Overview
As company operations naturally evolve with growth, technology processes can become misaligned and create operational challenges and business disruptions. By initiating an optimization project, companies can address issues and align technology processes with new demands, creating a scalable platform for sustained success.
Background
A rapidly growing technology company based in Georgia was experiencing significant operational inefficiencies and system instability within their NetSuite environment. Over the years, continual enhancements and direct developments in the production environment had resulted in frequent system disruptions, affecting financial reporting, operational workflows and overall business performance.
Seeking to stabilize and optimize their enterprise resource planning system, the company's chief financial officer engaged RSM US LLP for a comprehensive NetSuite assessment.
Project
The NetSuite assessment focused on several specific challenges faced by the company's finance leadership, including:
The problem: Frequent system instability occurred due to continual direct enhancements in the production environment.
The impact: Instability created unexpected disruptions, data inconsistencies and inefficiencies in financial operations.
RSM's recommendation: Solutions included implementing a structured change management process, leveraging sandbox environments for development and testing, and utilizing the SuiteCloud Development Framework to manage and deploy scripts effectively.
Following the NetSuite assessment, the company transformed many of their key business functions, achieving benefits that included:
Greater system stability and efficiency
- Reduced system disruptions by leveraging structured change management practices
- Improved operational efficiency by automating processes
Stronger security and compliance
- Enhanced financial controls through proper role and permission alignment
- Reduced audit risks with restricted transaction access
Scalability for growth
- Optimized subsidiary and intercompany configurations, enabling seamless expansion
- Improved financial consolidation for multi-entity reporting
Enhanced financial accuracy
- Streamlined the chart of accounts and segmentation, improving reporting precision
- Automated month-end close and reconciliations, facilitating timely and accurate financial statements
Cost savings and resource optimization
- Reduced the manual workload and errors by automating processes
- Increased productivity and resource utilization within the finance team
Outcomes
By working with RSM to assess and optimize NetSuite, the company's CFO successfully addressed critical inefficiencies and positioned the company for sustainable growth. With enhanced system stability, improved security and streamlined financial operations, the company now leverages NetSuite to its full potential, driving better business outcomes and economic success.
Optimize your NetSuite system
RSM's NetSuite Optimization Roadmap® team analyzes your current NetSuite solution and delivers an actionable road map to a fully optimized system. In just a few weeks these experienced advisors can create an action plan for maximizing your NetSuite system to accomplish your business objectives.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
