OpenAir is a Professional Services Automation Solution that is owned by NetSuite. It provides resource management, project management, project accounting, invoicing, and time and expense management for professional service organizations in a single application. OpenAir helps professional service organizations manage their largest expense (people) while driving revenue and improved profit margins through:
- Increased resource utilization
- Decreased overhead for project accounting and reporting
- Expedited billing
- Increased billing accuracy
- Improved on-time project delivery
Simply put, OpenAir can take the place of multiple billing applications and consolidate them into one solution.
Take the following example to see how OpenAir can improve billing management.
Agency needs to invoice more efficiently and accurately. Their organization bills for expenses and time across multiple departments and various projects. Finance also needs to be able to provide an accurate invoice to a customer at a moment’s notice.
This organization has separate systems for Project Management, Timesheet Management, and Expense Management, which are all disconnected from one another. This is a challenge for the finance team. They must collect data from multiple systems, often manually, and key in invoices into their separate financial system. In addition, they need to verify the terms of the contract or SOW with the client on the agreed upon billing terms. This manual process can lead to inaccuracies when billing the client. If the client disputes the invoice, we not only delay payment, but also affect customer satisfaction.
Not to mention, if the client suddenly asks for an invoice early, the disconnected systems will greatly hinder that process.
NetSuite OpenAir Solution
With OpenAir, you can automate project billing. Billing rules can be set up based on the service offered or the demands of the client, which then determines how the billing is automated. Finance will not have to manually enter the rules for each invoice after setting this up for each client. OpenAir lets them recoup that lost time immediately.
Even better, OpenAir provides a single platform for all project related activities from Project Management and Resource Allocation through Timesheet and Expense Management. The entire organization will only need one software platform, thus simplifying the billing process, reducing errors, and freeing up the finance department from unnecessary busywork.
Have any questions about NetSuite OpenAir or NetSuite in general? Feel free to contact us at any time!