SYPAQ Speeds Month-End Close, Gets Paid Faster, Fuels Growth on NetSuite OneWorld and OpenAir

SYPAQ provides system integration, consulting and application development and support to the defence, aerospace, national security and IT sectors in Australia. Since its founding in 1992, SYPAQ has become a leading industry player by helping customers build technical capabilities around their complex strategies. SYPAQ’s goal is to become the country’s leading systems integrator in the defence industry.


SYPAQ

Company

SYPAQ

Location

Melbourne, Australia

Industry

Professional Services

EMPLOYEES

250 to 499

Revenue

$35M USD

Number of Subsidiaries

1

Other Solution Considered

Microsoft Dynamics

NETSUITE PRODUCTS IMPLEMENTED

NetSuite OneWorld
NetSuite OpenAir


“If anyone wants business data or insights, they go to NetSuite, not another system or someone’s spreadsheet. It's the source of truth for everything we do.” Tim Murton, CFO, SYPAQ

High-Tech Business Invests in a High-Tech System

Mastering the terrain through excellence
SYPAQ has delivered a broad range of high-profile projects over the past 30 years, with about 200 employees across six sites in Australia. In addition to its renowned system integration capabilities, SYPAQ also designs and builds new technology for the defence industry, including drones and UAVs (unoccupied autonomous vehicles).
Wrong tools for the job
SYPAQ previously ran on Pronto ERP, supplemented with Fathom software for forecasting, spreadsheets for managing projects, and a combination of paper and Excel timesheets for consultant and contractor timekeeping. Gathering data from across these systems to create basic reports such as a P&L statement was challenging and time-consuming, and the month-end close took the entire month to complete. Anticipating growth, SYPAQ endeavoured to consolidate its processes on a single system.
Military-like precision
Now, SYPAQ’s finance team uses reporting capabilities in NetSuite OneWorld to view real-time data in one place, which helps them complete month-end close in one week. All projects are managed in OpenAir, NetSuite’s professional services automation solution. Employees can enter timesheets in a mobile app, where managers can automate approvals. And automated billing eliminated invoicing errors, helping SYPAQ get paid seven days faster on average.
Capability supports growth
SYPAQ has been able to confidently grow its customer base by 20% since deploying NetSuite, which has increased revenue by more than 30%. It has integrated DocuSign with the system, enabling subcontractor and employee contract documents to be sent directly from NetSuite. SYPAQ is focused on continued growth, including scaling its cybersecurity and Atlassian practices, adding further security accreditations, maturing its engineering operations and commercialising its internally developed IP.
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