www.bestirtech.com

ADVANCED REVENUE MANAGEMENT FOR A U.S CUSTOMER

BACKGROUND

BESTIR SOLUTION

The new revenue recognition in the US Govt. comes with a standard

that all the Finance Accounting and Revenue contracts etc. are to be in

compliance with the new standard ASC-606 Revenue from Contracts

with Customers, a converging standard issued jointly by the FASB and

IASB on May 28, 2014. The requested functionality includes Standard

NetSuite Advanced Revenue Management (ARM) implementation as

well as the associated Customizations on ARM, tailored for our

customer’s needs.

Our Cloud ERP solutions are industry focused and deployed faster and require less cost and more optimized way of customization rather than a “one-size-fits-all” approach. The project involved NetSuite Suite ERP solution as part of customizations required on need basis. Additional fine-tuning was handled using extensive configuration and customization capabilities offered by NetSuite Suite API’s and workflows. Advanced Revenue Management automates revenue forecasting, allocation, recognition, reclassification, and auditing through a rule-based event handling framework. It is compliant with the ASC 606 revenue standard.

Commission Rate

Split Billing

Invoice Generation

Support BESP

Parts BESP – BCS Offerings

Interface for Update Revenue Arrangements and Contingency

Item Fulfillment Ship date and Sales Term from the SFDC sync

Creation of Cost custom field

Creation of Total HW Gross Margin

Contingent Script

Labor Expense and Labor Deferred Expense Account based on Accounting Preferences

Detailed view of Accounting Statistics using the attractive Exachart plug-in

Mapping Revenue Recognition Fields for Sales Order

Setting Revenue Recognition Accounting Preferences

Updating Revenue Recognition Plans

Few Snapshots of Complex functionalities that we had delivered:

KEY FEATURES AND CUSTOMIZATIONS

Revenue Recognition Plans

Compliant, Contingent Trigger Handling

HOW DID WE DELIVER?

We understand the Project Requirements and the Scope, Task/Feature/Functionality implementa-tion and follow the inter-nal process defined as below, which our customers have accepted and they are very pleased to support us in all aspects of smooth Delivery.

We have a systematic and quickly developed internal process with added agile methodolo-gy techniques that is applicable for one day to a short/long term duration deliverables as well.

TECHNICAL DETAILS

Type of Project Client

Engagement

Size Technology/

Tools

Industry Users Testing

Methods

Advanced Revenue Management

feature Configuration & Customizations

Workflow/Scripting Implementation

U.S Based Customer

5 person months

Netsuite: SuiteScript

1.0, SuiteScript

2.0, CSV Upload, SDN,

Sandbox

E-Publishing & Data Storage

Administrator, Support User,

Sales Executive, Finance Team, Accountants,

Controllers etc.

Functional Test Case Standard

Templates

Special notes

We have implemented ARM module in Netsuite and customized modules like Sales Order, Item fulfilment, Invoice, Revenue Arrangement, Revenue Elements.

We have also built Suitelet, Schedule scripts which can run on-demand and on set frequency.

Other details

Customized Report Handling with Latest controls like Exachart etc. has been provided

A report of customer / partners with Netsuite with their payment terms, Shipping Terms, and Revenue to Date

Enhanced data loader to automate the data uploading process and automating the sequential and parallel running of batches.

Finance Force integration done for updating the invoice details into Finance Force Invoices and Payments and vice versa.

Customized the complex billing generation business process and provided the easy way to end user for generating the monthly invoices.

CHALLENGES

Understanding the GAAP Compliance and building the Customizations ASC – 606 compliant and “Fit For Use”

Role based Testing for all the functionalities (Revenue Accountant, Controller, Administrator etc.).

Complex Price and Usage calculations, Discount and Taxes calculation has been taken care of so that each and every scenario works according to the requirement

Quotations in the form of PDF and Word versions and Invoice in PDF version was manually verified with accurate pricing, discount and tax details which is to be sent to customers right from Quote page.

0 100 200 300 400 500 600 700

Sandbox Move & System Testing

Sprint - 5

Sprint - 4

Sprint - 3

Sprint - 2

Sprint - 1

System Architecture & Design

Actual Vs Planned - Man Hours

0 10 20 30 40 50 60 70 80 90

Sandbox Move & System Testing

Sprint - 5

Sprint - 4

Sprint - 3

Sprint - 2

Sprint - 1

System Architecture & Design

Actual Vs Planned - Calendar Days

Actual Calender Days Planned Calender Days

PROJECT METRICS

Our cloud ERP solutions always help you stay ahead of the curve for • Long Term • Lower total cost of ownership • Eliminate manual processes that create mistakes and bottlenecks • Real Time Visibility • Improved IT security

CONCLUSION

If you are a sophisticated, market facing company with a need for designing and implementing software solutions to solve real world business problems, or if you are a Software Service or Product Company in the US, looking for a reliable and committed long-term partner, you have come to right place. We are looking for clients whose annual software budget is in excess of USD 100,000.

Our vision is to become a 100 people company by 2020, operating from India, with an average revenue per employee of USD 100,000 P.A.

We are a 40 people boutique software consulting company. We design and implement software solutions to real world business problems.

ABOUT YOU

Led by a team of 3 senior technocrats and 6 mid-level project managers we have the right mix of resources to take up projects in the range of 10 people months to 100 people months. Our current technical skills are in Salesforce, NetSuite, MEAN and Microsoft Technologies. For skills other than these, we will outsource the coding part to our vendors in India while taking complete responsibility for the project design and delivery.

ABOUT US

info@bestirtech.com www.bestirtech.com