NetSuite Scales to Support Growth of 350% for Digital Software and Services Company

Basis Technologies, a digital marketing software and services company, confronted significant challenges as its business grew. Its existing QuickBooks system and Excel spreadsheets couldn’t provide the data or visibility into the business the company needed to introduce new software and services for its customers, limiting growth. It also lacked an audit trail to properly segregate duties, resulting in data duplication and revisions requiring manual reconciliation of erroneous data.

Company

Basis Technologies

Location

Chicago, Ill.

Industry

Digital Marketing Software and Services

SYSTEMs REPLACED

QuickBooks, Spreadsheets

NETSUITE PRODUCT IMPLEMENTED

NetSuite OneWorld

“Initially, we had a straightforward business model and simple transactions. But with more growth and complexity, NetSuite has been able to scale with us and will continue to do so.” Basis Technologies

Basis Technologies Grows to Digital Media Powerhouse

Tighter controls, customised reporting: By implementing NetSuite in 2007 and later upgrading to NetSuite OneWorld, Basis Technologies can deliver detailed invoices and custom reporting to its customers, significantly reducing days sales outstanding (DSO) and custom reporting for its vendor partners, ensuring partner retention and continued engagement. Meanwhile, improved segregation of duties better reflects employee roles, providing controls to support financial audits.

Rapid growth, greater automation: In the first seven years on NetSuite, gross revenue grew 350 percent to roughly $250 million while Basis Technologies’ customer count rose 15-fold to 4,500 customers. Financial close time fell 50 percent despite rapid growth and increasing complexity.

Flexibility fosters expansion: NetSuite’s flexibility facilitated integrations between OneWorld and a homegrown front-end Media Management System, while integration with Adaptive Planning provides personnel with the proper financial data. OneWorld was also crucial in Basis Technologies' acquisition of advertising software company, SiteScout, positioning it to make further strategic acquisitions.

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