Services firms come in many forms, from Professional Services such as IT consultancies, accounting firms, law firms, and more, to subscription services such as janitorial, laundry and more.
Unique needs of all are addressed by the NetSuite and Adaptive Insights solutions with the ability to track packaged services, on-going, recurring service contracts or project based contracts complete with multiple tasks, milestones and billing schedules.
Solutions for Services Firms
NetSuite provides a unified solution for services firms to track multiple types of projects during all project phases. From initial quote and sales pursuit, to project planning and staffing, to on-going project management, billing and close-out, NetSuite supports the full project life-cycle and provides many key benefits. Coupled with Adaptive Insights budgeting & planning capabilities, you can finally track the financial success of your projects from initial planning through completion of delivery.
- Manage your projects and resources in a single unified solution that tracks project performance against plan, resource availability and assignments. Report on project profitability or even resource level utilization, loading and profitability with NetSuite and compare to project budgets in Adaptive Insights.
- Generate higher project profitability by using the power of your own experiences and previous project analytics to develop more accurate quotes and mitigate the risk of project cost or time overruns.
- Improve resource utilization - NetSuite resource management software helps you identify and assign the best resources to the right projects. Need someone with a particular skill set? Let NetSuite provide you the list of skills that make most sense to your operation. Yes, you define the skill sets, industry expertise or other variables that drive optimal resource assignments in your firm.
- Meet your varying revenue recognition requirements with the many recognition methods and standards supported by NetSuite, including fixed fee, time and materials, or other variations including even the mix of both on a single project. Set the appropriate revenue recognition schedules at the project level, to ensure that you can meet all the needs of your many and most complex service projects.
- Get paid faster by reducing the time and effort of your invoice creation and delivery. NetSuite lets you view all time worked and expenses incurred and simply indicate that they should be included on your customer invoice. Customize your invoice formats and delivery methods for your key customers and track your communication regarding invoices and payments directly in NetSuite.
- Manage your Global services business using NetSuite OneWorld to support operations across over 100 countries in over 17 languages with full support for localizations including tax reporting and accounting practices.