Crypto, Hospitality and Travel | NetSuite ERP

The company is a global investment group that fund ground-breaking businesses and technologies with interests in various sectors including crypto, blockchain, real estate, travel, hospitality and fintech.

The company had been using a variety of different applications including SAP and Atlassian Jira for running their business operations, which resulted in operational inefficiencies, poor integration and a lack of scalability. Therefore, they were looking for a new global, solution that could integrate their entire business operations into a single platform.

Challenge

Systems & Process Modernisation

The challenge was to find a solution that could address their business requirements and streamline their processes. The company had a complex business structure with operations across multiple industries, and they required a solution that could cater to their specific needs. They found that many ERP solutions in the marketplace were too inflexible to accommodate all their different industry business processes, and many were also unable to handle transactions with more than 2 decimal places, making them unsuitable for an organisation focused on transacting using cryptocurrencies.

Approach

Rapid, phased implementation approach

Elevate2, a leading NetSuite implementation partner, was approached by the Group to help them implement NetSuite. Elevate2 conducted a thorough analysis of the Group’s business processes and requirements and proposed a tailored NetSuite solution to address their specific needs. The solution included the following modules:

Financial Management – to streamline their financial operations and automate their accounting processes.

Project Management – to manage their various projects, including project planning, job costing, resource allocation, and time tracking.

Reporting – to provide real-time visibility into their business operations and enable data-driven decision-making.

TaskCoin – to provide the ability to transact in crypto-currencies, Elevate2’s TaskCoin SuiteApp was implemented.

Procurement – to manage their procurement process, including purchase orders, vendor management, and inventory management.

Financial Management – to streamline their financial operations and automate their accounting processes.

Project Management – to manage their various projects, including project planning, job costing, resource allocation, and time tracking.

Reporting – to provide real-time visibility into their business operations and enable data-driven decision-making.

TaskCoin – to provide the ability to transact in crypto-currencies, Elevate2’s TaskCoin SuiteApp was implemented.

Procurement – to manage their procurement process, including purchase orders, vendor management, and inventory management.

Result

On time and under budget

The implementation of NetSuite by Elevate2’s team has enabled the Group to streamline their business operations and improve their efficiency. They have a single platform to manage their financial, procurement, project management, and reporting processes, which has resulted in better visibility and control over their operations.

The automated processes have reduced their manual workload, enabling them to focus on value-added activities. The solution has also provided scalability, enabling the Group to expand their operations without compromising on efficiency.

Conclusion

On time and under budget

The successful implementation of NetSuite by Elevate2 has enabled the Group to overcome their operational challenges and improve their business processes. They have a scalable solution that can cater to their evolving needs, and they have achieved better visibility and control over their operations. The close working partnership between the Group and Elevate2 has resulted in a successful implementation NetSuite and a valuable long-term relationship for support and on-going improvements to NetSuite.

Following the success of the initial implementation phase, the group have asked Elevate2 for help in expanding their use of NetSuite to replace other business systems, with subsequent project phases deploying Project Management, Resource Management, Expenses Management, Timesheets and Advanced Approvals functionality.

“Elevate2 successfully delivered the project to time and budget, even whilst creating an application for us to be able to transact in cryptocurrencies”.

CFO of The Crypto, Hospitality and Travel Group