“RCP played a pivotal role in optimizing our Lead-to-Cash process, enabling us to effectively bill customers with diverse invoicing requirements while offering robust reporting functionality. I greatly appreciated the dedication and expertise of the RCP team. Throughout the implementation, they provided innovative solutions to overcome complex challenges, ensuring a smooth and successful transition.”

- AJ Miller, VP Financial Planning & Analysis at SmartRent

Background

Founded in 2017, SmartRent is a leading IoT company providing rental housing operators with smart hardware and SaaS solutions. Its technology simplifies operations, boosts revenue, and enhances the renter experience. Based in Scottsdale, Arizona, SmartRent works with 15 of the top 20 NMHC rental housing operators and has earned several industry awards for excellence in smart technology solutions.

Challenge

SmartRent faced challenges in managing subscription billing, collections, and tax compliance processes. With multiple hardware options — varying by size, finish, features, and model — the complexity extended to linking subscriptions to specific properties where the hardware was installed.

This required precise tracking and alignment across properties, hardware, and subscriptions. Additionally, integrating CRM and ERP systems was critical for automating order entry, optimizing revenue recognition, improving cash collection, and ensuring seamless data flow to manage complex product and service relationships.

Solution

RCP collaborated with SmartRent, 360 Cloud Apps, and Cloud Giants to implement the 360 Subscription Billing module, designed to integrate seamlessly with NetSuite and Salesforce CPQ. A pre-built connector was used to automate data synchronization.

To further optimize the system, the team re-implemented the NetSuite Advanced Revenue Management (ARM) module, automating revenue accounting processes. These enhancements streamlined billing, simplified subscription renewals, improved revenue accounting accuracy, and ensured precise tax compliance with AvaTax. RCP also eliminated manual processes by enabling automated invoicing and an optimized collections process. Centralized subscription data now supports detailed reporting on key metrics, including ARR, churn, and renewal rates.

Impact

By implementing a holistic solution across Salesforce and NetSuite, SmartRent has achieved significant efficiencies. The team has transitioned from recurring manual tasks to focusing on strategic, value-added activities.

“Our goal was to scale subscription billing in NetSuite, and we gained seamless CRM-ERP integration as a bonus. Reporting on ARR, churn, and renewals has already had a significant impact. RCP’s expertise with Salesforce, 360 Subscription Billing, and NetSuite has been outstanding, and we look forward to continuing the partnership!”

- Jessica Lee, Director of Accounting Operations, SmartRent