Situation Before the NetSuite Implementation
2X is a leading global B2B marketing-as-a-service company, specializing in delivering comprehensive marketing solutions in the technology and professional services sectors. The CFO sought a solution for multi-entity and multi-currency consolidation, a challenge amplified by their rapid growth and recent acquisitions. Their acquisition by Private Equity firm Recognize Partners further complicated their financial landscape. With most of their workforce based in Malaysia and operating on QuickBooks, the CFO needed a solution that could support their growing business. The key objectives included:
- Streamline business processes to support growth strategies
- Gain real-time access and full visibility to financial and accounting data
- Automate manual processes to reduce costs and increase opportunities for employees to add value
- Enhance productivity to increase efficiencies and improve job satisfaction
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NameSolution & Benefits After the NetSuite Implementation
AST’s global presence, NetSuite proficiency, and expertise led to a productive partnership between Recognize “sister” firms. To enhance operational efficiency, 2X transitioned from QuickBooks to NetSuite, realizing significant advancements across multiple business processes. The adoption of NetSuite facilitated multilevel approval workflows, streamlining decision-making and ensuring better compliance. The seamless integration with Plan R for financial reporting offered a robust solution for comprehensive financial analysis and planning.
Additionally, AST’s NetSuite Continuum Billing product simplified subscription billing, addressing both ease-of-use and the complexities of diverse billing scenarios. The platform’s capability to manage electronic payment file transfers was particularly beneficial, accommodating the stringent timing requirements of both the US and Malaysian banking systems. This upgrade not only modernized their financial operations but also provided a scalable foundation for future growth.
Solution Components:
- NetSuite
- PlanR
Why AST?
As an expert NetSuite Service provider, AST has automated financial operations and provided a scalable foundation for future growth at 2X. This has significantly reduced manual effort, minimized errors, and enhanced visibility.