"NetSuite has transformed the organisation. Now all managers can access the system to do budgets, track expenses and approve invoices, and that improves accountability and results."
Bankstown Sports Club
Bankstown Sports Club has improved profitability with real-time visibility into costs and revenue at its 65,000-member hotel, gaming, restaurant and entertainment complex.
Nonprofit organisation uses NetSuite for new ability to track profit by individual revenue centre, including gaming operations, eight restaurants, 12 bars and 13 event spaces.
With improved profitability, Bankstown can better support 42 local sporting clubs, with 8,000 youngsters participating in cricket, football, baseball, rugby, tennis and other sports.
NetSuite has enabled hands-on control and greater accountability across 12 departments, including gaming, beverage, food service, marketing, IT and security.
Individual department managers can do their own budgets, track expenses and approve purchases, vs. previous reliance on the finance department for basic processes.
Bankstown Sports Club has reduced its monthly financial close time from several weeks to just three days since NetSuite went live in May 2014.
Time needed for accounts payable management has been reduced from a full five days a week to just two days a week.
NetSuite Financial Planning module, powered by Adaptive Insights, supplies new and valuable budgeting, planning and forecasting functionality.
On-demand visibility into real-time financial data enables Bankstown Sports Club to rapidly identify areas for improvement and better chart strategic direction.
NetSuite OneWorld enables Bankstown Sport Club to seamlessly manage two subsidiaries, a lounge-chair sales business and a property development firm.
Previous accounting application was not user-friendly, forcing department leads to rely on the finance team for basic processes and information.
Limited reporting capabilities obscured visibility into cash flow, often resulting in outdated and inaccurate reports.
Bankstown Sports Club wanted to empower department managers and strengthen departmental accountability for costs, revenue and budgets.
A financial and IT audit by PKF Lawler and Viatek in 2013 identified weaknesses and recommended NetSuite as an ideal solution to improve Bankstown Sports Club operations.
Implementation and optimisation by NetSuite Solution Provider, Viatek helped ensure Bankstown could make the most of its NetSuite system.
NetSuite’s cloud platform supplies better backup, security and IT cost-efficiency than possible with comparable on-premise software and servers.
Ramp-up with NetSuite CRM in 2015 will help improve member communication, service and marketing efforts.