RSM implements Financials internally and at clients

RSM DE Technology & Management Consulting Wins With NetSuite, Then Introduces Clients to the System

RSM DE Technology & Management Consulting (TMC) supports its customers—mainly software and service companies—in the automation of their business and financial processes. It advises on process optimisation and change management as well as on the selection, implementation, adaptation and support of software solutions for finance and operations management. Founded in 2016 as a subsidiary of RSM GmbH, a large German auditing and tax consulting firm, RSM DE TMC is part of RSM International, a network of auditing and consulting companies with 820 locations in 120 countries.

Company

RSM DE Technology & Management Consulting GmbH

Location

Bremen, Germany

Industry

Technology & Management Consulting

EMPLOYEES

Under 25

SYSTEMS REPLACED

DATEV, Excel

NETSUITE PRODUCTS IMPLEMENTED

NetSuite Financials
NetSuite SRP

“We experience the benefits that NetSuite offers service providers every day and are therefore convinced that these solutions are also an excellent choice for our clients to optimise and digitise their project-based business processes.” Henning Lahrssen, Managing Partner, RSM DE Technology & Management Consulting GmbH

Fueling a Project-based Business Model

Wanted: Modern cloud solution: RSM DE TMC set out to find a modern, cloud-based solution that could support both its own processes and those of its clients. The team chose NetSuite because it meets the specific requirements of project-based business models, can grow with service providers as required and readily supports international expansion. RSM companies are already NetSuite partners in many countries, an added bonus when supporting clients that operate internationally. In fact, NetSuite recently recognised RSM as “EMEA Partner of the Year.”

Found: NetSuite: After choosing NetSuite, RSM DE TMC completed the required certification training, then signed on as an Alliance Partner in early 2018. At the same time, the firm introduced NetSuite in-house to better control its timekeeping and invoicing processes and gain practical experience with the system. Shortly afterward, RSM DE TMC won its first NetSuite customers.

Quicker billing and month-end close: Like many of its clients, RSM DE TMC invoices its consulting and support services on a time and materials basis, so correct invoicing depends especially on accurate timesheet entries. The firm used to manage timekeeping and invoicing via a time-consuming process that included several manual steps in Excel and DATEV, a standard software for German tax consultants. RSM DE TMC replaced all of that with automated invoicing via NetSuite’s financial management system and professional services automation (PSA). This accelerated the billing process—and its associated cash flow—and increased invoice accuracy. It also reduced month-end close from over a week to two days.

Next step: Optimised staffing: RSM DE TMC will continue to expand its use of NetSuite in the coming months. The team plans to more intensively use NetSuite PSA or introduce OpenAir to more efficiently plan staffing based on availability and workload, which is extremely important in the services and consultancy sector.

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