Background The Advanced SaaS Metrics SuiteApp lets you analyze recurring revenue for Contract-based and Software as a Service (SaaS) businesses. The SuiteApp creates Contract transaction records from sales orders, invoices or CSV imports (from 3rd party systems) and then processes them for viewing as metrics on the dashboard. The different metrics available on the dashboard … Continued
BackgroundThe Advanced SaaS Metrics SuiteApp lets you analyze recurring revenue for Contract-based and Software as a Service (SaaS) businesses. The SuiteApp creates Contract transaction records from sales orders, invoices or CSV imports (from 3rd party systems) and then processes them for viewing as metrics on the dashboard. The different metrics available on the dashboard are the following:
- tiles for your company's key performance indicators (KPI’s) such as monthly recurring revenue (MRR), annual recurring revenue (ARR), total customers, new customers, churn rate and renewal rate. From the tiles, you can also view comparisons from the previous month for each of these KPI’s.
- annual recurring revenue amounts per month.
- a 12-month roll forward report with detailed ARR and MRR information for each new, downsell, renewal, upsell, or churn amounts.
- a graph that lets you compare the new and churn customer count per month.
- a report showing the customer count per month.
SetupHere’s how to set up your NetSuite account for the Advanced SaaS Metrics:
Setting items as renewableOnly transaction records with renewable items are processed and included in the SaaS Metrics dashboard computations.
Setting Advanced SaaS Metrics preferencesSuiteApp preferences define where and how to source information for processing and inclusion in the SaaS Metrics dashboard.
- Select the primary record where the SuiteApp sources information for the SaaS Metrics dashboard. You can either select sales order, invoice or CSV import.
- Select a dataset to use for the primary record. The dataset must contain the fields of the primary record that are used in the Source Record Field Mapping table (see point 9). You can use the default dataset for the primary record or create another one.
- In instances where there is separate information in fields that are available in custom records, you can use a secondary record where the SuiteApp sources information for the SaaS Metrics dashboard. Only custom records appear in the list of secondary records.
- If you have selected a secondary record, you must create a dataset for it. The dataset must contain the fields of the secondary record that are used in the Source Record Field Mapping table (see point 9).
- Check the Use Direct Field Linkage box to directly link related contracts to each other. Direct field linkage lets you manually link related contracts using a custom field. When you check the Use Direct Field Linkage box, the Original Contract Link field name mapping (see point 9) is required. You must map the Original Contract Link field to the custom field in the source record that determines the original contract. The original contract is where other contracts are being renewed from. If you do not use direct field linkage, the SuiteApp automatically predicts which contracts are related to each other based on the start and end dates, customer, item and other relevant information.
- Select the source record of the status being used in the primary record. For example, if the primary record is a transaction, the source record must be Transaction Status.
- Select the statuses of the primary record that you want to include when getting transactions for processing by the SuiteApp. If you do not select a value in the Status to Include field, all transaction statuses for the primary record are considered and processed by the SuiteApp.
- Select a start date for transactions. Transactions that start on or after this date are processed by the SuiteApp.
- Specify field mappings for the source record. Field mappings determine what fields in the source record are used for processing by the SuiteApp.
Advanced SaaS Metrics Transaction Records
SaaS Contract Transaction RecordThis record lists the processed transactions and processing details. The following are some of the information that you can find in this record:
- Contract start and end dates
- Source transaction
- ARR amount
- MRR amount
- If the contract is considered as new, renewal, upsell, downsell, or churn based on the following criteria:
- If the contract has an RMA linked to it
SaaS Processed Transaction RecordThis record lists the transaction status such as if the transaction has been successfully processed or not, including any error messages.
Known limitationsHere are some known limitations of the Advanced SaaS Metrics SuiteApp:
- The SaaS Metrics dashboard only displays data for up to 12 months from the current month.
- Data and reports in the SaaS Metrics dashboard are not in real time. There may be new transactions or changes to existing transactions that are not included in the SaaS Metrics dashboard computations until the next run of the SaaS MR Create Contract Transaction script.
- Credit memo transactions are not supported by the SuiteApp.
- For automatic contract linking, the SuiteApp can only process one renewal contract per original contract. For example, if there is one original contract and two renewal contracts, the first one will be treated as the renewal of the original contract and the second renewal is treated as a new contract.
- When exporting records through CSV in the ARR Details and MRR Details windows, there is a limit of 35,000 rows and a maximum file size of 10MB. It may take a while to export transactions that reach the transaction number limit or file size limit.
- The Advanced SaaS Metrics Suiteapp is not fully compatible with SuiteBilling, namely regarding subscription change orders “Modify Pricing” (for upsells and downsells), add-on items and returns (negative charges can only be added on credit memos which are not supported by the SuiteApp).
ConclusionThe Advanced SaaS Metrics SuiteApp provides valuable insights with native intelligence on key metrics like MRR, ARR, renewal and churn rates, though more advanced KPI’s (e.g. CAC, LTV) are not currently covered. Moreover, SuiteBilling is not entirely supported by the SuiteApp, which makes it impossible (unless through extensive customization) to benefit from its full potential. Hopefully this sits on the short-term NetSuite New Releases roadmap.
Background In most of the NetSuite implementations we perform at Novutech, there’s always the part of the integration with other software applications. These integrations can be done in multiple ways. From a semi-manual process loading data files, to building point-to-point interfaces, to implementing an iPaas. This article will tackle the integration via Workato, a market … Continued
Background NetSuite lets you create Custom Segments which are custom classification fields similar to Class, Department or Location, the out-of-the-box dimensions included in every NetSuite instance. These standard and custom dimensions are used as financial segmentation, to generate Financial or Management Reporting (vs Statutory). To complete this comprehensive set of benefits and offer even more … Continued
Background As you may know, the new release 2023.2 came out just recently and the NetSuite environment has been upgraded in the course of September. With this short article, we are providing a sneak peek into the new features that we think will be the most interesting ones. Finance & Accounting Discover a bunch of … Continued
Background Kyriba is a global leader in treasury finance solutions. Kyriba’s SaaS platform enables CFOs and finance teams to optimize their corporate treasury functions by delivering fully integrated cash, treasury, payment, risk management and supply chain finance solutions. NetSuite ERP customers will enjoy maximum benefits when using a 100% integrated NetSuite-Kyriba solution to deliver Proactive … Continued
Background After a long, cold and dark winter, spring is finally here. Flowers are blooming, birds are singing, and most importantly : NetSuite has released its first yearly update. From accounting to user interface and authentication enhancements, this brand new release will for sure meet or exceed our expectations. And if you ever feel lost … Continued
Background In its day-to-day operations, a company must offer different prices for its products depending on the customer and the product itself. For example, separate price levels can be set for retail and wholesale customers or a standard price with discounts for students and seniors can be established. NetSuite’s item pricing feature allows for the … Continued
Background When implementing an ERP, it is crucial to make sure that the users are familiar with the processes and the tool they will be using daily after go-live. Not only that, but the processes have to meet their business needs. To address these matters, every implementation project goes through a phase of user testing, … Continued
Background Transactions layouts of any type are necessary for a company. Every company has their own, customized layout. Recently, NetSuite released a bundle named Advanced Localization Features (ALF), which offers the opportunity to have top notch Invoice/Credit-Note’s layouts by default which is a game changer. Prerequisites The Advanced Localization Features bundle has for id : … Continued
Online Forms Background NetSuite offers its users to create and publish online forms available via an external URL. This feature is mostly used in the context of a marketing/CRM follow-up for example customer satisfaction survey. The information received from the online forms will automatically create or update records in your NetSuite account. This feature is … Continued