Case Study Overview
Know how Jade Global streamlined the processing of Customer Lease Deposits, Lease Changes, Tenant Invoicing, Landlord Bills and Payments, faster and more accurate handling of various business processes, with NetSuite integration using Boomi.
About the Client
Zeus Living makes one feel at home wherever opportunity takes you. Whether it's for a month, a year, or sometime in between, you can count on a thoughtfully designed home and a comfortable, easy stay. Our technology helps us select homes you'll love in ideal locations at a good value, while our expert team handles all the details. Backed by Airbnb, Comcast, Bowery, and Initialized Capital, Zeus has raised $90M in funding and is based in San Francisco and operates in the Bay Area, Los Angeles, New York City, Seattle, and Washington, D.C. To date, Zeus has hosted more than 17,000 residents for over 500,000 nights.
Business Requirements and Challenges
Zeus Living was facing rapid growth and needed to implement a full end-to-end ERP solution in place of the Quickbooks Financials in the area. Below are the requirements and challenges met by Zeus requiring it to move to a full ERP platform.
- Have a centralized financial system to manage all general ledger functions and financial reporting
- Automate the P2P from purchase orders, approvals, receiving, vendor bills, and vendor payments
- Manage inventory functions across different warehouse locations by manually tracking inventory transactions like receipts, distributions, transfers, and adjustments, including the kitting of items (BOM)
- Receive inbound leasing arrangements and lease adjustments from Zeus Platform for invoice processing, payments, collections, and revenue recognition
- Implement and utilize extended lease management capabilities of NetLease
- Lot of effort to find and calculate the security deposit, and unable to partly refund from Stripe
- Manually creating consolidated invoices for Corporate customers
- A lot of manual intervention is required when the resident changes the dates on the lease or add/remove services
- No ability to generate future invoices and accept payment and give a discount for early payment
- Manual approvals for concessions, POs, etc.
- Lack of control over the accuracy and accounting of rent payments to landlords
- Lack of centralized utility payment methods for around 20 vendors leading to Reconciliation issues
- Inaccurate/incomplete inventory tracking and warehouse management
- COVID-19 impacted the Hospitality industry ane Zeus had to develop new revenue-generating models such as REVSHARE, Marketplace, and Partner listings
End-to-end ERP on NetSuite OneWorld with Financials, Inventory, fully integrated with Zeus Platform using state of the art Boomi integration
- Implemented Stripe - NetSuite integration using Dell Boomi for Security Deposit Refund
- Implemented standard NetSuite Consolidated Invoicing solution
- Implemented NetLease SuiteApp for efficient lease management
- Developed custom workflows for various approvals
- Developed Vendor Bill custom solution for automating Landlord monthly payments
- Created 'Listing' as a custom record along with various Utility data mapped per Listing
- Standard NetSuite Inventory for better Inventory tracking and Warehouse management
- Developed custom reports for analyzing profitability at the Property / Listing level
- Standard NetSuite Period Close checklist to manage close activities, which will help in a faster period close
On behalf of the Zeus Team, thank you Jade Team, for your diligence and support from pre-go-live to post-migration. Thank you for your responsiveness, can-do attitude, and countless sleepless nights to resolve P0 and P1 JIRA's. We appreciate your continued support on various projects, which will improve how we utilize NetSuite to meet our business requirements. Thank You.
- Casey Hui, Head of FINOPS, Zeus Living