Accurate revenue forecasting is essential for software companies relying on recurring revenue models.
However, many SaaS finance teams face hurdles in predicting Annual Recurring Revenue (ARR) and Monthly Recurring Revenue (MRR) with consistency.
Variations in churn, contract renewals, and customer upgrades often lead to unpredictable revenue streams. These inconsistencies can create major challenges for budgeting, long-term planning, and maintaining investor trust.
Further complicating matters, compliance with accounting standards like ASC 606 and IFRS 15 requires precise revenue recognition processes, which can be difficult to align with fluctuating revenue patterns.
Manual efforts to forecast or comply with these standards often result in time-consuming processes and avoidable errors.
This guide explores how NetSuite from FinanSys, with the added benefits of UniFi, can simplify ARR and MRR forecasting while addressing the challenges software companies face.
Addressing Revenue Forecasting Pain Points
1. Tailored Forecasting Tools for SaaS Models
NetSuite’s financial tools are purpose-built for recurring revenue models. Its forecasting capabilities account for key SaaS variables, including customer churn, contract upgrades, and downgrades.
This comprehensive view provides more accurate predictions, helping your team align revenue expectations with business objectives.
FinanSys adds value by offering personalised guidance, ensuring you can fully utilise these forecasting features.
With our expertise, your team can gain clarity and confidence in their forecasts.
2. Forward Postings for Long-Term Visibility
One of NetSuite’s standout features is its ability to handle future or forward postings.
This capability allows finance teams to post revenue into future periods, offering a clearer and more accurate view of long-term revenue trajectories.
This level of visibility is vital for SaaS businesses looking to manage cash flow and secure sustainable growth.
With FinanSys as your partner, we make sure your NetSuite configuration is designed to maximise this capability so you can focus on strategic planning rather than manual adjustments.
3. Streamlined Compliance with ASC 606 and IFRS 15
NetSuite automates compliance with ASC 606 and IFRS 15 by ensuring revenue is recognised accurately across contracts and performance obligations.
Manual processes that are prone to error are replaced with automated workflows, reducing the risk of non-compliance.
Our team at FinanSys ensures these workflows are tailored to your unique needs, simplifying regulatory adherence without adding operational complexity.
How UniFi Complements NetSuite for Revenue Forecasting
As a FinanSys customer, you gain access to UniFi—a next-generation platform designed to enhance NetSuite’s capabilities. UniFi brings several key benefits to revenue forecasting:
UniFi can be used to manage all aspects of your SaaS company’s planning, budgeting, and forecasting requirements. It seamlessly integrates with NetSuite and comes with a suite of customisable dashboards and reports built with advanced business intelligence features.
The UniFi platform gives you extensive features for limitless use cases. These features enable you to improve your Planning, Budgeting and Forecasting processes drastically. It can also upgrade or replace your Planning, Budgeting and Forecasting Software.
Not only can UniFi replace your Planning, Budgeting and Forecasting Software, but it can also replace all other third-party software, which will, in turn, reduce your need to manage multiple disparate systems and help reduce your costs. It’s one platform to replace them all.
Why Partner with FinanSys?
Choosing the right partner is as important as choosing the right software.
FinanSys has been a trusted provider of financial and business systems for 25+ years.
Our approach is customer-centric, with a dedicated success manager to support you every step of the way.
When you work with FinanSys, you’ll benefit from:
- A high ratio of support staff-to-customers, ensuring fast and reliable assistance.
- Expertise in NetSuite implementation, configuration, and training tailored to SaaS businesses.
- Exclusive access to UniFi at no additional cost—a powerful advantage that other providers simply can’t match.
Transform Your Forecasting Today
Accurate ARR and MRR forecasting doesn’t have to be complicated.
NetSuite from FinanSys, coupled with UniFi, offers a comprehensive solution to your revenue forecasting challenges.
Book a free consultation today to discover how we can help your SaaS finance team achieve consistent, reliable revenue predictions.
