- Objective gained complete global visibility across 7 subsidiaries, with real-time financial reporting and consolidation across Australia, New Zealand, Singapore, the UK and US.
- NetSuite OneWorld multi-currency conversion capabilities automate transactions across multiple countries.
- Monthly financial close accelerated 3x compared to previous Excel-based manual processes.
- Reporting cycles reduced from 15 to 5 days, enabling better business visibility and productivity.
- Objective improved its data integrity and reliability, significantly reducing manual errors.
- Finance team is focused on adding value to the business rather than manipulating data across disparate and incompatible applications.
- Eliminated extended working hours for finance team during financial reporting periods, improving staff morale.
- Reporting flexibility gives the ability to run reports over bespoke multi-year time frames.
- Objective lacked a consolidated view of worldwide operations as all worldwide offices ran different accounting systems, limiting global financial transparency and leading to multi-currency reporting issues.
- On-premise solution in UK provided limited visibility and access for Australian head office.
- Manual end-of-month consolidation was slow, inflexible and prone to error.
- Key business information had to be accessed from multiple sources, delaying financial and management reporting.
- Finance team wasted time on data retrieval and compilation, rather than adding analysis and insights.
- Peak financial reporting periods necessitated extremely long hours for finance staff.
- NetSuite provides a comprehensive business management system, including global financials, invoicing, accounts payable, expenses and bank payment runs.
- Automated multi-currency conversions and local country tax compliance supports growth and efficiency of global business operations.
- Objective has new ability to seamlessly add additional processes and applications when appropriate for expanding the business; soon to roll out NetSuite payroll solution.
- Anytime and anywhere access to the NetSuite cloud allows staff to work remotely with single sign on.