NetSuite Adds ERP Modules To Online CRM

NetSuite Revenue Recognition Module and NetSuite Advanced Financials Module both combine with NetSuite, the San Mateo, Calif.-based company's flagship hosted software.

"With this advanced ERP, we're taking companies off the near abacus-like financial tools they're using and putting the more sophisticated tools they need in their hands to manage the complexities of their businesses," said Zach Nelson, the chief executive of NetSuite, in a statement.

Revenue Recognition provides a system of checks and balances for review, approval, and execution of revenue, said NetSuite, and is designed to help companies keep in compliance with accounting standards such as GAAP. This module is available now and costs $499 a month.

Advanced Financials Module, meanwhile, includes a number of tools that let managers allocate costs by account, class, department, or location; automate billing schedules and commission payments; create multiple budgets to account for several scenarios; and work on budgets offline by using spreadsheets, then importing the results into NetSuite. The financials module is also available immediately, but is priced at $199 per month.