NetSuite SRP Saves IT Consulting Spinoff $250K Over Hosted Software Upgrade

BearingPoint

"Now we get automatic upgrades, and we have visibility into exactly what people are working on—this alone has given us a significant boost in utilization for our billable resources." BearingPoint

Company at a Glance

Location:
Sydney, Australia
Industry:
IT Consulting
Applications Replaced:
Sage Accpac, PeopleSoft

Solutions

NetSuite OpenAir for consulting management
ERP
CRM

Customer Success:

  • BearingPoint added pipeline visibility and other functions while saving more than $250K over the costs of upgrading the parent company's hosted applications.
  • Monthly invoices are now processed in four days rather than two weeks, and DSO (Days Sales Outstanding) has been cut by 30%.
  • The company has continued growing without adding administrative headcount.
  • Resource utilization and profitability, as well as management confidence, have increased because of sales-pipeline visibility and improved reporting quality.
  • End-to-end business process integration is also helping BearingPoint reduce its quote-to-cash cycles by improving the speed and quality of per-client billings and expenses.

Challenges:

  • As a result of a management buyout, BearingPoint was faced with spinning off a 130-employee "startup" within a 90-day timeframe.
  • The company needed a complete business software architecture, but simply cloning the parent company's premise-based applications was prohibitively expensive.
  • BearingPoint also wanted to boost sales pipeline visibility over the previous software in order to improve consultants' resource utilization and company profitability.

Solution:

  • BearingPoint replaced the parent's Sage Accpac and PeopleSoft applications with NetSuite OpenAir.
  • The company was able to install core functions—integrated timesheet management, expense reporting, and client invoicing—in just 45 days.
  • BearingPoint's resource manager uses NetSuite's profiles database and reporting tools to help identify consultants for new and projected client engagements.