SAN MATEO, Calif., Feb. 13, 2014 /PRNewswire/ -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that Zendesk, a leading provider of cloud-based software for better customer service, has gone live on NetSuite OneWorld to manage its global operations across four continents. NetSuite OneWorld replaced QuickBooks and numerous Excel spreadsheets that were unable to meet Zendesk's need for efficiency and real-time consolidated visibility. The San Francisco-based company relies on the NetSuite OneWorld cloud-based global business management solution to run core business operations with financial consolidation, fixed assets, financial planning, revenue recognition, multi-currency, multi-language and tax compliance across six global subsidiaries in Europe, Asia and Australia. With NetSuite OneWorld, Zendesk has the scalability and process automation to support the development of its business. Zendesk has over 40,000 customers and approximately 500 employees worldwide.
"We felt that having a single, cloud-based system worldwide with NetSuite would be an ideal solution for our business," said Alan Black, Zendesk CFO. "The ability to scale the company very quickly with a system that allows the rapid introduction of new entities has been very valuable. The ROI with NetSuite was considerably better than its closest competitor."
NetSuite OneWorld Delivers Superior Scalability, Visibility and Efficiency Without the Expense and Ongoing Maintenance Required by On-Premise ERP Systems To Run Multi-Entity Operations
- Zendesk has dramatically improved its efficiency and visibility as it expands its international presence, with subsidiaries in Denmark (where the company was founded in 2007), the U.K., Ireland, Australia, Japan, and the Philippines. Compared to previous processes with Excel and QuickBooks, the time required for monthly global financial consolidation has been reduced from seven to two days, while overall monthly close times have been cut in half, from 10 to five days.
- NetSuite OneWorld enables a real-time view of subsidiary financials, compared to the monthly snapshots that the previous system provided. NetSuite OneWorld, with its support for 190 currencies, 19 languages and automated tax compliance in over 50 countries, enables Zendesk to comply with local tax regulations and manage subsidiary finances in local currencies, with capabilities for Zendesk to handle customer transactions in local currencies as well.
- NetSuite revenue recognition capabilities enable Zendesk to manage diverse revenue streams from Software-as-a-Service (SaaS) subscription licensing, as well as ad hoc services, training and events.
- The NetSuite Fixed Assets Module has given Zendesk new control over its physical property, while automated amortization and depreciation eliminates what had been one to two days of manual work a month. Revenue recognition provides automated revenue calculations, supports all key standards and delivers transparency and auditability essential for strong financial controls.
- With NetSuite Financial Planning, Zendesk has gained new insights into budget vs. actuals and can better forecast revenues, costs and its best opportunities to continue on a strong growth trajectory.
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