NetSuite Services Resource Planning (SRP) is a Software as a Service(SaaS) solutions which enable completes services lifecycle from bidding to billing. NetSuite SRP Key Benefits:
NetSuite SRP
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Streamline operations and drive profitability on entire professional services business cycle
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Sales cycle and back office process management
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Visual workflow approval and management
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Timesheet management
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Realtime global business management and financial consolidation
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Complete process accurately and generate invoices accurately
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Mobile integrations
For sales of goods and respective inventory items, NetSuite ERP features strong reporting capabilities on Gross Profit (GP) and Return on Sales (RoS) directly on the level of Sales Orders and Invoices. These capabilities empower NetSuite users to both estimate and review GP and RoS at point of sales as well as incentivise and reward their Sales Teams accordingly. For sales of project services and respective service items, Cloudmaven SRP is proud to now offer the same capabilities! Built entirely on the SuiteCloud platform stack and integrated with the NetSuite Commissions Module, Cloudmaven Lambda is a simple and lean bundle that calculates and recalculates project profitability (RoP) based on Income and Costs of Goods and Labour per Period, either on accrual basis or cash basis. At the core of the bundle are the new powerful Map/Reduce script types that :
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Call directly on invoice amounts and/or service charges, calculated opportunity costs of labour of project resources (both employees as well as 3rd party vendors) and actual overhead expenses such as travel expenses and/or advisory,
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Calculate profit and RoP per project, per period, per sales rep, and
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Split up all those profitability figures by sales transactions and respective sales reps. As costs of goods and labour are continuously added to a project and period or sales transactions perhaps credited two periods later, the bundle reviews and recalculates changes in revenue, costs, profit, and RoP and stores the changes in the System Notes, providing maximum transparency to Financial and Project Controllers. Tightly integrated with the NetSuite Commissions Module, controllers and reps can have their commission per sales transactions estimated at any point and confirmed according to internal policies, whether on point of sales, receipt of full or partial payment. As a result, financial reporting, project accounting, and sales reporting are married into the same view, based on the same data, whether they are on accrual or cash basis With Cloudmaven Lambda, Professional Services Companies can estimate, review, and reward Project Profitability like never before.