NetSuite (NYSE:N) has introduced its new OneWorld Software Company Edition designed to enable mid-market software companies to manage integrated end-to-end software business processes spanning global operations. It features renewals automation, revenue recognition, complex commission management and multi-tier channel management.

The new application can cater to any business model, from subscription billing to traditional software licensing. Its capabilities are a result of best practices gleaned from the hundreds of software companies running their operations on NetSuite. OneWorld Software Company Edition allows users to align sales with corporate goals and track external sales efforts.

"Now with NetSuite OneWorld Software Company Edition, we are offering global midsize software businesses the ability to integrate global consolidated financials in an integrated software suite that has been specifically tailored to meet the needs of software companies," Zach Nelson, CEO of NetSuite, said in a statement. "We know how a global software company works because we are one, and we have been successfully using our own software to operate our business for the past 10 years."