SVP, Corporate Communications
New Media Pioneer Manages Multiple International Properties with Global Cloud Computing Solution
Business Transformation Took Fewer Than 60 Days
SAN MATEO, Calif. — October 26, 2010 —NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERP software suites, today announced that Gawker Media (www.gawker.com) has consolidated its sales, marketing, and financial operations on NetSuite OneWorld, the world’s first and only cloud computing platform specifically designed to run a multi-subsidiary, international business. By eliminating inefficient point solutions, Gawker Media has refined its processes and greatly expanded its advertising reach, aiding in substantial year-over-year growth from 2008 onward. Integrating the company’s accounts payable and accounts receivable operations reduced bookkeeping expenditures 20 percent. Gawker Media uses NetSuite OneWorld for international subsidiary financial consolidation of its eight titles, and for sales, marketing, financial management, order processing, reporting, executive dashboards, and contractor management. For more information, please visit www.netsuite.co.uk/GawkerMedia.
By adopting the NetSuite OneWorld solution for media companies, Gawker Media has been able to streamline the end-to-end insertion order management process which is key for growing any media company. The result enables Gawker to create a competitive advantage by reducing the complexity of doing business with its strategic advertisers. In addition, Gawker has gained the flexibility to efficiently manage multiple revenue recognition schedules across complex multi-line item insertion orders, resulting from Gawker’s success booking large scale brand name advertisers and campaigns. They've retired inefficient, risky and error-prone spreadsheet based revenue recognition that limited scaling the business. Finally, Gawker now has clear real time, monthly, quarterly and detailed visibility into sales that’s necessary to drive and predict the business performance.
Gawker Media is one of the world’s most successful and influential online media publishers. Each day Gawker’s eight blogs cover topics such as gossip, gadgets, video games, and cars, attracting more than 30 million readers every month around the world. Before implementing NetSuite OneWorld, Gawker’s business systems were as diverse as its blogs, being managed on spreadsheets and resulting in data silos, tedious processes, delayed reporting and a generally inefficient and costly back office.
"We'd predicted 2009 would be a down year, but we ended up with significant year-over-year growth. And a good part of that success comes from our ability to refine our advertising sales processes through improved operations efficiency," says Scott Kidder of Gawker Media.
Gawker’s eight blog properties and associated websites are organised into various subsidiaries, which include European operations and currencies. Over a dozen executive dashboards give Gawker managers up-to-the minute views of ad revenues, accounts payables, receivables, employees, contractors, and other information. These analytics, along with integrated end-to-end business processes, help Gawker maximise cash flow while minimising bookkeeping time.
Detailed sales reporting keeps the sales force informed of historical advertising client trends and emerging opportunities, and NetSuite’s revenue recognition keeps the company compliant with financial regulations throughout its many long-term advertising engagements. NetSuite’s extensive ERP capabilities have given Gawker previously inaccessible insights into its financial health and prospects, and key decision makers have instant access to custom dashboards and powerful, in-depth reporting. The power and precision of the NetSuite solution has made it easier for Gawker to innovate new services to valued advertising clients.
For more information about NetSuite please visit www.netsuite.co.uk.
More information about Gawker Media is available at advertising.gawker.com.
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