Consulting firms are always on the hunt for ways to improve the efficiency of their staff, project profitability and client satisfaction. The continuous shifts in their buying behaviours and new technologies emerging up, this means the duration and staff allocation of each project can keep on varying making it difficult to identify the right staff allocations and revenue at a given time. This means that they need a system that can help them address these challenges. NetSuite helps consulting firms address these challenges by providing a full suite of tools to tackle their top pain points.
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In the consulting industry a project can last longer than 12 months and involve transformational changes. Based on the time the sale occurs, the revenue earned has to be recognized at different times depending on whether it is recognized as revenue in a particular period or not. Netsuite offers an integrated platform that allows you to classify revenue across present, deferred, and forecasted amounts. With a clear view into the entire revenue recognition process, you can save time and money, while eliminating costly errors. Get a clear view of revenue by account, customer, project or even geography.
Project management is a critical part of any consulting firm. It’s a process that helps the firm manage its resources, which in turn allows it to work more efficiently. Having multiple projects being carried out at single time could be a challenging process for the Senior partners in a consulting firm. Therefore, it is important to ensure that the right resources are allocated to the right projects or clients at a given time to achieve maximum efficiency. Achieving this manually can be a daunting process. Netsuite offers the right integrated solution for project management which allows you to plan ahead of the project and effectively define tasks of a project in a planned sequence of execution.