Lately I've been pondering on this question. I have this task that I need to do where I must figure out billing that fits the business requirements. It's not a simple requirement and there are many different variables on how the monthly or annual invoice is generated.
I think for most subscription based and/or fixed amount based businesses, billing is pretty straight forward. However, what about those businesses who has fairly complex process?
As I read through NetSuite documentation and posts on Forums, NetSuite provides out of the box feature for reoccurring billing process. They call it "Memorize Transaction" feature. It allows you to replicate reoccurring billing by having NetSuite "Memorize" this instance of transaction and direct it to run it on schedule of your choice. Sounds pretty simple right?
This will work as long as the items included in the invoice doesn't change or no adjustment is needed for the duration of the billing AND you don't mind making adjustments manually from time to time.
We also have NetSuites' paid featured called Advanced Billing Module I have not used it before and my opinion on this module is purely based on documentation provided by NetSuite. It seems to offer great automation and customization features than "Memorize Transaction" OOB feature. I really like the fact that it will customize billing schedule with initial amount, initial payment terms, recurrence frequency, recurrence count, in arrears, and recurrence payment terms. It definately allows businesses to take control of billing schedules.
But, does it solve the issue of varying amount invoicing? Say like cell phone billing which is based on base amount plus additional overage charge or hourly consultants billing where invoice amount is based on hours worked by the consultants? Can Memorize Transaction or ABM fully automate the process of billing for these situations?
My initial thought is no.
Ofcourse, in order to automate this type of invoicing, you need to identify and create variables that will allow custom process to calculate the correct amount.
I am thinking that for consistently varying monthly or annual invoice process, custom solution will fit better.
Sure this costs money. Most likely more than what you'll pay for ABM. However, what I like to suggest is that before you purchase ABM I think it'll be worth while to revisit the billing business requirements.
What are your thoughts?
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