The Challenge
Prior to implementing NetSuite, ABBYY Software was using Sage Intacct, however, it was not multi-tenant and limited ABBYY’s ability to expand into international markets. They were unable to provide roll-up consolidated reports by each subsidiary. After revamping their pricing and product structure, ABBYY needed a system that could handle bundling products & recognizing revenue appropriately.
Why Vursor and NetSuite?
OneWorld and Multi-Book facilitated the expansion of ABBYY Software as it supported multiple languages, local tax legislation, multibook reporting, and advanced revenue management all whilst maintaining visibility within a single ERP system. This meant as ABBYY expanded globally, they would be able to easily manage multiple subsidiaries without spending hours on manual data manipulation and entry and have the confidence they were meeting the necessary internal compliance. After receiving several recommendations, ABBYY chose to work with Vursor to implement NetSuite. In addition to being an award-winning NetSuite Alliance partner, Vursor had experience with GAAP and IFRS, complex revenue arrangement and fair value requirements, international localization experience, and integration expertise with Salesforce which gave them the confidence that Vursor was a reliable and trusted partner.
The Results
• Decreased month-end by 7 business days (from 10 to 3 days)
• ASC 606 and IFRS compliant for future audits/acquisitions
• Ease of expansion for future acquisitions or new market expansion due to OneWorld & Multi-book automation
• Decreased customer acquisition time through automation of integrating Salesforce & NetSuite
“Throughout the implementation of NetSuite, Vursor was always very professional and helpful. Their expertise was apparent from the outset, and they were always honest and transparent with us, providing a clear and realistic project roadmap which ensured the implementation stayed on track and within the agreed budget.”
– Project Lead, ABBYY Software
