Objective Corporation

"NetSuite OneWorld not only meets our current needs, but gives us the scalability to seamlessly add products and solutions as required in the future." Objective Corporation

Customer Successes

  • 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.

Challenges

  • 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.

Solutions

  • 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.

Company at a glance

logo-ct-objective-corporation

Location:

Sydney, Australia

Industry:

Content, collaboration and information sharing solutions for the public sector and regulated industries

Applications Replaced:

MYOB in Asia Pacific, Sage in United Kingdom and Excel spreadsheets

Solutions:

NetSuite OneWorld