LAS VEGAS, April 27, 2017 /PRNewswire/ -- SUITEWORLD
2017 -- Oracle NetSuite Global Business Unit (GBU), the
industry's leading provider of cloud financials / ERP, HR and
omnichannel commerce software suites, today announced that Prophet,
a leading global consulting firm, has implemented NetSuite OneWorld
for ERP and Professional Services Automation (PSA). Since going
live on NetSuite OneWorld in October
2016, Prophet has gained a unified view of financial,
resource management and project management processes that have
streamlined operations across nine global offices operating in
the U.S., U.K., Germany,
Switzerland and Hong Kong, creating efficiencies across the
entire organization.
San Francisco, Calif.-based
Prophet brings together thought leaders and top talent from across
the globe to grow better brands and businesses. As demand for
Prophet's consulting services skyrocketed, the combination of
legacy software from acquisitions and manual processes used to
manage the business was anything but seamless, which hindered
efficiency gains and scalability for growth. Hundreds of internal
employees and consultants based around the globe submitted time and
expenses in different currencies and disparate systems. Project
management was conducted manually through its intranet, and a
decades-old Sage system was used to manage financial processes and
required manual intervention to do everything from basic reporting
to month-end close.
Prophet needed a flexible infrastructure that could scale to
accommodate its rapid growth.
After a comprehensive evaluation of solutions that promised
streamlined management of ERP and PSA processes, Prophet selected
NetSuite OneWorld for its robust international functionality and
scalability, coupled with automated, integrated resource and
project management capabilities.
"Resource management is a key driver and strategic advantage for
our business," said Jeani Vance, CIO
of Prophet. "Other large-scale competitors couldn't meet all of our
needs the way that NetSuite can."
NetSuite OneWorld supports 190 currencies, 20 languages,
automated tax calculation and reporting in more than 100 countries;
customer transactions in more than 200 countries; and enables
businesses to streamline their mission-critical business
processes.
In just six months since go-live, Prophet has realized
efficiencies with the following features and benefits
including:
Streamlined financial consolidation and month-end close.
NetSuite OneWorld's robust financial consolidation engine and
multi-currency support eases month-end close across five different
offices in the United States, as
well as offices in London,
Berlin, Zürich and Hong Kong. This includes support for
transactions in the U.S. dollar, British Pound, Swiss Franc and
Hong Kong dollar. NetSuite
OneWorld not only provides Prophet control over month-end close, it
has expedited the process by upwards of a week.
Increased spend control. With integrated, automated
expense and time reporting, expenses hit budget owners in
real-time, ensuring streamlined approval and payment processes, and
protection against freelance overspend and budgeting overages at
month-end.
Enhanced project management capabilities. Real-time
reporting on key project metrics allows managers to see everything
from progress to profitability that help streamline project
management and empower leaders to make insight-driven decisions on
resources used, client profitability and more.
International scalability facilitates growth. Robust
multi-language and multi-currency functionality in NetSuite
OneWorld allows Prophet to quickly provision software for
international offices, and accelerate its global strategy.
A flexible and powerful development platform. NetSuite's
SuiteCloud Development Platform provides flexibility for Prophet to
tailor the system and integrate with other third-party solutions to
meet its unique business needs and industry-specific requirements.
Prophet has plans to extend the NetSuite implementation to include
advanced forecasting capabilities.
"Prophet's value proposition is to help our clients find better
ways to grow," said Vance. "With NetSuite, we have a backend
technology foundation that allows us to do just that."
Jeani Vance is sharing Prophet's
story at SuiteWorld 2017, the number one cloud ERP event of the
year, this year being held in Las
Vegas from April 24-27. Watch
her and all SuiteWorld 2017 keynotes live here.
About Prophet
Prophet is a consultancy that helps clients find better ways to
grow by focusing on three important areas: creating relevant brand
and customer experiences, driving accelerated growth strategies and
leveraging digital as a transformative force in their business. We
operate differently than other consultancies, blending insight,
strategy and creativity with an optimistic yet pragmatic approach.
We have partnered with some of the world's most successful
companies, including Electrolux, T-Mobile, UBS, Gatorade and GE.
With nine global offices and more than 350 experts in marketing,
innovation, digital and design, we are able to bring together the
right people with the right experience to solve our clients'
business challenges. Prophet.com
About Oracle NetSuite Global Business Unit
Oracle NetSuite Global Business Unit pioneered the Cloud
Computing revolution in 1998, establishing the world's first
company dedicated to delivering business applications over the
internet. Today, Oracle NetSuite Global Business Unit provides a
suite of cloud-based financials / Enterprise Resource Planning
(ERP), HR and omnichannel commerce software that runs the business
of companies in more than 100 countries. For more information,
please visit www.netsuite.com.
Follow Oracle NetSuite Global Business Unit's Cloud blog,
Facebook page and @NetSuite Twitter handle for real-time
updates.
About Oracle
Oracle offers a comprehensive and fully integrated stack of
cloud applications and platform services. For more information
about Oracle (NYSE: ORCL), visit www.oracle.com.
Trademarks
Oracle and Java are registered trademarks of Oracle and/or its
affiliates. Other names may be trademarks of their respective
owners.
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SOURCE Oracle NetSuite Global Business Unit