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  • Yellow Brick Road Selects NetSuite Cloud Business Management Platform 0 comments
    Jul 23, 2014 9:04 PM

    Yellow Brick Road (ASX:YBR) has chosen cloud-based business management software platform NetSuite to support its rapid growth throughout Australia.

    NetSuite has been named by Gartner as the world's fastest growing financial management system used by more than 20,000 global organisations.

    The business management system includes accounting / financials / ERP, CRM and ecommerce.

    Netsuite has replaced the company's existing systems to streamline its core business processes, including financial management, financial planning, customer relationship management (NYSE:CRM), and analytics and reporting.

    The selection of Netsuite's fully integrated solution was made to future-proof its business, as it was the only solution that met all of its requirements and had the ability to keep pace with its steep growth trajectory.

    "NetSuite allows us to easily extend our business management capabilities organically as we grow, as well as more effectively incorporate any new businesses that we may acquire in the future," chief financial officer Richard Shaw said.

    "We now have a solution that has the capacity to adapt to our changing needs over the next ten plus years, not just a stopgap measure to get us through the next couple of years - which the other options we considered would have potentially provided," Shaw added.

    "Whilst we initially deployed NetSuite as a general ledger to meet our reporting requirements, it has quickly evolved to become the go-to system for the majority of our business information, creating consistent data and realtime visibility across the entire business.

    "Because the business is not reliant on long established legacy systems, the transition to NetSuite has been a non-disruptive process."

    Yellow Brick Road had recently acquired mortgage manager and originator RESI Mortgage Corporation Pty Ltd for $36 million and Vow Financial Holdings, one of Australia's largest mortgage aggregators.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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