NetSuite Implementation

Streamlined Operations for a FinTech Company

Industry: Financial Technology
Service: NetSuite OneWorld Implementation|Cloud ERP Migration|Multi-Currency / Multi-Subsidiary Configuration|Compliance & Reporting Setup

Overview

Like many other industries, FinTech companies want to lower their operating costs and unlock new revenue streams — frequently by optimizing operations. Multiple revenue streams are a smart approach whether it’s an investment portfolio or financial services. This case study details how Sphere infused new technology into a FinTech company’s core business using NetSuite.

Pressures FinTech Companies Face

Constant Compliance Pressure

FinTech companies are continuously monitored and required to meet regulatory standards — without compromising the speed at which they ship product.

Global, Multi-Currency Operation

Operating globally in multiple currencies as the business scales puts pressure on accounting, reporting, and financial consolidation.

Visibility Across Financial Data

Leadership needs clear visibility of financial data — and most start with on-premise, home-grown solutions, QuickBooks, or Excel that can’t keep up with growth.

How We Solved It

Implementing NetSuite OneWorld as the cloud-based ERP was fundamental to the growth and efficiency that FinTech companies need to achieve scalability. NetSuite is built to support both global standards and country-specific localized requirements — so the platform fits the business as it expands rather than constraining it.

1. NetSuite OneWorld as the System of Record
Replaced fragmented on-prem and spreadsheet-based finance systems with NetSuite OneWorld — a single cloud-based ERP that scales with revenue, headcount, and entity count.
2. Multi-Language, Multi-Currency, Multi-Subsidiary
Configured NetSuite for multi-language, multi-currency, multi-subsidiary operation, so financial consolidation across operating subsidiaries became a single click instead of a quarter-end project.
3. Compliance & Process Configuration
Configured the system to support regulatory compliance and the FinTech’s specific business-process requirements — security, data protection, and country-specific localizations baked in from day one.

Key Outcomes

Always-On Compliance

With security, data protection, and built-in compliance standards, the FinTech can rest assured that regulatory requirements are met as a property of the platform.

Seamless Financial Consolidation

Multi-language, multi-company, multi-currency global solution makes financial consolidation across operating subsidiaries seamless.

Tooling That Adapts to Growth

NetSuite supports both global standards and country-specific localized requirements, so the technology adapts as the business scales.

Operational Cost Headroom

Lower operating cost from a single, well-configured ERP creates the headroom to invest in new revenue streams instead of patching legacy tooling.

The Results

With security, data protection, and the ability to meet compliance standards, this FinTech company can rest assured that by implementing NetSuite, they maintain regulatory compliance and have the proper tools in place to configure the system to support their business-process requirements. NetSuite as a multi-language, multi-company, multi-currency global solution makes financial consolidation across multiple operating subsidiaries seamless.

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Hear from our clients

Lee Ebreo

VP of Engineering at Credit Ninja

These things would not have been achievable if we did not build our own in-house system and if we did not partner with Sphere to help us achieve our goals.

Selah Ben-Haim

VP of Engineering at Prominence Advisors

Our experience with Sphere and their team has been and continues to be fantastic. We keep throwing new projects at them, and they keep knocking them out of the park (including the rescue of a project that was previously bungled by another vendor).

Ben Crawford

Senior Product Manager at Enova Financial

I would expect to be delighted. It's been a really positive experience, working with Sphere, and I would expect you to have the same.

Mark Friedgan

CEO at CreditNinja

Sphere consistently prioritizes the needs of their clients, demonstrating both agility and teamwork. As an offshore team, they have been an integral part of our organization and we plan to continue growing with them.

René Pfitzner

Co-Founder at Experify

Sphere provided excellent full-stack development manpower to augment our team and help push our product forward. They are easy to work with, tech-savvy and proactive.

Bruce Burdick

Chief Information Officer at Integra Credit

We've been working with Sphere and its excellent consultants since our founding. I've found that they are true partners in the success of our business.

Jemal Swoboda

CEO at Dabble

The resources and developers that Sphere Software provides are skilled and have the required technical expertise, but more importantly, they have helped us build a culture of excellence within our team.

Arthur Tretyak

Founder and CEO at IntegraCredit

With Sphere, we were able to migrate in half the time it would take to train an additional FTE… and for a fraction of the cost. Our experience with Sphere has been exceptional.

Lee Ebreo

VP of Engineering at Credit Ninja

These things would not have been achievable if we did not build our own in-house system and if we did not partner with Sphere to help us achieve our goals.

Selah Ben-Haim

VP of Engineering at Prominence Advisors