Financial services software maker Misys is transforming its global operations by consolidating multiple financial systems into a single cloud-based service from Netsuite.
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As a result of acquisitions and rapid growth, Misys has around 150 operations in 70 countries serving thousands of customers, but uses many different finance systems.
Misys uses the cloud-based NetSuite OneWorld for processes such as financial reports, billing, procure to pay and order-to-cash, as well as multi-currency, multi-language, inter-company transactions.
The company’s CIO, Christina Grealy, said part of the reason it selected Netsuite was because it was relatively easy to move data from other systems to the cloud system.
“That integration was critical to meet our goal of automating several complex and critical business processes in a single system. It has eliminated numerous manual processes and delivered significant time savings,” said Grealy.
The NetSuite OneWorld deployment provides the flexibility, agility and scalability Misys needs to sustain its rapid growth and gain a real-time view of the customer data across multiple business units, subsidiaries and countries. This modernisation effort equips Misys with a fully up-to-date, future-proof application environment geared for innovation and business transformation.
Misys needed an agile and flexible software system that could increase its effectiveness and efficiency, integrate contract management and billing, and improve reporting and transparency to reduce audit costs.
NetSuite OneWorld supports 190 currencies and 19 languages and has automated tax compliance in more than 50 countries. Around 24,000 companies and subsidiaries use NetSuite’s cloud-based software.
Other new customer wins in Europe for Netsuite include Pret A Manger and WHSmith. It also opened two datacentres in Europe, with one in Dublin and the other in Amsterdam.
Pret A Manger’s group director of IT, Andy Chalklin, said the cloud-based system from Netsuite supports the company’s growth in the UK and beyond. “NetSuite will give us what we need, without the investment in IT that an on-premise system would require,” he added.
Netsuite held its annual European Cloud Event at Emirates Stadium in London on 6 October 2015.
Read more about Netsuite
- NetSuite's SuiteAcademy programme teaches students cloud computing skills to better prepare them for the workforce.
- The disruption caused to the channel community by the cloud is still having an impact according to NetSuite’s CEO.
- Netsuite OneWorld, a cloud-based ERP system, is adept at managing multiple entities on a global scale.