Why Fast-Growing Software Companies Leave QuickBooks and Adopt NetSuite Financials to Accelerate Growth

The software industry changes at a frantic pace.

To adapt in this dynamic environment, organizations must be able to quickly respond to changes in market conditions, market opportunities and evolving customer expectations. Though most recognize the need to innovate, software companies have a remarkably difficult time finding business applications that can meet their needs in an effective, yet affordable manner.

Young software companies have been forced to rely upon a hairball of dangerously unreliable spreadsheets and limited point solutions like QuickBooks. The relatively low cost of maintaining those systems masks the cost of inefficiencies in routine tasks like the monthly close or, more importantly, the dissemination of reliable information upon which business decisions can be confidently made in a fast-paced environment.

Software companies are especially challenged. How can spreadsheets handle complex revenue recognition and fluid pricing models? How can “make do” accounting systems support strategic questions like:

• What was new business ARR?

• Did we expand ARR through customer upsells?

• How much ARR was lost through downgrades?

• How many customers churned?