Case study: NetSuite supports growth in global company

A public technology company with over 400 employees offering digital publishing services.

The situation

They were running QuickBooks, which wasn’t keeping up with their growth. With global growth, they needed an enterprise resource planning (ERP) system capable of supporting multicurrency, multicompany consolidation and elimination.

Several pain points included:

• A tedious manual process for reconciling internal subscription billing data to the bank and payment gateway used for collections.
• Lack of integration between homegrown system for subscription billing and QuickBooks
• A manual spreadsheet-based revenue recognition and purchasing process

The solution and results

Advisors started with a needs assessment and documented the systems requirements to support the growth they were achieving. From there, we managed the ERP system evaluation and selection, through requests for proposals (RFPs) and vendor demonstrations.

With NetSuite chosen as the new ERP system, the firm provided implementation advisory and quality assurance services throughout the implementation by the selected 3rd party NetSuite provider, for a successful go-live.

Beyond the NetSuite implementation, the firm provided review and recommendation services for integration with payment gateway and implemented a NetSuite multi-company consolidation module.

With new systems in place, the client achieved greater efficiency, timely data and insightful key performance indicators (KPIs) to make decisions through:

• Automated customer billing and payment reconciliation
• Real time integration between ERP system and homegrown subscription billing system
• Elimination of spreadsheets for tracking deferred revenue recognition
• Replacement of paper-based purchasing with full system-based approval process
• Consolidated reporting across entities with auto-elimination of intercompany entries