NetSuite Helps Reduce Overheads by $300,000 and Streamline Its Complex Billing Structure

Pegasus Group Australia Pty Ltd

"NetSuite and SaaS-In-A-Box have helped us take control of our complicated billing structure and save nearly $400,000 in the process." Pegasus Group Australia Pty Ltd

Company at a Glance

Location:
Victoria, Australia
Industry:
Corporate Employee Benefit management solutions
Applications Replaced:
MYOB, Multiple Access and homegrown databases

Solutions

NetSuite

Customer Success:

  • 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 two 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.

Challenges:

  • 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.

Solution:

  • 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.