How to Survive and Thrive by Driving Sales Performance with @NetSuite
NetSuite delivers all the key capabilities sales people need to drive renewals, quote the customer correctly, upsell customers, and ensure that they are aligned with the latest product offerings and company strategy:
NetSuite lets you monetize existing customers with strong upsell and cross-sell management features, even allowing service functions to upsell. NetSuite also provides strong sales incentive compensation management to balance customer acquisition with upselling/cross-selling and to enable the roll out of SPIFs and upsell/cross-sell sales plans.
Customer Success: Managing Revenue Performance
“We have to responsibly manage growth, and NetSuite provides the business application infrastructure that we need to do exactly that.”
— Rob Gottschalk, Director of Sales Operations, SolarWinds
Integrated Pricing and Quote Management
NetSuite supports agile pricing for subscription plans in response to customer or market demand, allowing you to:
- Ensure that sales quotes are up-to-date with the latest finance and pricing information
- Effective-date new customer agreements
- Update billing processes and prorate payments
- Communicate pricing changes to the sales and service team
- Synchronize quote management, financial management processes and incentive compensation.
To see exactly how NetSuite works, try a free demo.
Sales Commissions Management
Compensation and commissions visibility are key to keeping sales people focused on their target, which can be particularly challenging in complex software contracts. NetSuite gives you a number of ways to manage and adjust commissions, including:
- Complex commission schedules can be managed centrally, and set monthly, quarterly, bi-annually or annually to allow for maximum flexibility
- Commission rules can be configured based on quota, sales or quantity
- Calculation options enable you to calculate commissions based on a linear scale, marginal scale, or no scale at all.
- Support for complete commission plans allows for multi-tiered scheduling and maximum flexibility in creating sales compensation formulas
- Retroactive commissions options enable you to make changes to compensation plans, as needed, when needed
- Target commissions enable sales managers to set a goal and calculate commissions for the entire sales team.
Clear Business Visibility
NetSuite’s strong dashboard and reporting capabilities help you drive revenue management and financial reporting, and manage customer profitability. They let you continually monitor recognized revenue; examine breakouts of recognized revenue across the various elements; and achieve detailed visibility down to the transaction level. They help ensure that you’re confident in reporting your financials and you’re able to quickly diagnose any unforeseen issues. In addition, they equip you to handle the more complex revenue and deferred revenue reporting (by region, product line and so on) resulting from new revenue recognition rules such as EITF 08-01 and EITF 09-03.
NetSuite helps you minimize “cost-to-serve” by giving you a handle on all direct and indirect customer costs — including acquisition costs, service costs and product delivery costs. You can see which customer
segments drive margin and which don’t, so you can change strategy accordingly.
NetSuite’s real-time visibility even extends to mobile devices such as Blackberry and Apple iPhone, with the NetSuite for iPhone application. It enables decision makers and any employee interacting with the customer to have comprehensive access to the latest customer and business information, no matter where they are.
For more info on how to survive and thrive in new software industry, download this free whitepaper.