SAN MATEO, Calif. and SINGAPORE, Aug. 17, 2015 /PRNewswire/ -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel software suites, today announced that Scoot, a wholly-owned subsidiary of Singapore Airlines, has deployed NetSuite as its core financial management platform in a two-tier ERP model aligned with an on-premise SAP ERP application in place at the parent Singapore Airlines. Scoot chose NetSuite after considering other major ERP solutions due to factors such as speed of implementation, low cost of ownership, real-time business intelligence and reporting, as well as the breadth and depth that NetSuite provides in financial reporting, multi-currency management and budgeting – all within one unified platform. Since implementation, NetSuite has supported Scoot in its network growth across Asia and Australia, enabling Scoot to attain cost-efficiencies and speed to market. Business agility through NetSuite has been critical in helping Scoot drive its exponential business growth while expanding its network across 15 destinations in China, Australia, Hong Kong, Japan, South Korea, Taiwan and Thailand. Scoot views NetSuite as its core ERP solution in its plan to triple its fleet size over the next several years with 20 new Boeing 787 Dreamliners to increase its presence in the medium and long-haul segment.
"As a startup, Scoot wanted a modern, agile business platform that could scale rapidly while 'future-proofing' our company for long-term innovation and growth," said Ng Long Jian, Scoot Head of Finance. "We looked at other major and more established ERP, but NetSuite was the clear winner in meeting our requirements for cost-efficiency, fast deployment, real-time visibility into the business and flexibility. NetSuite is the perfect fit for Scoot to enable us to transform our business operations and support our growth."
NetSuite gives Scoot a versatile platform for efficient end-to-end financial processes, including vendor payments, revenue reporting and fixed asset management with automated depreciation covering its fleet of Boeing Dreamliners worth well over 2 billion Singapore dollars. Multi-currency capabilities in the NetSuite International Edition enable Scoot to book revenue and costs in between 10 to 15 currencies, most often in Chinese Renminbi, Japanese Yen, Australian Dollar, Korean Won and the United States Dollar. Automated vendor payment processes help to save nearly one-third of full-time resources at Scoot's business process outsourcing (BPO) partner, while on-demand reporting capability provides management with an instant access to key business metrics to drive the business.
Implemented by NetSuite Solution Provider M.SaaS Solutions, based in Singapore, NetSuite has enabled additional benefits for Scoot, including:
Personnel savings. Scoot's BPO partner is saving one full-time employee with automated electronic payments, one-half employee with automated journal entries and management information support, which it attributes in part to the use of NetSuite, and passing those savings along to Scoot. At the initial stage, these processes were manually driven, with extensive use of spreadsheets before the capability of NetSuite were fully extricated.
Ease of use. NetSuite's intuitive interface helps Scoot quickly ramp up new users to speed time to value. "NetSuite is very user-friendly with no intensive training needed," said Ng. "New employees tend to pick it up very quickly and often are on autopilot in a couple of weeks."
Extensibility for growth. NetSuite's capacity to roll out different modules and accommodate add-on solutions from NetSuite SuiteCloud Developer Network (SDN) partners and other third parties gives Scoot the ability to adapt its cloud software environment as the business grows and changes.
"NetSuite provides instant and accurate information to enable good business decision making," said Ng. "We have detailed insights into our financial performance in terms of revenue and key expenditures like fuel, engineering, pilots and crew, airport, staff and advertising, which are significant cost components for an airline operator."
Scoot operates medium and long-haul no-frills flights between Singapore and Hong Kong; Sydney, Gold Coast, Melbourne (commencing November 2015) and Perth, Australia; Taipei and Kaohsiung, Taiwan; Bangkok, Thailand; Seoul, South Korea; Osaka and Tokyo, Japan; and Hangzhou, Nanjing, Qingdao, Shenyang and Tianjin, China. Operating a fleet of Boeing aircraft, Scoot provides – in addition to fantastic value airfares – a safe, reliable and contemporary travel experience with a unique attitude – Scootitude™. Scoot is passionate about changing the way people travel long distance. To learn more, please visit www.flyscoot.com.
Today, more than 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 has established itself as the leading provider of enterprise-ready cloud business management suites of enterprise resource planning (ERP), customer relationship management (CRM), and ecommerce 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 suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.
For more information about NetSuite please visit www.netsuite.com.sg.
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SOURCE NetSuite Inc.