MongoDB Gains New Confidence in Financials with Switch from Intacct to
NetSuite
Company
MongoDB
Location
Palo Alto, Calif., New York, N.Y.
Industry
Software
Applications Replaced
Intacct
Solutions
NetSuite OneWorld OpenAir PSA
“We have real-time visibility into consolidated financials across all
our subsidiaries, and have greatly improved our operational and time efficiencies with
NetSuite.” MongoDB
Customer Success
MongoDB has strengthened global financial consolidation and reporting, currency conversion,
revenue recognition and billing since replacing Intacct with NetSuite OneWorld in September
2014.
Addition of NetSuite OpenAir PSA (professional services automation) used by dozens of global
consultants gives MongoDB a unified platform across software and services.
NetSuite OpenAir has helped improve professional services forecasting and utilization for
the open-source NoSQL database provider, with nine million downloads and thousands of
customers around the world.
With NetSuite OneWorld, MongoDB has gained the confidence and rigor in financials it lacked
with Intacct in preparation for a potential IPO.
MongoDB uses OneWorld to streamline consolidation and reporting across 12 subsidiaries in
Australia, Canada, Spain, France, U.K., Hong Kong, Germany, India, Ireland, Israel, Japan
and Singapore.
Multi-currency transactions and reporting in more than 10 currencies are more flexible and
streamlined with NetSuite OneWorld.
MongoDB has simplified and automated value-added tax (VAT) reporting and compliance in
several European nations with NetSuite’s built-in global tax capabilities.
Revenue recognition cycles are smoother with NetSuite, with more robust and sophisticated
reporting.
Flexibility in NetSuite billing enables MongoDB to accommodate unique customer billing
requirements.
Challenges
MongoDB lacked strong confidence and tight controls needed for a potential IPO with its
previous Intacct accounting application.
Limitations in Intacct forced MongoDB to do all revenue recognition in spreadsheets, with
time-consuming manual and risk of errors.
MongoDB needed to make manual adjustments in currency conversions and lacked tight
integration between Intacct and Salesforce.com.
Solution
NetSuite offered a proven solution relied on by more than 1,000 software companies to
automate processes, increase efficiency, strengthen financials and help drive growth.
NetSuite OpenAir delivers professional services automation, integrating with NetSuite ERP
for complete visibility across software and services.
Replacing spreadsheets, a Google calendar and a homegrown application, OpenAir provides a
single, unified solution for PSA.
Connectivity solution from NetSuite partner Dell Boomi provides tight integration between
NetSuite and Salesforce.com CRM.