NetSuite Helps IT Services Company Boost Yearly Growth Estimates by 33%

Results:

• Improved accuracy in tracking consultants' billable time immediately increased monthly revenue by $17,000
• With greater efficiency and accuracy in time reporting, Adjacent Solutions has increased its projected yearly growth estimates by 33%
• Overall, automation of formerly manual tasks has reduced administrative overhead by more than 20%
• The company can now invoice on a weekly basic; previously, all invoices lagged 30 days behind and were billed monthly
• Also, the billing process now takes just one hour, compared to 16 hours previously
• More precise resource utilization has helped Adjacent Solutions increase profit margin and reduce client costs
• Management is now able to calculate profitability by project, which was impossible before

Challenges:

• The company wasted time, risked billing accuracy, and lost money because of the need to manually rekey consultants' time data from spreadsheets into QuickBooks
• Company admen's spent 4 to 6 hours per timesheet, each month to enter data
• Adjacent Solutions knew it was losing revenues for consultant time that wasn't billed accurately, but couldn't correct the problem

Solution:

• NetSuite Partner The Vested Group performed implementation, data conversion, training and support for Adjacent, as well as ongoing guidance for future projects
• Ease of NetSuite use has motivated company to accelerate plans to ramp up product-IP development projects for key customers
• NetSuite's ease of use simplified and encouraged time-entry for consultants, who had been frustrated by difficulties with the spreadsheet-based templates
• Adjacent uses Web services to enforce SLA commitments with clients and to support critical operational processes.
• Dashboard KPIs now let management calculate profitability by project, by consultant, and by group, using real-time data