A faster period-end process facilitates finance team to provide executives with more timely access to the latest profitability, cash flow and business efficiencies insights, enabling them to make quicker and better-informed decisions. And, the role of CFO will have the right numbers to oversee and influence over decision-making processes to drive business value in key departments.
- The story of Amobee, a global Marketing Tech company, recently expanded from 20 offices of 600 staff to 30 offices of 1,000 staff worldwide and successfully integrated their global finance and operational systems in just 6 months. Executives now have a 360-degree view of global business profitability and can track the order-to-general ledger lifecycle with just one click for data-driven analysis and decisions.
- Amobee has been able to reduce its close cycle from an average of 10 days to three days.
- Amobee can now capture actual spend and the average rate of spend, reducing the amount of defects or billing errors at the invoice level by 80%.
Most prominent, measurable outcomes in 6 months are:
The efficiency of Amobee is contributed by moving from a mix of disparate systems to a single, unified cloud-based business management suite. The global digital marketing software and services provider now enjoys full transparency to view expenditures and revenue on a daily basis. Amobee is focused on generating business value through more effective interactions between the people who work at the company, its customers and suppliers.
Are these challenges familiar to you?
- Multiple systems—financials from Microsoft Dynamics AX, CRM from Salesforce.com, and separate campaign and client services management systems—lacked bi-directional integration, limiting visibility and insight into customer lifecycles, preventing the business from scaling.
- Staff had to effectively shut down the business one week a month to update transactions within the separate systems. Staff were forced to manually re-enter data from one system to another resulting in duplicate data entry and potential lost revenue generation opportunities.
- Time spent on transactions and systems maintenance left less time for improving engagement with customers, partners, and suppliers.
- Amobee was also unable to source and then provide the performance data required by some of its customers.
A Practical guide to speed up your financial close period.
- Amobee chose NetSuite OneWorld over SAP Business All-in-One because it needed a single, unified global cloud-based business management suite, which could support its growth. Amobee also wanted to work with a company with cloud DNA with experience of the advertising vertical.
- Amobee transacts business in over a dozen currencies and simultaneously went live with a single global instance of NetSuite OneWorld for its APAC, EMEA and North America regions.
- Customization to support the spend models needed by a provider of digital marketing software and services to advertisers, publishers and operators is easy within NetSuite OneWorld.
- Today integration into multiple in-house and external platforms enables real-time fulfilment of advertising services via NetSuite web services and through the cloud connectors provided by NetSuite partner Informatica.
At ONE Pacific, we will accompany you to assess your end-to-end finance operation process to strategize finance automation and realist business value. See our Rapid Result Approach: