Why Should Software Companies Choose NetSuite as Their Business Solution?

Software and technology companies operate in one of the most rapidly and constantly changing industries out there, with tumultuous shifts in development, infrastructure, customer expectations, and business models. Software companies are also able to grow very fast, and can go from start-up through scale-up, to IPO and to global enterprise very quickly in the matter of just a few years. But to be successful, it’s imperative to invest in business systems that can support that kind of growth.

NetSuite is a complete business solution that caters to software companies in every stage of the company lifecycle. The system scales effectively with growth, which means that companies implementing NetSuite in their early stages can count on it supporting them all the way along their growth journey. Over 1000 software companies use NetSuite, making it the leading Cloud ERP solution for the software industry. In fact, NetSuite customers make up 63% of tech IPOs since 2011. In 2021 alone, a total of 66 NetSuite customers have gone through an IPO and 22 have been through a SPAC.

• Over 1,000 software companies run on NetSuite, ranging from start-ups to global enterprises

• NetSuite software customers report 25-80 % improvements across multiple areas of the business

• 64% of technology IPOs have been running on NetSuite since 2011

NetSuite benefits for software companies

Scalability & adaptability

NetSuite’s cloud-based architecture allows for seamless scaling, accommodating increasing transaction volumes, expanding product lines, and growing customer bases. This eliminates the need for costly and disruptive system replacements as the company evolves.
NetSuite’s flexibility enables software companies to adapt to changing market conditions and business models—whether transitioning from on-premises to SaaS or introducing new subscription-based offerings.

Real-time financial visibility and control

NetSuite users get insights into relevant company metrics and data in real-time, visualized on customizable dashboards and in automatically generated reports. This empowers software companies to make informed decisions, identify potential issues, and seize opportunities quickly.
NetSuite also helps ensure compliance with complex revenue recognition standards like ASC 606 and IFRS 15.

Global business management

NetSuite offers multi-language, multi-currency, and multi-subsidiary capabilities as well as built-in compliance for local tax and regulatory requirements. This simplifies financial consolidation, ensures compliance with local regulations, and facilitates global expansion. Software companies can manage their entire organization, including subsidiaries in different countries, within a single system.

Streamlined revenue management

Software companies, particularly those with subscription-based models, face unique revenue management challenges. NetSuite automates critical processes such as subscription billing, recurring revenue recognition, and contract management.
It supports various billing models, including usage-based, tiered, and hybrid billing, providing flexibility to meet diverse customer needs.

Integrated project and resource management
Software companies often deliver projects alongside their core product offerings. NetSuite’s SuiteProjects provides a comprehensive platform for managing these projects, deeply integrated with financials, CRM, and other core business functions.
This enables real-time visibility into project profitability, resource utilization, and overall project health.

Cloud-based agility, automation, and integration

NetSuite’s true cloud nature allows access from anywhere, at any time—vital for modern workforces. It automates a wide range of business processes, from order management and billing to financial close and reporting.
NetSuite also integrates with other essential business applications, such as CRM and e-commerce platforms, creating a unified and streamlined ecosystem.

By automating different processes within the company, NetSuite helps software companies:

• Eliminate the use of error-prone spreadsheets

• Reduce manual reconciliations

• Speed up the financial close process

• Improve order processing efficiency

• Reduce IT support and resource costs

• Improve professional services productivity

• Gain critical controls for compliance activities

Resulting in key benefits such as rapid growth, greater efficiency, competitive differentiation, increased speed to market, global expansion, reduced cost to serve, and risk mitigation.

Words from a software company user of NetSuite

iBinder Group is a SaaS company that provides a modern digital information management platform for the construction and real estate industry. The company was founded in Sweden in 2005 and now operates in 8 countries.

To keep up with rapid growth both organically and through acquisitions, they chose to implement NetSuite for the Group’s 13 companies in 2022. NetSuite fulfilled the Group's expectations, and the following benefits were particularly appreciated:

Firstly, it enables a single accounting process where instead of handling 13 different companies, the system handles the Group as a single company. Secondly, it enables the integration and migration of new companies in a fast and easy away. All other suppliers required almost a new implementation for each new company while with NetSuite it is an easy and simple process. Thirdly, it’s easy to get global support, as NetSuite is a well-recognized system.

Read iBinder Group's customer story

Read more about how Staria can support your journey with NetSuite.