“The 360 Subscription 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.” —Brian Wheeler, CIO, NWN
As their NCare Managed Services business began to grow rapidly, NWN sought out a solution for entering, managing, invoicing, and recognizing revenue for their service contracts.
NWN Business Challenge
Given the high volume of GL segmentation and billing periods required for their subscription transactions, NWN was dealing with a high volume of manual entries and updates, leading to 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.
Solution Crafted for NWN
NWN engaged with 360 Cloud Solutions to help them reduce this data complexity and automate their contract invoicing and revenue. Upon completion of a comprehensive business process review, 360 Subscription Billing—our in-house recurring billing management software—was deemed to be an acceptable solution assuming that some customizations could be included.
NWN was able to transform typical sales orders from 36 lines down to only three lines utilizing the 360 Subscription Billing data architecture. (This would be for a typical three-year contract billed quarterly assuming three 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 now pull contract billing data and deferred revenue data into their customer, operational, and financial reports.
Their recurring billing service now utilizes the 360 Subscription Billing product to automate recurring invoicing, revenue forecasting and synchronization, contract renewals, pro-ration for partial billing periods, billing in advance, and dynamic advanced PDF layout delivery. Through customization of NetSuite and 360 Subscription Billing, they also aligned billing and revenue to be initiated from item fulfillments. Utilizing collaborative project plans and design/testing documentation, NWN was able to successfully go live and gain end-user adoption within the original budget—despite some scope changes and schedule adjustments along the way.
Products & Services
- 360 Contract Billing for NetSuite
- NetSuite Invoicing Automation
- NetSuite Revenue Automation
- Fulfillment-driven Process Automation
- Dynamic Customer Invoice PDF Layouts