NetSuite Helps Innovative UK Fintech Company Enhance
Financial Operations and Reshape Global Payments Industry
LONDON, July 11, 2019 /PRNewswire/ -- GoCardless, a
global direct debit network headquartered in the UK, has selected
Oracle NetSuite to support its mission to take the pain out of
getting paid for businesses with recurring revenue. With NetSuite,
the fintech company, which grew by 60 percent in the last year, has
been able to automate financial management and help reduce the
complexities of operating across multiple markets, currencies and
tax laws as it rapidly expands its international operations.
Founded in 2012, GoCardless has created a global bank debit
network to rival credit and debit cards, as well as a platform
designed to take invoice, subscription, membership and instalment
payments. As demand for its services grows, with $10 billion in transactions a year and 40,000
customers around the world, GoCardless needed a single, scalable
business platform that could provide the visibility and control
required to optimise its financial reporting. After a careful
evaluation, GoCardless selected NetSuite to manage and automate
core business processes.
"Since implementing NetSuite, we have gone from basic accounting
to conducting in-depth financial analysis," said Catherine Birkett, CFO, GoCardless. "We can now
report financial close faster and more accurately, quickly and
easily setup new subsidiaries, and efficiently meet our
stakeholders' reporting requirements. This is incredibly valuable
as we continue to expand into new markets and the best part about
NetSuite is we now have a solution that will scale with our growth
path for years to come."
With NetSuite, GoCardless will be able to increase the agility
of its financial operations as it expands globally. By gaining a
unified view into the business, GoCardless will be better enabled
to address the complexity it faces with entering new international
markets and make decisions more confidently and quickly.
"GoCardless has a very advanced business model that is changing
the way organisations collect payments," said Nicky Tozer, VP of EMEA, Oracle NetSuite. "As
its network expands to cover North
America, Australia and more
than 30 European countries, GoCardless needed a single and scalable
business platform that could support its future growth and that's
why it selected NetSuite."
About GoCardless
GoCardless is a global leader in recurring payments. GoCardless'
global payments network and technology platform take the pain out
of getting paid for businesses with recurring revenue. More than
40,000 businesses worldwide, from multinational corporations to
SMBs, transact through GoCardless each month, and the business
processes $10bn of payments each
year. GoCardless now has five offices: UK, France, Australia, Germany and USA.
About Oracle NetSuite
For more than 20 years, Oracle NetSuite has helped organizations
grow, scale and adapt to change. NetSuite provides a suite of
cloud-based applications, which includes financials / Enterprise
Resource Planning (ERP), HR, professional services automation and
omnichannel commerce, used by more than 18,000 customers in 203
countries and dependent territories.
For more information, please
visit http://www.netsuite.com.
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and @NetSuite Twitter handle for real-time updates.
About Oracle
The Oracle Cloud offers a complete suite of integrated
applications for Sales, Service, Marketing, Human Resources,
Finance, Supply Chain and Manufacturing, plus Highly Automated and
Secure Generation 2 Infrastructure featuring the Oracle Autonomous
Database. For more information about Oracle (NYSE: ORCL),
please visit us at oracle.com.
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