NetSuite Helps Athlete Management Agency Cut Billing Reconciliation Time by 50%

"With NetSuite, our contracts and processes are linked, making it much easier to see what we keep and what we remit. We can create a bill off of a contract, and when we collect payment, the system automatically knows what we need to pass on to the athlete, and generates a payable."

—Wasserman Media Group



Results:

  • Financial reconciliation is now 50% faster and fully accurate
  • Commissions are calculated quickly, payouts to athletes and employees are on time
  • Streamlined billings ensure that sponsors pay on time and process expenses fast — at an average of 10 minutes per report
  • Upper management now accesses all financial information in one place, in real-time.

Challenges:

  • Leader in sports management marketing had inefficient accounting that couldn't keep up with fast growth in athlete management
  • Slowdowns occurred in client and employee payments, damaging relationships
  • Disparate AR, AP processes and separate instances risked errors in expense reimbursements, agency commissions.

Solution:

  • Company replaced Microsoft Great Plains with NetSuite; later upgraded to NetSuite OneWorld — migrating many subs into one rolled-up parent account
  • End-to-end business processes now integrated and visible to management
  • Financial, sales, expense, and commissions reports automatically emailed to managers, or are available as needed
  • Easy to research transactions, track financial transactions by projects, departments, and athletes — reporting on the specific financial results.







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