Comcast Spectacor Simplifies Accounting

Comcast Spectacor Trades Sage for NetSuite to Simplify Accounting and Fuel Expansion

Comcast Spectacor is a leader in sports and entertainment as the manager of the Wells Fargo Center in Philadelphia. It owns the National Hockey League’s Philadelphia Flyers and the National Lacrosse League’s Philadelphia Wings, hosts the NBA’s Philadelphia 76ers and presents an unparalleled selection of concerts and events. The company is also starting to produce interactive events and operate additional entertainment venues.

Company

Comcast Spectacor

Location

Philadelphia, Pa.

Industry

Restaurants And Hospitality

Employees

250 to 499

Number of Subsidiaries

Application Replaced

Sage

NETSUITE PRODUCTS IMPLEMENTED

NetSuite ERP
NetSuite Fixed Assets Management
NetSuite SuiteAnalytics
NetSuite Learning Cloud Support

“Having NetSuite and its efficiencies is pivotal for us, because we needed to find ways to save time.” Ryan Gillies, Senior Director of Finance & Business Technology, Comcast Spectacor

An Entertainment Powerhouse in a League of Its Own

From championships to concerts: Comcast Spectacor has built a portfolio of 15 subsidiaries. Its multifaceted operations include managing athlete contracts for its sports teams and producing its recently launched “family interactive events,” like roller-skating parties at the Wells Fargo Center.

Ejecting inefficient systems from the game: As Comcast Spectacor added events and facilities, its on-premises Sage 100 ERP system became a hindrance, requiring employees to work onsite or tackle a VPN. In accounting, managing fixed assets in BlackLine and Excel involved an inefficient workflow that included exporting data, then importing it and posting journal entries. And, without a clean way to categorise expenses, Comcast Spectacor’s chart of accounts grew to some 27,000 accounts long.

Wins in accounting and beyond: Now, teams can work efficiently from anywhere with Comcast Spectacor’s cloud-based NetSuite ERP system. The company also implemented NetSuite Fixed Assets Management, so calculating monthly depreciation requires only a few clicks and the director of accounting approves journal entries in bulk. Categorising transactions with NetSuite’s multidimensional accounting capabilities(opens in new tab) significantly streamlined the chart of accounts, as well.

Ready for the next season of growth: With a quicker month-end close and day-to-day time savings, Comcast Spectacor is equipped to continue expanding into new lines of business, like esports. Less than a year into its NetSuite experience, the team is building on its foundation by integrating its ticket-office system and POS with its ERP. Leadership says that the system’s efficiencies will continue making everyone’s job easier, even as Comcast Spectacor grows.
Read more about Comcast Spectacor’s success with NetSuite(opens in new tab).

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