Key Project Facts:
- Implemented SuiteSuccess Software with customised enhancements to Order-to-Cash.
- 30+ subsidiaries across 15 countries, with local finance teams in each.
- Customised billing engine and Salesforce integration completed in phase 2.
- Go-live in 9 months.
Who is Compusoft?
Compusoft (now Cyncly, following a merger with 2020) is a global powerhouse with over 70,000 customers that provides visual CPQ in 100+ countries. It is a fast-growing, private equity-backed, market-leading software (SaaS) provider that has 65+ years of industry experience in delivering specialised visualisation, sales, manufacturing, and content solutions for its customers. After years of rapid growth, Compusoft now has 500+ employees across Europe, North America, Africa, and APAC and achieves an annual turnover of £80m.
Compusoft faced several challenges with its previous financial system set-up, including:
- A lack of visibility of the business’s day-to-day performance.
- No reporting for key decision makers until the numbers were consolidated by the finance team in Excel spreadsheets.
- Manual and time-consuming billing & O2C processes.
- All its local finance teams used different accounting systems, ranging from Visma Business to Sage and Excel, that were struggling to cope with Compusoft’s growth.
- Lengthy month-end process.
This left Compusoft unable to make data-driven decisions and therefore unable to scale for international expansions and future M&A activity.
Why Did Compusoft Choose MacroFin?
Compusoft chose MacroFin due to its knowledge of financial process automation and its ability to provide custom-built solutions in NetSuite.
Using NetSuite’s SuiteSuccess methodology together with enhanced customisations to accommodate the scale of Compusoft’s operations, MacroFin delivered an advanced NetSuite solution during the COVID-19 pandemic and rolled it out across 30+ subsidiaries in 15 countries. This implementation was high touch, with MacroFin working closely with Compusoft throughout the project, especially during the user acceptance training and the data migration. MacroFin also implemented phased go-lives with a pilot launch for the first round, to ensure all subsidiaries could go-live within the required timeframe.
MacroFin applied its proprietary custom-built solutions to solve several complex requirements, including:
- An easy-to-use PDF App allowing invoices to be quickly tailored to local language and brand.
- Automated and dynamic approvals to ensure global cost control compliance.
- Bank payment integration in Europe and Nordics for fast reconciliation.
- A customised Dunning process to improve cashflow in a customer friendly manner.
- Sales invoices are approved via SuiteLet, to review invoices ahead of them being sent to customers.
The Solution & Result:
Compusoft is now seeing multiple benefits from its NetSuite solution, including:
- A single, consolidated view of its complex international business.
- A scalable and consistent billing approach across all countries for a complex product set.
- Faster processing of transactions through automation, freeing up the finance team for value-added activities.
- A standardised and improved global cost control process.
- Real-time KPI visibility, financial consolidation, and management reporting across the business.
- Actionable insights to inform swift and strategic decision making.
- A robust, scalable platform to support continued international growth.
Compusoft also underwent a Phase 2 project with MacroFin which took it on a journey up the NetSuite SuiteSuccess stairway. This included:
- A Salesforce and NetSuite integration with a complex customised billing solution.
- The automation of Compusoft’s procurement process through the introduction of purchase order controls.
- The addition of subsidiaries in other countries through M&A activity.
- Implementation of SuiteProjects.
Terje Lundberg, Director of Finance, Compusoft Group says:
“Our decision to replace and consolidate our legacy accounting applications with NetSuite has proven to be a success. This was made possible by the consulting services of MacroFin, whose technical and accounting expertise was particularly important when tailoring the system’s Leading Practices to our needs and supporting us through the go-live process.
I now have the real-time visibility and control needed to guide the future global growth of the business, as well as the process automation and data consistency to make faster, more informed decisions.
I look forward to the future benefits the NetSuite platform has to offer, through our ongoing partnership with the MacroFin team!”