare Managed Services business began to grow rapidly, they sought out best practices and solutions for entering, managing, invoicing, and recognizing revenue for their service contracts.
Given the high volume of GL segmentation and billing periods required for their subscription transactions, this created a very high demand for manual entry and updates, plus a higher risk of user error. Their diverse customer base also required invoices to be presented in a variety of ways, adding to the demand for manual updates. Thus, NWN engaged with 360 to help them reduce this data complexity, plus automate their contract invoicing and revenue.
Upon completion of business process review to identify their ideal ‘to-be processes and assessment of 360 Cloud Solutions’ Contract Billing module, this was deemed to be an acceptable solution assuming that some customizations could be included as well.
Solution Implemented & Client Benefits
NWN was able to transform their most typical sales order from 36 lines down to only 3 lines utilizing the 360 Contract Billing data architecture. E.g. – this would be for a typical three-year contract billed quarterly assuming that involves 3 practices/classifications. They now also have a master contract database within their ERP/Accounting system which allows them to easily forecast recurring billing and manage change orders. They can also now pull contract billing data and deferred revenue data into their customer, operational, and financial reports.
Their recurring billing service now utilizes the 360 Contract Billing product to automate recurring invoicing, revenue forecasting & synchronization, contract renewals, pro-ration for partial billing periods, billing in advance, and dynamic 360 programmed advanced PDF layout delivery. Through customization of NetSuite and 360CB, they also aligned billing and revenue to be initiated from item fulfillments. Utilizing collaborative project plans and design/testing documentation with 360, NWN was able to successfully go live and gain end-user adoption within original budget – despite some scope changes and extended timeline along the way.