Aviation Rental Company Adds 37 Aircraft
After Moving to NetSuite
"We have transactions in Euros, British pounds, and Australian dollars and NetSuite copes with the re-translation of these back into our functional currency of US dollars."
- Since bringing in NetSuite, company has grown from 11 to 48 rental aircraft
- Greatly accelerated monthly period-end close to 10 business days
- Web-based cloud computing architecture eliminates need for investing in on-premise resources and staff.
- Outsourced accounting can't keep up with growth of aviation-rental startup
- Company serves global airplane-rental market with small management team
- Dealing with global currencies and tax laws added to complexity of accounting for airplane rentals, debt schedules.
- Replaced outsourcing with NetSuite OneWorld
- Company now gets full visibility into operations worldwide, with NetSuite serving as a single, centralized financial system for almost 60 subsidiaries and various holding companies
- Automatic alerts keep company current on billings and debt schedules.