Scottish software specialist implements cloud-based global business management system, consolidating accounting and CRM processes to global leader in securities finance
SYSTEMS integration specialist, Cooper Software, is delighted to announce that they have implemented the cloud-based global business management solution, NetSuite OneWorld, for leading international securities finance vendor, Pirum.
NetSuite OneWorld has been deployed to consolidate Pirum’s accounting and CRM processes.
Cooper Software have further developed the solution to make it more closely meet Pirum’s individual business needs through the implementation of two SuiteApps – Fixed Assets and Electronic Payment – which have simplified Pirum’s sales invoicing routine.
Pirum is the global leader in securities finance automation, providing advanced, centralised and secure reconciliation services for financial market participants via a secure processing hub, which seamlessly links almost all of the world’s major securities finance participants with each other, allowing them to electronically process and verify key transaction details.
The project capitalises on Cooper Software’s previous experience in delivering NetSuite implementation projects for clients within the global finance industry.
Following recent capital investment to support their expansion, Pirum were looking to replace their legacy accounting solution and CRM system with a single, fully-automated, multi currency, multi-company solution.
They required a system that would allow for integrated, consolidated accounting and the provision of a CRM database to effectively manage their interactions with existing and future clients.
David Cook, CFO of Pirum, commented: “We chose Cooper Software due to their experience in implementing ERP systems and their project implementation methodology gave us confidence that the transition from our legacy systems to the new NetSuite solution would be as straightforward as possible.
“NetSuite proved to be the best solution for the needs of our business in terms of our multi-currency and multi-company accounting requirements, ensuring we have real-time visibility to enable informed decision making.”
Cooper Software implemented NetSuite’s cloud-based global ERP system, NetSuite OneWorld, as it addressed the multi-currency and multi-company needs of Pirum.
The solution was able to mirror the multi-tiered structure of their accounting system to support their new US subsidiary, as well as enable the business to adjust for currency, taxation and legal compliance differences.
NetSuite OneWorld offered Pirum unprecedented visibility, worldwide, in real time, ensuring consistent, compliant management across the organisation both locally and globally.
The solution was further complemented by NetSuite Advanced Financials which offered Pirum a range of solutions for managing their finances, including budgeting, expense allocations and more flexible billing management tools, making it easy for the finance department to automate billing processes and cut down on the amount of manual labour required.
NetSuite Customer Relationship Management (CRM) software was also deployed to provide Pirum with a real-time 360-degree view of their customers.
NetSuite CRM provides a seamless flow of information across the entire customer lifecycle from lead through to opportunity, sales order, fulfillment, renewal, upsell, cross-sell, and support.
The adoption of NetSuite has resulted in the following benefits for Pirum:
- Two days per month finance administrative and financial reporting time savings
- All data stored on a single cloud-based platform
- Comprehensive multi-currency management and financial consolidation
- Real-time visibility into financials for CRM team to access at anytime, from anywhere
- Global CRM management to align finance, sales and services
Frank Cooper, founder and managing director of Cooper Software, noted: “This project has allowed us to capitalise on our experience of implementing NetSuite for other clients within the global finance industry to provide Pirum with a system that more closely meets the needs of their growing business.
“At Cooper Software, we use NetSuite every day to manage our own business, which means we have the ability to deliver projects faster and take advantage of best practice and how-to tips we’ve learned through transforming our own business so that our clients can enjoy the same significant benefits.”
About Cooper Software
Cooper Software is a leading technology consultancy delivering successful and innovative business change to our clients.
As a systems integration specialist Cooper Software focuses on making its clients’ business systems work harder for them. Whether that’s fitting an ERP system to meet unique business processes, enhancing systems with bespoke applications, or providing round the clock support using specifically developed skills, tools and utilities, Cooper Software has the breadth and depth of technical knowledge to make it work.
Cooper Software is an IFS Business Partner, and a Qlik and NetSuite Solution Provider and since being founded in 2005, it has grown to become one of Europe’s largest independent providers of products, consulting services and support for ERP and Business Discovery Solutions. Cooper Software has provided over 250 enterprise and BI solutions for clients all over the world.
Cooper Software is headquartered in Fife, Scotland, with additional offices in Manchester.
For more information on Cooper Software, please visit www.coopersoftware.co.uk
About Pirum Systems
Pirum Systems is the global leader in securities finance automation. The company was founded in June 2000 with the objective of providing advanced, centralised and secure reconciliation services for financial market participants. Pirum provides a secure processing hub which seamlessly links market participants together, allowing them to electronically process and verify key transaction details.
Financial Institutions from around the world have responded to Pirum’s creative approach by joining the secure on-line community. They have increased processing efficiency, reduced operational risk and improved profitability by using Pirum’s services to reduce manual processing.
By combining an in-depth understanding of both the Securities Finance industry and IT, Pirum has created a set of highly innovative and flexible services which are tailored to fully support the complexities of the underlying business processes.
For more information on Pirum Systems, please visit: www.pirum.com
Today, approximately 24,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite Inc. has established itself as the leading provider of enterprise-class cloud financials/ERP, CRM and omnichannel software suites for mid-sized organisations, large enterprises and divisions of large enterprise seeking to update their antiquated client/server ERP and other systems. NetSuite continues its success in delivering the best cloud ERP/financials suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud is accelerating.
For more information about NetSuite, please visit: www.netsuite.co.uk
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