NetSuite, Inc., the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced an increasing number of Australian companies that are outgrowing standalone MYOB accounting software and switching to NetSuite's integrated cloud business management software suite for greater functionality, efficiency and capacity for growth, including Corporate Protection Australia Group (CPA Group), Transport Management Solutions (TMS), and Mayne Publications. Upgrading to NetSuite has spared these companies from having to manually re-key data between MYOB and separate application silos for CRM, inventory and order management, ecommerce and other core business processes. By making the switch, these businesses have gained process automation and real-time visibility into critical business metrics not possible with MYOB, as well as stronger business growth by eliminating the ceiling imposed by on-premise business accounting software.
"MYOB and other business accounting software can make sense for a small company just starting out, but it can't keep up as the company grows and adds new users, products, customers, markets and revenue streams," said Mark Troselj, managing director of Asia Pacific and Japan for NetSuite. "They generally face limitations in functionality, the need for data re-entering and reconciliation and a lack of process synchronisation and visibility, which inhibits their growth potential. We've seen time and again how MYOB defectors in numerous industries have thrived in the cloud after coming to the realisation that they didn't have the right solution to enable their next stage of development."
By upgrading to NetSuite, customers report that they have been able to:
• Improve productivity and operational efficiency. NetSuite supports an entire company accounting, sales, fulfilment, order management, inventory, service, ecommerce and more eliminating the need to transfer and rekey data between MYOB and other applications.
• Enable better, faster decision-making. Real-time, anytime, anywhere access to critical information in NetSuite enables companies to seize opportunities and make better business decisions with speed and precision.
• Gain a platform for unlimited global growth. NetSuite includes built-in multi-company, multi-location, multi-currency, multi-tax, and multi-language capabilities to support global expansion across multiple locations and subsidiaries.
• Eliminate IT hassles. NetSuite's integrated cloud software eliminates software integrations and patches, upgrades, hardware maintenance and integration projects, allowing companies to focus on growing the business.
Leading Australian businesses, such as CPA Group, TMS, and Mayne Publications are raising the bar for innovation and agility with NetSuite, while liberating staff from inefficient manual work and channelling resources into value-added activity.
Corporate Protection Australia Group
Brisbane-based CPA Group (cpagroup.com.au) provides premium corporate (human and asset) protection to the oil and gas, mining, maritime and critical infrastructure industries. As the company began to diversify and expand overseas, with seven subsidiaries in four countries and three currencies, it quickly realised that MYOB was incapable of supporting its business growth. Given that MYOB does not provide multi-currency or multi-language functionality, the company turned to NetSuite's cloud-based solution in 2013 to power its financial operations, ERP, payroll and timesheet activities as well as video conference call capabilities. With a cloud-based system, CPA Group has now been able to take its accounting processes offshore, leveraging the benefits of access anytime, from any device to reduce accounting costs by approximately five sixths. Time spent closing out financial reporting periods has been slashed and the deployment has enabled CPA Group to go entirely paperless. The company expects to expand into further territories and NetSuite OneWorld is able to seamlessly and rapidly accommodate additional languages and currencies as required.
"NetSuite has paid for itself because of the quick implementation," said Alonso Vargas, chief financial officer of Corporate Protection Australia. He continued,"The biggest value add for us is the fact that we can now produce accounts on a weekly basis at the push of a button. Since deploying NetSuite we have gone completely paperless and have slashed the man hours spent compiling financial reports and analysis. Furthermore, as a time and expense based business, it has made a huge difference to our expanding employee base in terms of time spent completing timesheets, policy and procedure requirements."
Transport Management Solutions
TMS (tmsonline.com.au) is a complete transport and logistics solutions provider in Australia with offices and warehouses in Brisbane, Sydney, Perth and Melbourne. The company experienced a 75 percent increase in productivity and a 23 percent year-over-year revenue growth since making the switch from its unintegrated MYOB and SugarCRM software solutions to NetSuite in October 2011. MYOB lacked the flexibility that TMS needed for growth, with limitations in speed, number of user access accounts and customisation capability. Its personnel productivity suffered due to the need for manual double data-entry across both systems. TMS' previous environment was also not conducive to mobile access and could not be readily customised to the business' needs. The company is now using NetSuite for ERP, CRM and fixed assets, which provides the flexibility it requires to grow and manage a diversified and multi-location business. TMS has gained the agility to broaden its business into outsourced labour and services, as well as international shipping through partners. From an accounting perspective, TMS has reduced its monthly financial close time from a week to one day, with bank reconciliation processes now accomplished in a couple of hours rather than almost two days.
"What we got out of the box with NetSuite was far and above what other providers offered. Unlike our previous software, NetSuite can scale to keep up with our growth," said Mohammed Kassaby, managing director of TMS. "The productivity benefits we've seen with NetSuite have been fantastic. A task that used to take days can now be done in one hour."
Established in Sydney in 1995, Mayne Publications (trademags.com.au) is a leading publisher of eight print and digital trade magazines for landscapers, mechanics, building trades, motorcycle riders and others. It was using three isolated systems MYOB for financials, Salesforce for advertiser CRM and CRM Australia for subscription management which were a "black box" that compromised business visibility and hindered efficiency. The company faced high workloads and risk of error managing advertising quotes in Salesforce and manually inputting data into MYOB for financials and invoicing. It turned to NetSuite to provide a single, integrated cloud solution for ERP, financial management, CRM and reporting to gain greater business control and efficiency. Within six months of switching, it has already realised significant cost savings and business productivity as a result of system and process automation, including estimated savings of 250 employee hours and a 30 percent reduction in software maintenance costs every year. A previously complex and time consuming billing process can now run with 100 percent accuracy and reliability through auto-reconciliation with source transactions. In addition, lead-to-order-to-cash workflows give Mayne Publications full visibility into the sales pipeline and help accelerate cash flow.
"Our NetSuite system is working very, very well," said Jeewan Gnawali, chief financial officer of Mayne Publications. "Having all of our information in a single solution lets us focus on growing the business rather than managing day-to-day transactions in multiple systems."
For small businesses that are seeking a modern, cloud business solution to replace their existing stone-age software systems such as MYOB, JCurve (jcurve.com.au), can provide them with JCurve for Small Business, powered by NetSuite. With this solution, small and growing businesses can run their mission-critical business processes from financials/accounting, to customer relationship management, and commerce all within one single cloud solution and without a dedicated IT staff and IT overhead.
Today, more than 20,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite (netsuite.com) has established itself as the leading provider of enterprise-class cloud ERP suites for divisions of large enterprises and mid-sized organisations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations, as demonstrated by a recent Gartner study naming NetSuite as the fastest growing top 10 financial management systems vendor in the world. NetSuite continues its success in delivering the best cloud ERP/financial suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.