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How Businesses Conquer Challenges: 3 NetSuite Case Studies To Learn From

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What do a premier education group, a locally-grown luxury boutique hotel group and a micromobility sharing service have in common? All three had issues with their accounting processes, lack of visibility in accessing accurate information and long hours of reporting that were addressed by Oracle NetSuite ERP.

Oracle NetSuite is a cloud ERP system that automates your core processes and helps you manage key operations from accounting to warehousing with real-time visibility and control.

Below are a few benefits of Oracle NetSuite:

  • Simplify complex processes like revenue recognition & amortisation
  • Accelerate planning & accuracy with intuitive budgeting & forecasting tools
  • Build in-depth reports easily, and refine your planning with what-if scenarios

Read on to see how these fast-growing businesses across various industries leveraged NetSuite ERP to overcome unique challenges and optimise processes.

 

1. XCL Education Group


Source: XCL Education

 

Benefits Gained from NetSuite ERP

🕒 75% Reduction in Time for Month-end Closing
🏫 Increased Standardization of Financial Processes and Roles
📉 66% Reduction in Accounting Systems and Chart of Accounts in 2 Countries

 

XCL Education initially came into being by merging several established schools, each with its unique operational methods and a number of new development sites. Backed by institutional shareholders such as TPG and Temasek, the group serves 21,000 students in more than 18 campuses throughout Southeast Asia.

This merger presented an immediate challenge: the diverse use of various financial systems and accounting frameworks among the schools made the task of overseeing the collective finances a complicated and disorganised endeavor.

The process of financial reporting was particularly convoluted, as each school had its own schedule for reporting at the end of the month, ranging from two weeks to a month.

In selecting an implementation partner for NetSuite, XCL Education opted for AFON based on recommendations and due diligence. The adoption of NetSuite provided XCL Education with a unified system for financial reporting and approval across all its member schools, enhancing visibility and control over these processes.

Learn more about how the implementation of NetSuite benefitted XCL Education here.

 

2. Naumi Hotels


Source: Naumi Hotels

 

Benefits Gained from NetSuite ERP

🕒 66% Reduction in Time to Close Financial Reports
🚀 200% Increase in Speed for Auditing
🕒 50% Reduction in Time for Consolidation Across All Hotels

 

Naumi Hotels is a locally-grown luxury boutique hotel group which takes pride in reinventing the hospitality experience with designer aesthetics, luxurious comfort, and bespoke hospitality experiences. They operate seven establishments in Singapore, Australia and New Zealand.

The hospitality label was handling their business operations using simple accounting software and a separate financial system, which were not enough for their increasing demands. Their legacy system was missing essential features needed for their growth, like financial integration and management analytics.

Naumi Hotels is a locally-grown luxury boutique hotel group which takes pride in reinventing the hospitality experience with designer aesthetics, luxurious comfort, and bespoke hospitality experiences. They operate seven establishments in Singapore, Australia and New Zealand.

Additionally, the hotel's employees had to input financial information by hand with the accounting software, which made it harder to produce reports and slowed down the process of making important decisions for the major investors.

After assessing their business requirements, Naumi Hotels chose NetSuite as their preferred Cloud ERP solution. This choice was made because NetSuite was easy to use, had a user-friendly interface, and could grow with their business, all while providing the required functionalities for their plans to expand across different regions.

Take a look here to understand more about the challenges Naumi Hotels went through.

 

3. Beam Mobility


Source: Beam Mobility

 

Benefits Gained from NetSuite ERP

🕒 120 Man Hours Saved Each Month
💰 300 More Transactions Per Month
📊 50% Reduction in Reporting Errors

 

Beam Mobility Holdings Pte Ltd runs an e-scooter sharing service across Asia-Pacific region. With six regional offices, the startup aims to develop mobility frameworks that suit each city's exclusive needs. Beam had become dependent on Excel for its bookkeeping tasks, such as managing payroll, keeping track of vendors, preparing financial statements, and analysing reports. This led to increasing challenges in monitoring the business, causing a loss of valuable time and a rise in mistakes.

To address this issue, Beam required a solution that could streamline its operations and accounting processes across both the main and subsidiary entities. This involved handling accounts in various currencies, which needed to be converted to Singapore Dollars on a regular basis.

After discussions with AFON, the company chose Oracle - NetSuite ERP as it offered the necessary functionalities for their ongoing growth. A key feature that attracted them was the financial management module, which offered significant time savings through real-time currency conversion and consolidation across all subsidiaries.

Click here to learn more about Beam's successful implementation.

 

NetSuite ERP Benefits Fast-Growing Companies 

Whether your business is a startup or a large corporation, NetSuite ERP can support your expansion goals and processes with powerful, scalable benefits.

These include money saved, time saved, staffing flexibility, faster innovation, and increased control over internal resources, among other compelling benefits.

As a leading Oracle NetSuite ERP partner and vendor in Singapore, we help all kinds of businesses to overcome their difficulties. We’ve won many awards over the years. Awards like the Enterprise E50, Top SME 1000, Partner of the Year, Best Implementation Partner, & Highest Achiever in S.E. Asia. Needless to say, our ERP consultants are qualified accountants and/or certified IT professionals

To find out more about how Oracle NetSuite can benefit your business, click on the image below to download the solution brief of the leading Cloud ERP software in the market today.

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