About the Client
The client provides security, networking, and storage products based on network appliances and cloud services. The company's security products protect against email, web surfing, hackers, and instant messaging threats such as spam, spyware, trojans, and viruses. The company's networking and storage products include web filtering, load balancing, application delivery controllers, message archiving, NG firewalls, backup services, and data protection.
This organization was facing issues with consolidations and period close. They were manually collecting data from multiple systems and importing it, which resulted in delays and errors. Incorrect subscription-based billing, integration and process gaps were other issues. With our comprehensive services, we provided an automated solution that remedied all their problems.
Financial data residing in multiple systems was the major pain point that triggered the need for merging. Furthermore, revenue allocation and recognition issues were slowing down the period close process.
The company was looking for an implementation partner to handle financial, procurement, sales, and revenue process implementation for the acquired company and support all process areas within the NetSuite and Avalara bundle.
Jade Global needed to meet the client’s requirements related to financial accounting, procurement and FAM implementation, multi-book accounting for EMEA, and integration with six different banks for payment processing. The company was looking for an implementation partner to handle the acquired company's financial, procurement, sales, revenue implementation, and support all process areas within NetSuite – Procurement, Sales, Financials & Revenue Management, including the Avalara bundle.
- Financial, procurement, and FAM implementation, multi-book accounting for EMEA (8 entities).
- Integration with six different banks for payment processing
- Financial, procurement, sales, and revenue process implementation for the acquired company
- Support all process areas within NetSuite – Procurement, Sales, Financials & Revenue management
- Support third-party apps – Avalara, Zone Advanced Billing, Celigo CAM, MerchantE Netherland warehouse implementation
- The transition from Avalara API to Avalara bundle
Consolidation was an issue as financial data was residing in multiple systems
Delay in the period close as consolidation process took time and involved manual import
Incorrect subscription-based billing for certain SKU’s resulted in revenue leakages
The team at Jade has a proven track record of implementing, upgrading, and maintaining NetSuite for global organizations. Having successfully delivered solutions to customers across the globe, we understood the complexity involved in managing NetSuite ERP and accounting processes. As part of our ongoing implementation efforts, we streamlined the process for the organization’s EMEA entities and successfully transitioned them to the Avalara bundle. We offer ongoing managed services and support by leveraging best practices and solutions that have enabled them to efficiently manage their NetSuite application.
This initiative has enabled our client to manage all their EMEA entities within one system.
- Make EMEA Transition Easier
- Successful implementation for UK and EMEA entities
- Ongoing implementation for the acquired entity
- Successfully transitioned to Avalara bundle, resolving several API issues related to taxation
- Successful rollout of the Netherlands warehouse and adherence to regulatory compliance
- Fixed configuration issues that resulted in accurate invoicing
- Identified and fixed incorrect pricing issues, which resulted in accurate revenue allocation and recognition
- Single source for multiple entities resulted in faster period close and accurate consolidation without delays
- Eliminated manual tracking for intercompany transactions and auto-elimination ensured faster period close and compliance
- Correct taxation for shipment from Netherlands warehouse and proper invoice format ensured regulatory compliance
- Increased revenue due to stoppage of revenue leakage
- Automation in billing helped eliminate manual processes and brought efficiency