NetSuite helps leading Employee Benefits Company reduce overheads by $300,000 and streamline its complex Billing Structure
"Our clients choose from a product mix of over 20,000 discounts, awards and special benefits from which we create their own customized programs. Our product transaction volumes are high and extremely varied, while our monthly service charges include retainer and event-driven recurring revenue. NetSuite and SaaS-In-A-Box have helped us take control of this complicated billing structure and save nearly $400,000 in the process."
—Pegasus Group Australia Pty Ltd
- End-to-end integration of finance, ERP, CRM, and Ecommerce business processes is helping Pegasus save $300,000 a year in reduced administrative overhead
- Pegasus estimates it's also saving $80,000 a year over comparable server-based software
- Inventory management has helped the company reduce inventory by 35%, and automation of financial processes has helped reduce receivables ageing by 15%
- Preparing the monthly invoice run now takes about 2 hours, compared to 3.5 days previously
- Financial closings used to lag by 4–6 weeks; now Pegasus tracks financials on a daily basis, in real time
- Pegasus' Account Managers can now answer membership, order status or invoice questions on the spot, via iPads, at client meetings; previously it could take up to a week of phone calls and emails
- Limitations of multiple disparate software systems prevented Pegasus from taking advantage of growth opportunities
- Company was wasting time and money manually tracking and reconciling its extremely complex pricing model
- For any given client, each month's bill might include retainer, hourly charges, and recurring revenue charges for special events charges billed in advance
- In all, Pegasus had 10 different databases, handling about 250,000 employees through the company's various corporate employee programs
- Pegasus' future plans include activating task management to help remote managers optimize resource utilization, and launching tracking and reporting for sales and marketing campaigns
- NetSuite partner SaaS-In-A-Box configured and implemented NetSuite for Pegasus, and continues as project implementer and consultant
- SaaS-In-A-Box also used SuiteScript to develop a Fulfillment Driven Revenue Recognition module which due to the large and varied volume of transactions (especially advanced sales) is the real secret behind Pegasus' ability to have a real time understanding of its financials—a must for any SME.