Due to its tremendous growth since its inception in 2020, Cerebral quickly out scaled its accounting system. High transaction volume, multiple source of data coming from external systems, siloed subsidiary financials and a lack of intercompany transaction management were all pain points that could not be solved with QuickBooks.
NETSUITE IMPLEMENTATION CASE STUDY
HEALTH CARE
Cerebral
Cerebral is a mental health subscription service that provides clients with ongoing, comprehensive access to online care and medication management for a monthly rate. They provide help for a wide range of conditions, including anxiety, depression, insomnia, PTSD, substance abuse and much more. Cerebral is the fastest mental health company ever to achieve unicorn status, having raised over $462 million and achieving a valuation of $4.8 billion in under two years.
The challenge_
Solution_
Implemented NetSuite’s OneWorld Financial First edition, completed integrations with their most used day-to-day systems (Bill.com and BREX), and set up SFTP connections for multiple bank accounts to automate bank statement imports and payment file transfers.
The Results_
01_ Go-live on schedule and on budget
02_ Subsidiary financial data consolidated to single system
03_ Streamlined banking process