COOPER SOFTWARE DELIVERS NETSUITE ONEWORLD TO PIRUM, GLOBAL LEADER IN SECURITIES FINANCE AUTOMATION
Scottish software specialist implements cloud-based global business management system, consolidating accounting and CRM processes to global leader in securities finance
Systems integration specialist, Cooper Software, is delighted to announce that they have implemented the cloud-based global business management solution, NetSuite OneWorld, for leading international securities finance vendor, Pirum.
NetSuite OneWorld has been deployed to consolidate Pirum’s accounting and CRM processes. Cooper Software have further developed the solution to make it more closely meet Pirum’s individual business needs through the implementation of two SuiteApps - Fixed Assets and Electronic Payment – which have simplified Pirum’s sales invoicing routine.
Pirum is the global leader in securities finance automation, providing advanced, centralised and secure reconciliation services for financial market participants via a secure processing hub, which seamlessly links almost all of the world’s major securities finance participants with each other, allowing them to electronically process and verify key transaction details. The project capitalises on Cooper Software’s previous experience in delivering NetSuite implementation projects for clients within the global finance industry.
Following recent capital investment to support their expansion, Pirum were looking to replace their legacy Sage accounting solution and Salesforce CRM system with a single, fully automated, multi currency, multi-company solution. They required a system that would allow for integrated, consolidated accounting and the provision of a CRM database to effectively manage their interactions with existing and future clients.
David Cook, CFO of Pirum commented: “We chose Cooper Software due to their experience in implementing ERP systems and their project implementation methodology gave us confidence that the transition from our legacy systems to the new NetSuite solution would be as straightforward as possible. NetSuite proved to be the best solution for the needs of our business in terms of our multi-currency and multi-company accounting requirements, ensuring we have real-time visibility to enable informed decision making.”
Cooper Software implemented NetSuite’s cloud-based global ERP system, NetSuite OneWorld, as it addressed the multi-currency and multi-company needs of Pirum. The solution was able to mirror the multi-tiered structure of their accounting system to support their new US subsidiary, as well as enable the business to adjust for currency, taxation and legal compliance differences. NetSuite OneWorld offered Pirum unprecedented visibility, worldwide, in real time, ensuring consistent, compliant management across the organisation both locally and globally.
The solution was further complemented by NetSuite Advanced Financials which offered Pirum a range of solutions for managing their finances, including budgeting, expense allocations and more flexible billing management tools, making it easy for the finance department to automate billing processes and cut down on the amount of manual labour required.
NetSuite Customer Relationship Management (CRM) software was also deployed to provide Pirum with a real-time 360-degree view of their customers. NetSuite CRM provides a seamless flow of information across the entire customer lifecycle from lead through to opportunity, sales order, fulfillment, renewal, upsell, cross-sell, and support.
The adoption of NetSuite has resulted in the following benefits for Pirum:
• 2 days per month finance administrative and financial reporting time savings
• All data stored on a single cloud-based platform
• Comprehensive multi-currency management and financial consolidation
• Real-time visibility into financials for CRM team to access at anytime, from anywhere
• Global CRM management to align finance, sales and services
Frank Cooper, Founder and Managing Director of Cooper Software noted: “This project has allowed us to capitalise on our experience of implementing NetSuite for other Clients within the global finance industry to provide Pirum with a system that more closely meets the needs of their growing business. At Cooper Software, we use NetSuite every day to manage our own business, which means we have the ability to deliver projects faster and take advantage of best practice and how-to tips we’ve learned through transforming our own business so that our Clients can enjoy the same significant benefits.”
