M&A Services Leader Gains Scalability, Agility and Flexibility with NetSuite Cloud ERP & SuiteCloud Platform
San Mateo, Calif., May 4,2016/PRNewsire — NetSuite Inc. (NYSE:N), the industry’s leading provider of cloud-based financials / ERP and omnichannel commerce software suites, announced that SRS Acquiom, a provider of closing and post-closing services for private-company mergers and acquisitions, deployed NetSuite to fuel its business growth. SRS Acquiom uses NetSuite to track mission-critical business processes including accounting, financial reporting, marketing, customer relationship management (CRM), sales pipelines, data storage, billing, and customer service. Leveraging NetSuite’s flexible SuiteCloud development platform, SRS Acquiom can extend native NetSuite capabilities to meet the company’s unique business needs.
Founded in 2007, SRS Acquiom quickly understood that its initial entry level on-premise accounting system and manual Excel-based processes were not going to be able to support and scale with its business. SRS Acquiom selected NetSuite for its ERP and CRM needs, as well as for the flexibility of the NetSuite SuiteCloud development platform, which can allow SRS Acquiom to build out robust custom scripts, fields and workflows to ensure that all of its services are delivered to meet the demanding service levels required of M&A deal parties.
“The best thing about NetSuite is the integration of ERP and CRM coupled with its SaaS-based business model and cloud-based delivery,” said Mark Vogel, co-CEO of SRS Acquiom. “NetSuite’s customization capabilities allowed it to conform to our business processes while scaling with us as our business grew.”
With NetSuite as its system of record, SRS Acquiom has grown to nine global offices, including seven U.S. cities, as well as Israel and Canada, and has managed more than 1,100 M&A deals comprising $185 billionin value while representing over 100,000 shareholders, including such firms as Accel Partners, Greylock Partners and Kleiner Perkins Caulfield & Byers. Acquiom Clearinghouse, its comprehensive M&A payments platform has now processed over $24 billion to nearly 25,000 payees. SRS Acquiom also designs and distributes enhanced M&A escrow investment solutions in partnership with some of the world’s largest financial services companies.
NetSuite can provide SRS Acquiom with the following business benefits:
Robust financial management. SRS Acquiom can have real-time visibility and management control over its accounting, A/R and A/P processes. NetSuite’s reporting infrastructure provides the company with financial reporting tailored to its GAAP, tax and regulatory compliance needs.
Real-time role-based access. NetSuite can provide tailored input screens and dashboards that can be customized based on user roles. This allows the accountants to have views focused on the ERP capabilities of the systems while the sales teams leverage the CRM aspects of the service.
Anytime, anywhere access to critical business data. NetSuite can enable SRS Acquiom users to access their business process tracking systems and data no matter where they are, in the office, on the road, even on a plane.
Significant savings in IT-related costs. NetSuite’s cloud-based architecture can spare SRS Acquiom from managing servers and the hassles associated with on-premise upgrades, while easily connecting its offices spread across the globe via anywhere, anytime access.
Platform flexibility. Leveraging the SuiteCloud development platform, SRS Acquiom has customized NetSuite to meet the specific needs of its business. Integration with Netsuite partner software providers further enhanced the offering with two factor authorization for security, check writing and ACH processing by Piracle, bulk account reconciliation with BlackLine, and more.
Today, more than 30,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of cloud-based financials/enterprise resource planning (ERP) and omnichannel commerce software applications for businesses of all sizes. Many FORTUNE 100 companies rely on NetSuite to accelerate innovation and business transformation. NetSuite continues its success in delivering the best cloud business management software to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.
ABOUT SRS ACQUIOM
SRS Acquiom provides innovative M&A products and services that deliver better economics with unprecedented ease and efficiency for buyers and sellers. Services include industry-leading escrow and payments administration and shareholder representation. Innovations in escrow solutions are utilized in a broad array of transactions, including mergers and acquisitions and insurance. Founded in 2007, SRS Acquiom continues to transform the industry with Acquiom Clearinghouse™, the first and leading online payments platform; Acquiom® Compensation Solutions, a service for processing payments treated as taxable compensation; and ground-breaking escrow investment options based on a unique patented method and tailored for M&A. As the global leader, SRS Acquiom represents 96,000 shareholders in 97 countries and has been engaged on 1,100 transactions valued at $185 billion. Annual data studies and publications are widely used to shape industry best practices.
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Dawn Robert, Associate Director, Marketing and Communications