Nonprofit Company Increases Operational Efficiency & Enhances Financial Reporting via NetSuite ERP Implementation

Before Bridgepoint:

• Lack of in-house resources and expertise
• Inefficient NetSuite configuration
• Lack of real-time visibility

After Bridgepoint:

• Increased operational efficiency
• Enhanced financial reporting
• Comprehensive ERP solution
• Time & money saved

Project Overview

A nonprofit organization dedicated to building affordable housing and fostering community development engaged Bridgepoint’s FiT for NetSuite team to implement NetSuite ERP, streamline operations, and improve financial reporting.

Business Challenge

The client started implementing NetSuite when they realized they needed additional guidance to ensure a successful outcome. As a nonprofit organization, they faced unique challenges in managing complex financial transactions associated with their construction projects. Additionally, the client was unable to implement a new ERP system themselves due to limited in-house resources and expertise.

Approach

Our FiT consultants started with a deep dive into the organization’s business processes, including expense allocations, project management, and reporting needs. Next, we developed a comprehensive project plan with an aggressive go-live date, three months ahead of the original schedule.

Key steps in the implementation included:

• Design and Configuration: Our FiT team reviewed and redesigned the Chart of Accounts (COA) and Segmentation to align with the client’s reporting requirements. We also determined that the NetSuite Projects Module was unnecessary and provided an alternative approach for cost reporting using NetSuite’s Segmentation and COA.
• System Enhancements: Our team recommended and implemented NetAssets for fixed asset management, offering superior functionality for asset build-up over NetSuite’s native module. We also helped identify Celigo as the optimal iPass tool for integrating Shopify with NetSuite.
• User Training: We provided extensive training to ensure self-sufficiency post-implementation, covering topics such as journal entry imports, bank reconciliations, expense allocations, and customized reporting.
• Project Management: Our FiT team closely managed the implementation timeline, coordinating tasks across all parties involved, including NetSuite Implementation Services and the client’s internal team.

Results

After a successful go-live, the client saved costs due to a shortened project timeline while mitigating the risks of future costs associated with NetSuite rehabilitation.

The successful deployment enabled the client to effectively manage their financial operations while providing them with a robust system that meets their unique needs as a nonprofit.

Overall, the client benefited from increased operational efficiency, enhanced financial reporting, and a smoother transition to the new ERP system, empowering them to focus more on their mission of building homes and communities.

Services Provided