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NetSuite Advanced Revenue Management

What is NetSuite Advanced Revenue Management?

NetSuite Advanced Revenue Management (NetSuite ARM) is a module in the NetSuite ERP platform designed to help businesses manage and automate complex revenue recognition processes. It is particularly helpful in allowing organizations to become and stay compliant with accounting standards like ASC 606 and IFRS 15.

NetSuite ARM uses a rules-based event framework to automate every aspect of recurring revenue, including forecasting, allocation, recognition, reclassification, and auditing. A native SuiteApp like ZoneBilling can extend NetSuite ARM even further by ensuring you remain compliant with global accounting standards and recognition regulations, including IFRS 15, ASC 605 and ASC 606.

Related terms

ASC 606
Accounting Standards Codification (ASC) 606 is a standard framework for revenue recognition developed by the Financial Accounting Standards Board (FASB) for companies operating within the United States.
Accounts Payable Automation
Accounts payable automation (AP Automation) refers to the use of technology and software solutions to streamline and optimize the accounts payable process within an organization.
Accrual Accounting
Accrual accounting is an accounting strategy that records payments and expenses when they are earned and incurred. This is different from cash accounting where revenue is recognized when it is actually deposited or transferred. 
Advanced Billing
Advanced billing refers to sophisticated billing practices or capabilities that go beyond basic billing functionalities to address complex billing scenarios, accommodate specialized pricing structures, and support advanced revenue recognition requirements.
Annual Contract Value (ACV)
Annual Contract Value (ACV) is a metric used to assess the average yearly revenue generated by a single customer contract. It helps businesses understand the annualized worth of their customer base, focusing on recurring revenue streams.
Automated Clearing House (ACH)
An Automated Clearing House (ACH) is an electronic network that facilitates the transfer of funds between bank accounts in the United States (and internationally with some variations).