Financial transformation for a global SaaS provider

Key results:

Accelerated the global financial close and improved reporting accuracy through unified data
Increased operational efficiency by automating the end-to-end quote-to-cash and procure-to-pay cycles
Established a scalable growth platform with a single ERP to handle complex billing and international accounting

Value levers pulled:

Replaced disparate legacy applications with a single cloud ERP to create one source of truth
Automated critical workflows, including contract billing and A/P, using specialized modules and OCR technology
Integrated the CRM and ERP systems to create a seamless data flow from sales to finance

Picture this...

You are a global financial technology company providing a cloud-based platform of digital solutions for the wealth management industry. As your firm experiences rapid global expansion and your client base diversifies, you now face significant operational hurdles with legacy systems. Managing multifaceted client contracts and the associated recurring revenue streams grows increasingly complex, creating challenges in accurately recognizing revenue in a timely manner. Furthermore, with a growing number of international subsidiaries, you grapple with intricate intercompany accounting and transfer pricing, while a lack of A/P automation results in manual, time-consuming invoice processing and payment cycles that hinder your ability to scale efficiently.

You turn to Accordion.

We deliver a customized NetSuite ERP solution that optimizes business processes, enabling seamless integration. Our approach includes:

Implemented a new NetSuite environment, configuring the Zone Billing platform to manage our complex contract billing and recurring revenue streams.
To handle our international accounting needs, a sophisticated Record-to-Report (R2R) solution was built for complex revenue recognition and multicurrency consolidations.
Deployed Procure-to-Pay (P2P) solution using an OCR bundle to automate our accounts payable process, from invoice capture to payment.
Optimized the integration between Salesforce and our new billing system to ensure a seamless data flow from our sales and quoting process through to finance.

Your value is enhanced.

By implementing a unified NetSuite platform, we provided transformative value by replacing fragmented, inefficient systems with a single source of financial truth. Our new automated billing and advanced revenue recognition engine gives the finance team the ability to seamlessly manage complex contracts and international accounting requirements, drastically reducing the time to close the books and improving the accuracy of financial reporting. The Procure-to-Pay automation eliminates manual invoice processing, freeing up the A/P team to focus on strategic activities while providing better control over cash flow. Ultimately, by integrating the sales and finance functions, we accelerated the entire quote-to-cash cycle, providing the critical infrastructure and visibility needed to support and scale global growth effectively.

Enhanced value:

You reap multiple benefits, including:

Accelerated the global financial close and improved reporting accuracy through unified data.
Increased operational efficiency by automating the end-to-end quote-to-cash and procure-to-pay cycles.
Established a scalable growth platform with a single ERP to handle complex billing and international accounting.
Replaced disparate legacy applications with a single cloud ERP to create one source of truth.
Automated critical workflows, including contract billing and A/P, using specialized modules and OCR technology.
Integrated the CRM and ERP systems to create a seamless data flow from sales to finance.