Consolidating data from various countries with each running different finance systems was quite time consuming; it took two to three days a month to bring all the data together and present current figures. NetSuite has made that financial consolidation problem go away, now it barely takes half an hour.”

Hywel Gyles

Group Financial Controller, Brandwatch

Company at a Glance

  • Headquarters

    Brighton, England

  • Industry

    Social Media

  • Applications replaced

    Quickbooks

  • Solution

    NetSuite OneWorld

Customer Success

  • Increasing revenue

    Brandwatch, a rapidly growing social media software company, has more than doubled turnover since 2013, taking annual revenues up from £8.8 million to £15.2 million one year later

  • A decade of growth

    Within a decade, Brandwatch has grown from 4 employees to around 400 today

  • Monitor and analyse

    Brandwatch helps brands like BT, Marks and Spencers and L’Oreal monitor and analyse over 80 million social media sources—including blogs, new sites, Twitter and Facebook—as a subscription-based software service to over a thousand clients worldwide

  • Well managed finance department

    Despite staff numbers increasing significantly, the finance team has only grown from six people to 2013 to fourteen today, thanks largely to NetSuite

  • Efficient analysis of the business

    All reporting is now centralised, enabling more efficient analysis of the business, without having to rely on complex Excel spreadsheets

  • Easy Integration

    Easy Integration with other platforms, including billing, expenses and human resources, has taken away a lot of manual work and effort

Partnering with Nolan Business Solutions helped ensure a very swift implementation and proved instrumental in getting us a more focused service and ongoing advice on best practice. It gave us the extra peace of mind for a smooth go-live and experts on call to help deal with a new system.

Hywel Gyles

Group Financial Controller, Brandwatch

Challenges

International growth

After successive years of international growth, Brandwatch found itself running separate accounting systems, originally designed for small business, in three different countries

Data was inconsistent

Data was inconsistent across the business and different configurations and taxation requirements were proving difficult to manage

Didn’t have the resources

Brandwatch didn’t have the resources to develop its own systems and preferred a subscription-based financial solution that would scale as it grew, without having to pay continually for license upgrades and future fixes

Solution

  • Implemented in 14 days

    NetSuite OneWorld was implemented in just 14 days by Nolan Business Solutions for the automatic allocation of expenses and for managing multiple accounting systems across the UK, German and US offices

  • Central record

    Brandwatch uses NetSuite primarily as a general ledger and corporate ERP system to provide a central record of everything that happens in the company

  • Cloud-based management

    The cloud-based financial management system helps the business adjust for currency, taxation and legal compliance issues around the world, including specific sales taxation requirements in the US, as well as VAT across Europe

NetSuite means being able to scale things relatively seamlessly. It helped us get our accounting systems up and running quickly and easily. Even after acquiring a new company everything just fits together as scale is never a problem. It’s a proper enterprise system with seamless upgrades. We’re continuing to reap the rewards.

Hywel Gyles

Group Financial Controller, Brandwatch

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