As a business, you may have numerous bills and invoices to manage. Properly managing these invoices, bills, etc., can be a headache without a proper strategy or tool to help.
Although you may use top tools like NetSuite SuiteBilling to manage these invoices and bills, chances are high that you are still struggling to keep them organized. The primary reason for these challenges can be a lack of knowledge about how to use the tool efficiently and tips and tricks on how to drive maximum performance from it.
In this blog post, we will look at a few of our top tips that most NetSuite implementation consultants use to help their clients.
Let’s get started.
What Is SuiteBilling: An Overview
NetSuite SuiteBilling is a full-service, flexible billing management platform offered by NetSuite. The platform can manage different types of billing models and help businesses address diverse billing challenges.
Thanks to its popularity and billing management capabilities, many businesses offering IT consulting solutions help clients set it up and use it efficiently.
Here are a few essential features of the platform:
- Automated billing processes: The platform automates various billing processes, including invoice generation, payment processing, billing cycles, etc.
- Flexible subscription management: As a business, you may offer a range of subscriptions to your customers, and the platform lets you manage them efficiently according to your customers’ needs.
- Automated renewals and adjustments: The platform enables you to set subscriptions on auto-renewal to avoid cancellations or suspensions, with adjustments of price or subscription days.
- Changing orders: You can use SuiteBilling to organize and automate subscriptions and eliminate manual monitoring for fewer errors and accurate reporting.
How to Manage Complex Billing Models: 6 Tips to Follow in 2025
The following tips will help you manage complex billing models in NetSuite and ensure that you can easily organize them for retrieval, reviews, and auditing.
1. Learn about the current billing models.
The first thing about using the platform is to understand the billing models that the platform offers and supports.
Here are the types of billing models that SuiteBilling supports:
- One-time: This type of billing model creates a one-time charge, such as activation, setup, license fee, etc.
- Recurring: As the name indicates, this type of billing creates a charge at regular intervals, such as monthly, half-yearly, quarterly, or annually.
- Usage-based: In this type of billing, the charge is generated based on the use of the service. If you have a metered internet service or network provider, you can charge additionally if the usage quota is exhausted.
- Hybrid: In this type of billing, one of the above types of billing is combined to create a charge or bill according to the customer’s needs.
2. Improve your pricing model with different levels of plans.
SuiteBilling allows you to use different levels of pricing plans to improve your pricing model. This is highly beneficial for businesses looking to serve various segments of customers who have different needs and want limited service support.
You can define your pricing models as given below:
Flat pricing: In this type of pricing, the customer is charged flat pricing at the start of the subscription regardless of how much they use your service.
Volume-based pricing: In this type of plan, the customer is charged for the highest volume of the service used.
Tiered pricing: Here, the customer is billed for each volume of the service used by the customer.
3. Automate your billing cycles.
SuiteBilling allows you to set up Billing Schedules and Customer Billing Accounts. By doing so, you can define the specific billing frequencies that your business needs.
Your employees or accounting team can do this quite easily with the help of the Processing Billing Operations capability within the platform. Once it is set up, your account receivables team can create invoices accordingly or set the system up to do it automatically at the processing date.
This enables you to save time, human resources, and errors that might creep into the workflow with human interventions.
4. Explore new revenue possibilities.
NetSuite offers plenty of opportunities to find new revenue and grow your business. Now, with SuiteBIlling, you can take advantage of these opportunities.
You can integrate your SuiteBilling platform with NetSuite’s Advanced Revenue Recognition module to understand how you realize your revenue over a while from subscriptions.
The SuiteBilling platform can also help your business comply with standards, such as IFRS 15, ASC 606, etc., by relying on the rules available on the subscription contract or records.
This allows businesses to understand the revenue potential and opportunities for business growth.
5. Utilize efficient workflows to drive automation
Your operational efficiency is vital if your business is trying to grow. Often, a lack of efficient workflows can pull your business back from realizing its automation aspirations.
However, you can confidently do this with SuiteBilling by leveraging SuiteFlow. It allows you to automate your workflows to improve your complex processes and ensure timely payments.
You can trigger billing, create invoices, and send reminders for overdue payments.
One of the most significant advantages of doing so is that once you set it up with the help of an agency offering NetSuite integration services, it will work as per your needs for a long time without human intervention.
6 Make changes to your subscriptions based on data
SuiteBilling allows you to collect customer behaviour data through your platforms. With the platform’s help, you can quickly understand how they use your service and how frequently they log in to their accounts.
All these allow you to plan your changes to the subscription plans or pricing strategically. Using SuiteBilling’s Change Order, you can trigger a range of activities, such as:
- Subscription activation
- Subscription pricing modification
- Suspend or reactivate subscriptions
- Renew or terminate a subscription plan
With the help of the platform, you can roll out changes to your subscription plans in advance and keep the customers informed.
Streamline Your Billing Process with NetSuite
SuiteBilling offers plenty of benefits for businesses looking to streamline and manage their bills and invoicing. Many businesses already use NetSuite to streamline their operations management. However, many fall short of using the platform to its fullest extent as they lack proper knowledge and insights into the platform’s capabilities. This is where a NetSuite consulting service agency can help you.
If you are looking for an agency offering NetSuite consulting services, Big Bang can help. With years of experience and expertise on the platform, Big Bang can provide full-spectrum consulting services regarding NetSuite.
Book a free consulting call to speak to one of our experts and learn how we can help you leverage NetSuite to grow your business.
