Venafi Streamlines and Grows Its Global Software Business

Founded in 2005, Venafi delivers security at the speed of business with its Immune System for the Internet, empowering Global 2000 organizations to protect vital digital keys and certificates that are the foundation of Internet security. As its business grew and complexity multiplied, the Salt Lake City, Utah-based company needed to step up from its entry-level QuickBooks and Excel applications to a robust and scalable ERP platform.


Venafi

Company

Venafi

Location

Salt Lake City, Utah

Industry

Cybersecurity Software

Revenue

$500k to $5M

Employees

170

Number of SUBSIDIARIES

2

Number of COUNTRIES

15

IMPLEMENTATION PARTNER

NetSuite Professional Services

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“NetSuite has been invaluable in helping us scale. Strategically NetSuite is essential to our operations and its adaptability and flexibility are both refreshing and valuable.” Venafi

Scalable ERP Delivers Now and for the Future

A Platform for Global Business Transformation and Growth
Selected after an evaluation of competing solutions in 2008, NetSuite has given Venafi dramatically better visibility and control over its fast-growing business, now serving more than 250 companies in over 10 countries, including four of the top five U.S. banks, eight of the top 10 U.S. health insurers and four of the top seven U.S. retailers. The 170-person company upgraded to the NetSuite OneWorld global business management platform in 2013 to better manage subsidiaries in the U.K. and Finland and handle multi-currency transactions in the Euro, British pound and Australian dollar.
Streamlined Financial Management and Real-Time Reporting
NetSuite has enabled Venafi to streamline its end-to-end financial processes, generate detailed and real-time reports on global operations since the cloud solution went live in 2008. Venafi has cut five to six hours a week from its sales and purchase order processes, reduced its monthly financial close from 20 to 16 days and has simplified a complex stream of traditional and recurring subscription-based revenue.
Future-Proofing the Business for Agility and Innovation
Venafi is poised to continue its rapid growth curve with NetSuite supplying superior business agility and enabling Venafi to channel resources into innovation and customer service. The company has progressively expanded its use of NetSuite by incorporating the NetSuite Project Management module for its professional services division and NetSuite Financial Planning, powered by Adaptive Insights, for world-class budgeting, planning and forecasting.

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