Oracle NetSuite Sales-to-Cash Functionality (Part 2)

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This is the second part of a short mini-series taking a comparative look at how Oracle NetSuite handles Sales-to-Cash transactions in contrast with smaller accounting systems that typically require a lot of manual work or 3rd-party solutions to get the job done.

When it comes to the Sales to Cash cycle, typically the more streamline the cycle the better the cash-flow will generally be. For those businesses that have used small accounting systems, they normally rely on the internal features those systems offer plus either spreadsheets or 3rd-party applications for inventory management. They also use a lot of ‘manual systems’ when it comes to order fulfillment (like pick and pack from printed forms), coupled with online tools (like a shipper’s interface) for delivery. All of this produces a very haphazard operation that can significantly delay orders and therefore stress cash-flow.

Make sure to check out our webinar with NetSuite, "The Dynamic General Ledger" on January 21, 2021. You can register here.

But Oracle NetSuite manages the sales-to-cash cycle via the integrated sales, billing, finance, and fulfillment features of this business management solution. In Part 1 we looked at Order Sales and Order Fulfillment. In this article, we will look at Billing and Invoice-receipt.

NetSuite helps businesses streamline billing operations by supporting multiple pricing models making it possible to bill customers in a variety of ways ranging from charging every customer the same value for every item/service to charges based on consumption with volume discounts, or customer-specific pricing supporting specific deal negotiations or contracts, including specific discounting per items. You name it NetSuite can bill it ‘that way’.  

Of course, NetSuite also eliminates the need for manual billing procedures that can be a drag on the sales-to-cash cycle by allowing for invoices to be transmitted directly to the client individually or in bulk via email avoiding the time delays of printing, stuffing, and mailing not to mention the cost of postage.

The NetSuite integrated framework connects your sales transactions and projects to the billing engine so that your invoices flow to your financials seamlessly.

With NetSuite’s Electronic Bank Payments feature NetSuite supports automatic customer collections (direct debits) to settle outstanding invoices, streamlining the sales-to-cash cycle significantly.

NetSuite eliminates time-consuming manual billing and invoice-receipt processes, as a result, accounts receivable becomes much more efficient, further compressing the sales-to-cash cycle and enhancing cash-flow.

If you want to learn more about how NetSuite might shorten your sales-to-cash cycle by streamlining all your small accounting system inadequacies, 3rd-party-App requirements, and manual-process ‘whatsits’ that you have to currently live with then head on over to the Oracle NetSuite website.

Make sure to check out our webinar with NetSuite, "The Dynamic General Ledger" on January 21, 2021. You can register here.

Disclosures:

Some content adapted from resource material provided during the NetSuite Now On Air event(s), October, 2020, used with permission. Illustrations provided by Oracle NetSuite source content, used with permission

This article is an editorial feature, it is NOT sponsored content. Even thought it may contain references or 'inserts' that refer to sponsored webinars or other sponsored content, the actual feature is intended as an informational resource for our readers.