How to Support a Complete Services Lifecycle from Bid to Bill

Today, completing projects faster, generating invoices more accurately and efficiently, and decreasing accounts receivable cycles are essential elements to success for service businesses across the globe. With improved cash-flow and less revenue leakage, these businesses stand a greater chance for growth.

This can only be achieved with complete visibility into and control over the entire business, in real-time. In the digital age, it is also vital that mobile services organisations have unlimited access in the cloud, from anywhere at any time.

A Comprehensive, End-to-end Services Resource Planning (SRP) Solution

All of this and more can be attained with a comprehensive, end-to-end Services Resource Planning (SRP) solution. NetSuite SRP, for example, supports a complete services lifecycle -from “bid to bill”.

According to Oracle, NetSuite SRP delivers everything from Customer Relationship Management (CRM) and Professional Services Automation (PSA), to accounting/Enterprise Resource Planning (ERP), NetSuite SRP supports the complete bid-to-bill lifecycle with

a powerful Software-as-a-Service (SaaS) suite.

NetSuite SRP’s Key Features

To support this real-time, bid-to-bill lifecycle, NetSuite SRP offers the following key features:

Project Management, Resource Management, Project Costing, Timesheet and Expense Management, Project Delivery and Billing

  • Resource management and forecasting for complete visibility into resource utilisation
  • Project costing, budgeting, and profitability reporting to determine the true cost of doing business
  • Sophisticated project accounting
  • Powerful billing rules engine to support complex client billing
  • Simple and easy timesheet management, directly integrated with project management and billing
  • Easy and flexible expense management to maximise accuracy and timelines
  • Collaborative project management to identify and resolve issues proactively
  • Greater access to information, current KPIs, and better project monitoring capabilities
  • Powerful, intuitive, configurable dashboards and key metrics reporting

Financial Management and Forecasting

  • Comprehensive financial management accelerates financial close and ensures accountability and compliance
  • Integrated quote-to-order-to-cash process accelerates cash flow, drives sales, and improves customer satisfaction
  • Powerful reporting, budgeting, and planning monitors and manages financial performance
  • Optimise cash management, reporting, analysis, and allocation in real-time
  • Revenue recognition automates and supports revenue recognition process and standards
  • Flexible bid-to-bill and recurring billing management automates billing, invoicing and complex recurring, time, and project-based billing
  • Integrated and automated contract renewal reduces cost, revenue leakage, and customer turnover

Enhanced Business Management for Global Services Organisations

  • Corporate to subsidiary real-time visibility with dashboards and reports that combine financial and operational project drivers for projects, subsidiaries, and geographies
  • Resource management that enables global businesses to match the best resource for the project based on skills, experience, and availability from a global bench, across multiple geographies, to deliver the best possible client experience
  • Automated divisional and corporate financial management and reporting that ensures an efficient and automated financial consolidation process
  • Complete multi-currency and tax management enabling service businesses to manage time and expenses, invoicing, and to recognise revenue for projects across multiple currencies and tax jurisdictions while gaining a clear consolidated view of services performance.

With more than 15 years of experience supporting services organisations of all specialties and sizes, NetSuite understands the unique requirements of running a services business. Contact Lu-Wayne Victor at or on 0727104417 and let iOCO help you make the most of NetSuite SRP.