New billing suite aims to unify the entire billing process, no matter what business model is in use
NetSuite has detailed a new unified billing system for customers that will work with any business model, whether its product-based, time, service, subscription, usage or any combination of these.
SuiteBilling, as its known, unifies both the billing and revenue recognition processes, giving customers more control and visibility from multiple sales channels.
And to make matters worse, companies operating hybrid business models that contain a mix of different offerings, packaging and pricing bundles, are also emerging.
So as the billing process becomes more complex, the challenge for businesses is to maximise their revenues by allowing firms to price their products in new and innovative ways.
Last month it announced a new Benelux region headquarters in Amsterdam as part of its ongoing expansion in Europe.
The company is also in the midst of having to deal with the implications of the new Privacy Shield data sharing agreement between the United States and European Union, which failed to gain the public backing of a key European data protection group.