Enhancing quote-to-order and record-to-report processes for a software co. ​

Picture this...

You’re a recently acquired education software company, and you need to reevaluate your finance function. After completing a finance function assessment that evaluates your finance and accounting business processes (benchmarking the current organization structure and reviewing your business technology environment), we uncover several areas where you can improve your finance function to streamline operations and scale for growth. Now, you need help enhancing these areas. ​

You turn to Accordion.

Your sponsor engages us to partner with your team to improve your finance function. We start by making a list of priority quick-win initiatives, which include improving the quote-to-cash and record-to-report process areas. We enhance your quote-to-cash process by:​

• Providing technical accounting expertise and process excellence to implement ASC 606.​
• Leveraging NetSuite’s full potential to automate revenue recognition. ​
• Integrating the CRM (Salesforce) with NetSuite and working with your Salesforce team and NetSuite SMEs to enable efficient integration between the platforms.​
• Recommending and assisting in implementing NetSuite’s advanced revenue recognition.​

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Enhance your record-to-report process by:​

• Leveraging NetSuite’s chart of accounts segmentations to accurately classify transactions for reporting purposes. ​

Your value is enhanced.

As a result of the process improvements, you successfully shorten the month-end close by several days and reduce the number of resources involved in your deferred revenue calculations and recognition and monthly reporting processes—all using a tool you already owned. ​