Financial & Accounting Services
Comprehensive global financial and accounting services leveraging Oracle NetSuite to streamline your financial operations, ensure compliance across international jurisdictions, and provide accurate financial insights for businesses worldwide.
Overview
Effective financial management is the cornerstone of any successful business, especially for organizations operating across multiple countries and currencies. Our Financial & Accounting Services leverage Oracle NetSuite's powerful financial management capabilities to transform your accounting operations.
We specialize in designing and implementing comprehensive financial solutions that handle multi-currency transactions, international compliance requirements, and complex consolidation needs. Our approach combines deep NetSuite expertise with extensive financial controller experience to deliver solutions that not only meet current needs but scale as your business grows.
Whether you're a startup establishing your first accounting system or an established enterprise looking to optimize existing processes, our global financial and accounting services provide the foundation for accurate, timely, and compliant financial management worldwide.
What's Included
Global Financial Reporting & Analysis
Comprehensive financial reporting across multiple entities, currencies, and regions. Real-time dashboards and analytics for informed decision-making worldwide.
Multi-Currency Chart of Accounts
Design and optimize chart of accounts structures supporting multiple currencies and international accounting standards (IFRS, GAAP, local standards).
International General Ledger Management
Streamlined general ledger processes with automated journal entries, intercompany transactions, and consolidated reporting for global operations.
Accounts Payable & Receivable
Efficient management of payables and receivables across different countries, currencies, and payment terms with automated workflows.
Financial Close Process Optimization
Reduce month-end and year-end close times through automation, standardized processes, and elimination of manual reconciliation tasks.
International Compliance & Audit Support
Ensure compliance with international accounting standards, tax regulations, and audit requirements across all jurisdictions where you operate.
Use Cases & Examples
Automated Bank Reconciliation
The Challenge
Every month, the accounting team at a European distribution company spent 12-15 hours manually reconciling bank statements. With 800+ transactions across multiple bank accounts in different currencies, they faced constant mismatches, missed transactions, and struggled to complete reconciliations before the month-end deadline. Errors were frequent, and the finance manager couldn't trust the bank reconciliation reports.
What We Did
We implemented NetSuite's Bank Reconciliation module with automated bank feed integration. Configured transaction matching rules to automatically match payments, receipts, and fees. Set up exception workflows to flag unmatched transactions for review. Created reconciliation dashboards showing real-time status across all accounts.
The Results
What once took 12-15 hours now takes just 30 minutes. The system automatically matches 95% of transactions, with only exceptions requiring manual review. Bank reconciliations are completed by day 2 of each month instead of day 10, and the finance team has complete confidence in the accuracy.
Why It Matters
The finance manager now has reliable, real-time visibility into cash positions. Month-end close starts earlier, and the accounting team focuses on value-added analysis instead of manual matching. Audit readiness improved significantly with complete reconciliation audit trails.
Streamlined Month-End Financial Close
The Challenge
A mid-size services company with operations in 8 countries was struggling with their month-end close process. It consistently took 12-14 days to close the books, with multiple rounds of manual journal entries, spreadsheet-based reconciliations, and back-and-forth communication between subsidiaries. The CFO received financial statements too late to make timely business decisions, and the accounting team worked extensive overtime every month.
What We Did
We automated the entire month-end close process in NetSuite. Implemented automated recurring journal entries for standard adjustments. Created reconciliation workflows that route exceptions to appropriate approvers. Built a close management checklist with automated reminders. Configured consolidated reporting that aggregates all subsidiaries automatically. Set up close dashboards showing progress in real-time across all entities.
The Results
Month-end close time reduced from 12-14 days to just 5 days. Manual journal entries decreased by 80%, and reconciliation issues are caught and resolved within 24 hours. The CFO receives preliminary financial statements by day 3, enabling faster strategic decision-making. Overtime costs reduced by 60%.
Why It Matters
The accounting team can now focus on analysis and business support rather than closing the books. Faster close enables earlier board meetings and investor reporting. The company gained a competitive advantage through quicker financial insights that drive business decisions.
Multi-Currency Accounting & Revaluation
The Challenge
An international manufacturing company with subsidiaries in Europe, Asia, and North America faced constant currency accounting challenges. Monthly FX revaluations were done manually in spreadsheets, taking days and prone to errors. Consolidated financials didn't reflect accurate currency impacts, and the CFO struggled to understand true performance across regions. Different subsidiaries used different exchange rates, making consolidation unreliable.
What We Did
We configured NetSuite OneWorld with comprehensive multi-currency setup. Implemented automated daily exchange rate updates from NetSuite's rate provider. Set up automatic FX revaluation workflows for foreign currency balances at month-end. Created currency impact reports showing both transaction and translation impacts. Configured multi-currency consolidation with consistent rate application across all entities.
The Results
FX revaluations now run automatically in minutes instead of taking 2-3 days manually. Currency accuracy improved to 99.8%, eliminating consolidation errors. The CFO receives currency impact analysis automatically, showing exactly how exchange rates affected each subsidiary's performance. All entities now use consistent, real-time exchange rates.
Why It Matters
Financial statements accurately reflect currency impacts, enabling better international business decisions. The finance team eliminated manual currency work, saving 20+ hours monthly. Currency risk is now visible and manageable, with real-time monitoring of FX exposures across all subsidiaries.
Accounts Payable Automation
The Challenge
A growing distribution company processing 500+ vendor invoices monthly was drowning in paper and manual processes. Invoices arrived via email, mail, and fax, requiring manual data entry into NetSuite. Approval workflows were email-based and frequently lost, causing payment delays and vendor complaints. The AP team spent 60% of their time on data entry, leaving little time for vendor management or payment optimization. Late payment penalties were common.
What We Did
We implemented NetSuite's Accounts Payable automation with vendor invoice scanning and OCR technology. Configured automated invoice approval workflows routed by amount, department, and vendor. Set up vendor self-service portal for invoice submission. Integrated with NetSuite's Bill Pay for automated payment processing. Created vendor payment dashboards showing aging, approval status, and payment schedule.
The Results
Invoice processing time reduced from 5 days to 1 day. Manual data entry decreased by 90% through automated invoice capture. Approval cycle time reduced from 7 days to 2 days with automated routing. Late payment penalties eliminated completely. The AP team reallocated 50 hours monthly from data entry to strategic vendor management.
Why It Matters
Vendors receive payments on time, improving relationships and enabling better pricing negotiations. The company captured early payment discounts worth $15,000 annually. AP staff satisfaction improved dramatically as they moved from data entry to analytical work. Cash flow management improved with better visibility into upcoming payments.
Month-End Close Optimization
The Challenge
A mid-size services company was taking 10 days to close monthly books. The accounting team spent the first week manually creating journal entries, reconciling accounts in spreadsheets, and chasing down missing information from different departments. Multiple spreadsheet versions circulated, causing confusion and errors. Intercompany transactions required manual reconciliation, and the CFO couldn't get financial statements until day 12, too late for strategic decision-making. The team worked significant overtime every month.
What We Did
We optimized the entire month-end close process using NetSuite automation. Implemented recurring journal entry templates for standard monthly adjustments. Created automated account reconciliation workflows with exception reporting. Set up close task management with automated reminders and dependencies. Configured intercompany transaction automation to eliminate manual reconciliation. Built close dashboards showing progress in real-time with task completion tracking. Automated preliminary financial statement generation for early insights.
The Results
Month-end close time reduced from 10 days to 4 days. Manual journal entries decreased by 75% through automation. Reconciliation time cut from 3 days to 4 hours. Financial statements available by day 4 instead of day 12. Overtime costs reduced by 80%. Close accuracy improved with automated checks and balances.
Why It Matters
The CFO receives financial insights 8 days earlier, enabling faster strategic decisions and board reporting. The accounting team eliminated overtime, improving work-life balance and reducing turnover. Earlier close enables earlier board meetings and investor reporting. The company gained competitive advantage through faster financial insights that drive business strategy.
Vendor Payment Automation
The Challenge
An international manufacturing company processed vendor payments manually every two weeks. The AP team spent days preparing payment runs, manually selecting invoices, printing checks, and coordinating signatures. Payment approvals were handled via email, causing delays. Some vendors received checks while others got wire transfers, with no consistent process. The CFO had to manually review payment lists, and there was no visibility into upcoming payment obligations. Payment runs took 3 days and were prone to errors.
What We Did
We automated vendor payments using NetSuite's Bill Pay and payment workflows. Configured automated payment run scheduling with approval workflows. Set up payment selection rules based on due dates, vendor terms, and cash flow requirements. Integrated with banking systems for electronic payment file generation. Created payment approval dashboards showing all selected payments with aging analysis. Implemented automated payment notifications to vendors with remittance details. Built cash flow forecasting based on upcoming payment obligations.
The Results
Payment run preparation time reduced from 3 days to 2 hours. Automated payment selection eliminated manual invoice selection. Electronic payments reduced check processing costs by $8,000 annually. Payment approvals accelerated from 3 days to same-day. Zero payment errors with automated validation. Complete visibility into payment obligations improved cash flow management.
Why It Matters
The AP team transformed from payment processors to strategic cash managers. Vendors receive payments faster, improving relationships and enabling better pricing negotiations. The CFO has real-time visibility into cash outflows, enabling better cash flow planning and optimization. Reduced payment processing costs and errors directly improve profitability.
Key Benefits
- Real-time financial visibility across global operations
- Reduced manual work and human errors
- Faster financial close cycles
- Improved compliance and audit readiness
- Better decision-making with accurate, timely data
- Scalable solutions that grow with your business
Ready to Transform Your Financial Operations?
Let's discuss how our Financial & Accounting Services can streamline your global financial management