Correct Implementation of NetSuite Paves the Way for 3 New Acquisitions
OVERVIEW
An Office Space Management SaaS company (Client) that helps organizations optimize the use of workplace resources, including the management of a company’s real estate portfolio, infrastructure, and facilities assets had become recognized as a leader in its space. As a high growth company, the Client was purchased by a leading Private Equity Firm. In preparation for moving to the next level of expansion, the Private Equity Firm required the Client to migrate away from QuickBooks to NetSuite. With a newly hired CFO, the Client optimistically began to engage with a third party team for implementation.
APPROACH
Shortly after beginning implementation, the Client realized it did not have the bandwidth to provide the data and transactional information needed to make the conversion from QuickBooks to NetSuite happen. To add fuel to the fire, the Client acquired two new organizations, each having hundreds of subscription packages and schedules. These additions alone increased the data migration by over 500%! With a substantial increase in data migration, new acquisitions, and a lack of team bandwidth, the Client was well behind (6 months) its anticipated Go Live date.
Bridgepoint Consulting was initially hired to assist with an upcoming Audit preparation but was quickly recognized for its experience in NetSuite implementation during internal conversations. Due to frustrations working with it’s third party implementation team, the Client’s CFO engaged Bridgepoint Consulting to take over implementation with a Go-Live date of 3 months.
With a 3rd acquisition in the pipeline shortly after engaging, Bridgepoint Consulting quickly met with the necessary stakeholders to understand the implementation’s needs. Upon discovering the Client’s priorities, Bridgepoint Consulting also decided to implement ancillary services, such as Avalara, as well as merchant services and billing solutions. Along with NetSuite, these systems would allow the Client the ease and transparency of reporting they so desired. Bridgepoint took over the NetSuite implementation and planned for a Go Live date of January 1st, for all newly acquired companies, a mere three months after engaging with the Client.
RESULTS
Despite new acquisitions and multiple holidays, Bridgepoint Consulting successfully delivered on the implementation of NetSuite and ancillary services for all entities by the January 1st deadline. The Client can now present consolidated financials to the PE firm straight from their ERP rather than consolidating in an excel file. Since the implementation of NetSuite, the Client has also been able to easily integrate a new acquisition due to the work Bridgepoint Consulting performed.
