Company Name:
Niteo Partners
Industry:
Consulting and system integration
Headquarters:
Edison, NJ
Applications Replaced:
Spreadsheets
NetSuite Product:
NetSuite OpenAir
NetSuite OpenAir Helps Consulting Company Stop Revenue Leakage, Improve Employee Relations
"By tightening and streamlining our leave-tracking system through NetSuite OpenAir, we are able to prevent leakages due to imprecise methods. These leakages may otherwise have been 0.5% to 1% of our annual revenue."
—Niteo Partners
Results:
- NetSuite OpenAir automatically calculates current leave accrual information for employees
- The company estimates up to a 1% increase in annual revenue due to elimination of revenue leakage
- Employee self-service, real-time visibility improves employee relations, saves managers' time by reducing employee questions
- Managers and employees are now confident in the accuracy and fairness of Niteo's leave-accrual processes
Challenges:
- Conflicting, redundant job codes caused errors in employee timesheets and leave-accrual calculations
- These errors in paid-time-off calculations contributed to revenue leakage by over-estimating the allowable leave time for some employees
- Lack of precision and visibility also caused uncertainties in personal vacation allowances, which hampered employee relations
Solution:
- The company replaced its spreadsheet-based timesheet processes with NetSuite OpenAir
- All company employee information was loaded into NetSuite OpenAir within 2 hours
- NetSuite OpenAir customization lets Niteo tailor the system to meet their unique needs
