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

"Prior to NetSuite, we were many versions behind out parent's applications because of the costs and detailed customizations needed to upgrade. 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

Results:

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 4 days rather than 2 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.