Software Company Nitro Streamlines Global Operations with NetSuite OneWorld


Nitro

Company

Nitro

Location

San Francisco, Calif.

Industry

Software

Applications Replaced

QuickBooks, MYOB


"NetSuite has been really vital in enabling us to grow at a rapid pace without having to hire additional resources." Nitro

Customer Success

  • Maker of applications to create, edit and share digital documents and a winner of the Inc. 500, Deloitte and Business Review Weekly fast-growth company awards, has improved financial control and visibility with upgrade to NetSuite OneWorld.
  • The agility Nitro has gained by using NetSuite facilitated the launch of its Ireland subsidiary in November 2013 and the launch of Nitro Cloud, a browser-based e-signature and document collaboration service, in June 2013.
  • Nitro has improved speed and accuracy of global financial consolidation across U.S. headquarters and subsidiaries in Ireland and Australia.
  • Year-end global financial consolidation is 50% more efficient with NetSuite OneWorld vs. manual consolidation from QuickBooks and MYOB sources.
  • Multi-currency transactions in the Euro, British pound, and Canadian and Australian dollars are faster and simpler with OneWorld compared to previous Excel processes.
  • NetSuite revenue recognition capabilities improve manageability of traditional and subscription income streams and help Nitro ensure compliance with standards.
  • NetSuite enables flexible reporting on real-data financial information that supports more informed, data-driven business decisions.
  • Nitro’s revenue and transaction volumes are up more than 70% in the two years since NetSuite went live in November 2012.
  • Nitro customer base has grown to more than 500,000 businesses across North America, Europe, Australia and other nations.

Challenges

  • Nitro faced financial inefficiencies and delays in using QuickBooks in the U.S. and MYOB in Australia.
  • Manually inputting sales transaction data from Salesforce.com into QuickBooks and MYOB was painful and time-consuming.
  • Nitro needed a more flexible, scalable solution in the cloud to support rapid and sustainable global growth.

Solution

  • Selected over Intacct, NetSuite offered a highly functional and flexible global business solution ideally suited for fast-growth software companies.
  • Connectivity solution from NetSuite partner Celigo provides integration between NetSuite and a Salesforce.com CRM application, a 70% efficiency gain compared to previous manual processes.
  • NetSuite Fixed Assets module enables Nitro to easily track, manage and depreciate and dispose of assets across multiple global locations.

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