For finance teams in SaaS companies, maintaining accurate revenue forecasts is critical to understanding business health and supporting growth strategies.
Yet, this is often easier said than done.
Managing metrics like Annual Recurring Revenue (ARR) and Monthly Recurring Revenue (MRR) alongside churn predictions can feel like navigating a minefield.
Inconsistent forecasts can derail budgeting, limit scalability, and erode investor confidence.
This challenge is heightened by the unique revenue models of software companies.
Subscription-based pricing and compliance standards such as ASC 606 and IFRS 15 add layers of complexity, making it difficult to achieve precision without the right tools.
How NetSuite from FinanSys Resolves Forecasting Challenges
1. Robust Forecasting for Recurring Revenue Models
NetSuite Planning and Budgeting simplifies the often time-consuming processes of planning and budgeting by automating workflows.
It allows finance teams to efficiently create forecasts, develop budgets, explore hypothetical scenarios, and produce insightful reports.
NetSuite is designed specifically for recurring revenue models like ARR and MRR. It provides clear insights into revenue streams, factoring in churn, contract renewals, and upgrades.
With FinanSys’ expert guidance, you can fully leverage these tools to generate accurate and actionable forecasts. We ensure your team understands the intricacies of the system and how to make it work for your business.
2. Future/Forward Postings for Proactive Planning
Unlike many financial systems that limit revenue recognition to current periods, NetSuite allows forward postings.
This feature lets you post revenue in future months, providing a more precise view of your long-term financial trajectory.
Such proactive insights make it easier to align operational decisions with financial realities.
3. Compliance with ASC 606 and IFRS 15
NetSuite integrates revenue recognition capabilities that simplify compliance with ASC 606 and IFRS 15.
By automating the allocation of revenue across contracts and performance obligations, the system minimises errors and reduces manual intervention.
FinanSys ensures your configuration is tailored to your unique reporting needs so you can remain compliant without adding complexity.
Why FinanSys?
Partnering with FinanSys for your NetSuite implementation brings additional advantages:
- Specialised Expertise: FinanSys has 25+ years of experience helping software companies optimise NetSuite for their specific needs.
- Comprehensive Support: From initial configuration to ongoing training and support, FinanSys ensures your team gets the most out of NetSuite.
- Access to UniFi: FinanSys customers gain a 1:1 UniFi licence, a powerful platform that enhances NetSuite with features like autonomous data capture, advanced integrations, and custom reporting.
How UniFi Compliments 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.
Ready to Take Control of Your Forecasting?
Accurate ARR and MRR forecasts shouldn’t be challenging.
With NetSuite from FinanSys and the added power of UniFi, your SaaS finance team can transform how it manages recurring revenue.
Book a free call with our experts today to see how we can improve your forecasting process and deliver better financial outcomes.
