Once a foreign concept, the “internet of things” is now a catchy household phrase for devices connected to the internet, collecting and sharing data. From consumer items like scales and refrigerators to traffic monitors, assembly line machines, and, quite literally, everything in between—IoT is here to stay.
In fact, IHS estimates that the number of connected devices will likely reach upwards of 75 billion by 2025—a 226% increase from 2018. While this explosive growth presents incredible opportunities for businesses in nearly every industry, oftentimes, having the right technology and processes in place to sell, manage, track, and bill both the devices and associated services is an afterthought. Systems and processes not only need to be optimized but aligned and connected—just like the devices you sell.
IoT is the future—are you coming? NetSuite can help you get there.
Future-proof your business with NetSuite
NetSuite is the world’s leading cloud-based ERP solution that integrates all of your business functions into one easy-to-use system: financials, billing, inventory, CRM, supply chain management, and more. By having a single source of truth for all of your critical data, you will benefit from improved efficiency and increased visibility so you can make smarter decisions, faster.
With NetSuite, you won’t get trapped using an outdated system. Future-proof your business with software that is always up-to-date. Plus, customizations and extensions carry forward seamlessly. How easy is that?
Integrated & Streamlined
Seamless integrations with NetSuite order management, inventory, CRM, and e-commerce functions to streamline critical business processes.
Meet Demands… and Expectations
NetSuite automates inventory management, reduces handling costs, and optimizes cash flow while ensuring real-time visibility into asset, replenishment, and tracking data.
Swift & Compliant Financials
Seamlessly couple finance and accounting functions with strong compliance management for speedy and accurate financial close processes.
Subscription billing—directly within NetSuite
IoT devices on their own are just that—devices. The ‘wow factor’ comes not from the data collected by the device, but how it’s delivered to your customer. While it’s standard for basic features to come free with the device, putting a premium on the bells and whistles is one way to create a lasting relationship with customers (and generate recurring revenue). That’s where subscriptions come in.
360 Subscription Billing makes managing subscriptions or any type of long-term contract in NetSuite easier than ever. Automate recurring invoices, electronic payments, and renewals—plus get access to SOX-compliant tools for temporary price adjustments, subscription changes, usage charges, revenue synchronization, and more.
Bill On Your Terms
Flexible contract start dates, billing dates, and end dates. For easier back-end management, 360 Subscription Billing also allows you to co-term subscription bill and end dates.
Automated Revenue Recognition
360 Subscription Billing helps you stay compliant by integrating seamlessly with NetSuite’s Revenue Recognition and Advanced Revenue Management.
Data at Your Fingertips
As a Built for NetSuite Native SuiteApp, you can leverage NetSuite reports to access data, analytics, and KPIs around subscriptions, customers, and revenue.
Easy Subscription Changes
Whether a temporary adjustment like a promotion or special offer, or an ongoing change like an upsell or downsell, automated billing proration frees your team from manual adjustments.
Subscribe to a new way of doing business
As experts in NetSuite and subscription billing, there is no better choice to help make your IoT dreams a reality. Our team of NetSuite-certified experts has more than 125 years of combined experience and 400+ successful implementations under our belt. We built 360 Subscription Billing from the ground up and can help you make the most of your subscription model.
Let’s Get Growing
Sound familiar? 360 Cloud Solutions can help.
Fill out the form with details and we’ll be in touch shortly.
You may be interested in: