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www.curiousrubik.com Office:+1 646 459 2754
Overview
– Provider of online
publishing services
– 30 million readers per
month
– Based in New York, NY
– Replaced QuickBooks and
Excel with NetSuite
OneWorld
Challenges
Operational inefficiencies hindered growth
Difficulty optimizing complex, multi-dimensional
advertising contracts using QuickBooks
Lack of consolidated financial information
Inefficient revenue recognition and limited business
visibility
NetSuite Benefits
Deployed NetSuite OneWorld in 60 days – 4 subs
including 2 international –
15% YOY but have not had to hire anyone.
Global visibility tax
Integrated accounts payable and receivable – one person
does AR processes cut bookkeeping costs by 20%
NetSuite OneWorld Reduced Gawker
Media’s Bookkeeping Costs by 20%
Our processes are integrated and automatic, and our analysis is based on
dependable, up-to-the-minute information. – Controller, Gawker Media“
Overview
– Global eCommerce platform
and applications provider
– Based in CA
– Accessed by over 200
million consumers, 10 million
businesses and 1.2 million
national and local merchants
– Selected NetSuite OneWorld
over Oracle and MS
Dynamics
Challenges
Needed to have financial processes and reporting
similar to public companies
Financial consolidation across 5 subsidiaries including
international sub was manual and time consuming
Could not provide required transparency to auditors
for recurring revenue
NetSuite Benefits
Gained complete trust of auditors by providing access
to financial data and robust audit trail capability
Automated AP, PO and invoicing processes reducing
errors and close time by 50%
Financial consolidation in real-time with accurate
reporting across 5 subsidiaries
Rearden Commerce Gained Controls &
Accurate Reporting With NetSuite
I can sleep better knowing that the numbers are accurate in our internal and
external reports.
- Corporate Controller, Rearden Commerce
“ ”© NetSuite 2012
Overview
– Leading provider of cloud
phone system for business
– Based in CA
– 1200 employees
– Offices in UK, Canada and
China
– Replaced QuickBooks with
NetSuite OneWorld to
manage worldwide
business
Challenges
Unable to meet EITF 0801 compliance requirement for
revenue recognition
Lacked necessary controls in QuickBooks to support
robust growth and auditability
Could not manage Fixed Assets, multiple sub-ledgers
and consolidation efficiently
NetSuite Benefits
Attained EITF 08-01 compliance with sophisticated
revenue recognition functionality
Accurate reporting and 50% faster close time with
single version of truth
Efficient management of Fixed Assets with automated
PO and AP processes
RingCentral Achieves Revenue Recognition
compliance
It was not just about the cost saving a cloud solution offers – we also needed a
solution that could scale with us and offers the necessary controls and audit
capabilities. We got that with NetSuite. - Assistant Controller, RingCentral
“
© NetSuite 2012
Overview
‒ Provider of software and
services solutions to the
telecoms industry
‒ 500+ employees
‒ Privately held
‒ 21 offices across North
America, Europe & Asia
‒ Replaced Sage,
Peachtree, home grown
systems & spreadsheets
‒ Running NetSuite
OneWorld and OpenAir
Challenges
Struggled to manage 14 subsidiaries in 12 countries,
this limited financial consolidation to once per year
Manually intensive rev rec exercise due to reconciling
data between disparate systems
No visibility into the profitability of their fast-growing
professional services line of business
Results
Tripled the business with only a 30% increase in
Finance and IT staff
Automated rev rec calculations and JEs. Real-time
deferred revenue reports with audit trails
Centralized view of PS projects and resources with
visibility into project-level profitability
NetSuite OneWorld Automates Global
Financial Function at Mycom
With NetSuite we eliminated the headache of multiple systems and over 250
spreadsheets. We now have consolidated global financial reporting on a monthly
basis and we can set up a new subsidiary in less than an hour. - Controller, MyCOM
“
www.curiousrubik.com
@curiousrubik

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NetSuite Controller_Customer Case Study - CuriousRubik

  • 2. Overview – Provider of online publishing services – 30 million readers per month – Based in New York, NY – Replaced QuickBooks and Excel with NetSuite OneWorld Challenges Operational inefficiencies hindered growth Difficulty optimizing complex, multi-dimensional advertising contracts using QuickBooks Lack of consolidated financial information Inefficient revenue recognition and limited business visibility NetSuite Benefits Deployed NetSuite OneWorld in 60 days – 4 subs including 2 international – 15% YOY but have not had to hire anyone. Global visibility tax Integrated accounts payable and receivable – one person does AR processes cut bookkeeping costs by 20% NetSuite OneWorld Reduced Gawker Media’s Bookkeeping Costs by 20% Our processes are integrated and automatic, and our analysis is based on dependable, up-to-the-minute information. – Controller, Gawker Media“
  • 3. Overview – Global eCommerce platform and applications provider – Based in CA – Accessed by over 200 million consumers, 10 million businesses and 1.2 million national and local merchants – Selected NetSuite OneWorld over Oracle and MS Dynamics Challenges Needed to have financial processes and reporting similar to public companies Financial consolidation across 5 subsidiaries including international sub was manual and time consuming Could not provide required transparency to auditors for recurring revenue NetSuite Benefits Gained complete trust of auditors by providing access to financial data and robust audit trail capability Automated AP, PO and invoicing processes reducing errors and close time by 50% Financial consolidation in real-time with accurate reporting across 5 subsidiaries Rearden Commerce Gained Controls & Accurate Reporting With NetSuite I can sleep better knowing that the numbers are accurate in our internal and external reports. - Corporate Controller, Rearden Commerce “ ”© NetSuite 2012
  • 4. Overview – Leading provider of cloud phone system for business – Based in CA – 1200 employees – Offices in UK, Canada and China – Replaced QuickBooks with NetSuite OneWorld to manage worldwide business Challenges Unable to meet EITF 0801 compliance requirement for revenue recognition Lacked necessary controls in QuickBooks to support robust growth and auditability Could not manage Fixed Assets, multiple sub-ledgers and consolidation efficiently NetSuite Benefits Attained EITF 08-01 compliance with sophisticated revenue recognition functionality Accurate reporting and 50% faster close time with single version of truth Efficient management of Fixed Assets with automated PO and AP processes RingCentral Achieves Revenue Recognition compliance It was not just about the cost saving a cloud solution offers – we also needed a solution that could scale with us and offers the necessary controls and audit capabilities. We got that with NetSuite. - Assistant Controller, RingCentral “ © NetSuite 2012
  • 5. Overview ‒ Provider of software and services solutions to the telecoms industry ‒ 500+ employees ‒ Privately held ‒ 21 offices across North America, Europe & Asia ‒ Replaced Sage, Peachtree, home grown systems & spreadsheets ‒ Running NetSuite OneWorld and OpenAir Challenges Struggled to manage 14 subsidiaries in 12 countries, this limited financial consolidation to once per year Manually intensive rev rec exercise due to reconciling data between disparate systems No visibility into the profitability of their fast-growing professional services line of business Results Tripled the business with only a 30% increase in Finance and IT staff Automated rev rec calculations and JEs. Real-time deferred revenue reports with audit trails Centralized view of PS projects and resources with visibility into project-level profitability NetSuite OneWorld Automates Global Financial Function at Mycom With NetSuite we eliminated the headache of multiple systems and over 250 spreadsheets. We now have consolidated global financial reporting on a monthly basis and we can set up a new subsidiary in less than an hour. - Controller, MyCOM “