NetSuite OneWorld – Selling to the Finance Function - CuriousRubik

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OneWorld – Selling to the Finance
Function
© NetSuite Inc. 2013 Confidential 2

Our Mission as we Move Upmarket in ERP

Key Success Factor for Strategy
Have we engaged
the Controller function
appropriately?

Our Mission as we Move Upmarket in ERP

654321
Engage
with
Finance
Winning the Hearts and Minds
Understand the
Unique Role of
the Controller
NetSuite’s
Value
Proposition for
Controllers
Present
NetSuite in
Context
Tools to Build
Credibility
Case Study of
ClearChoice

1
Engage with Finance

Why Does the Controller Have Power?
Situational Knowledge
Will this work for us?
Will it fit in to our culture?
Will this make the department
better?
Will this add value to the
company?

Influence is Created from Trust Relationship
11
More than any
other business
relationship, the
CFO must trust
the Controller

How is Trust Defined?
Character
Competence
Trust

Trust Can Be Shared
If I trust you, and you trust
them then I will trust them
because of you.
Solve the controller’s
problems in such a way
that lets him envision how
to solve the CFO’s
problems.

2
Understand the Unique Role
of the Controller

A Day in the Life of a Controller

Why Do They Feel So Much Pressure?
Unrelenting
Time
Pressure

Controller key responsibilities
“Oversees the “nuts and bolts” of the finance org.”
Maintain a strong control environment to ensure
the integrity of transactions and reporting data
Preparation of Accurate and Timely Financial
Statements
Accounting teams and financial processes
Audit
FP&A (in smaller organizations)
Policy and procedures
Compliance
Treasury (in smaller organizations)
17© NetSuite Inc. 2013 Confidential

Contrast to CFO responsibilities
Strategy
Forecasting
Operations
Board Relations
Risk Management
Capital Structure

Controller Focus
Integrity of data
Accurate and efficient processing of transactions
Account reconciliations
Timely closing of books
Meet reporting deadlines
Short-term cash management of the organization

Controller Concerns
Financial statements fairly
represent the financial
position and operations of the
company
Maintain an adequate control
structure and procedures for
financial reporting
Efficiency and integrity of
systems, processes
Multiple Reporting
requirements/obligations
Audit
Compliance
Cash Flow
Accounting Team

Controller Vision
Accelerate the “close
process” – Closing the books
Seamless flow of accurate,
relevant, timely and
meaningful data across the
organization
Business advisor across the
organization – Strategic
Partner

22
Finance Department Long-Term Objectives
Strategic Business Partner
Decision Support
Planning
Control & Submission
Forecasting
P/L, BS & Cash flow
Variance Reporting
Departmental Analysis
CoreValueAdded
22
Basic Reporting
Transaction Processing & Journals
Internal Controls and Security

Rearden Commerce Controller

3
NetSuite’s
Value Proposition for
Controllers

NetSuite Technologies Strengthen
Competence
Internal Controls
Closing the books
Reporting
Audit and Regulatory
Compliance
Global and Local
Compliance

NetSuite Strengths – Internal Control
COSO define Internal Control as:
“ … as a process …effected by
management ….designed to
provide reasonable assurance
regarding the achievement of
objectives
in the following categories:
- Operational / Strategy
- Reliability of reporting
- Compliance
“provide thought leadership on
the development of
frameworks and guidance on
enterprise risk management,
internal controls and fraud
deterrence”

NetSuite Strengths – internal controls
Five components of
Internal Control
Control Environment
Risk Assessment
Control Activities
Information and
Communication
Monitoring Activities
Examples of Transactional
Control activities
Verifications
Reconciliations
Authorizations and Approvals
Physical Controls
Controls over standing data
Supervisory Controls

Controller Comments – Internal Controls
“Increased confidence with controls and the integrity of the data in
the system” Rearden Commerce Controller
“Inventory management critical in the business and NetSuite has
allowed for the management of Orders, Sales and Inventory in real
time” Miche Bags Controller
“Audit Trail – is GREAT! Who performed what transaction & when”
Mike Foreman, NetSuite Controller
“Netsuite Removes the pain, it is scalable and decreases risk”
Rearden Commerce Controller

Controllers and our competitors talk Internal
Control

Competence
Internal Controls …. Complete 
Closing the books .......
Reporting
Audit
Global and Local Compliance

Controller – Close the books

Closing the books with NetSuite
Accelerate the monthly close
process, eliminate multiple off
line versions
Everything in the one system
and controller controls the entire
close process from within the
system.
Flexible to meet the multiple and
changing reporting needs
Automates consolidation of all
entities with automatic
conversion of foreign currencies
Real time access that delivers
relevant current information to dept.
heads directly to their dashboards
Analytical review and variance
analysis
Period close controls
Greater Visibility and Transparency
across organization

Controller – Closing the Books
“Period Close Checklist” Enables Controller to Control
the Close Process

Controller Comments – Closing books
“Switched from
Quickbooks and
significantly accelerated
Close to 5 regular
business days” Rearden
Commerce Controller
“Rapidly growing and
evolving business.
Information is critical.
Already has accelerated
the close process by
65%” Miche Bags Controller
“NetSuite Consolidation functionality
powerful. Rely on the Audit trail
functionality when determining what has
changed during the close process. Prior
to NetSuite we downloaded information
into excel and consolidated off line.
Numbers frequently changing so data
was out of date before consolidation
complete.” Rearden Commerce Controller
“One system and seamless, Reconciling is
easy” Mike Foreman, NetSuite Controller

Key Takeaway
TIME

Competence
Closing the books ....... Complete 
Reporting ……
Audit

Reporting
It’s EASY
NetSuite becomes
the reporting
source of record
Real Time -“one
version of the truth”
Eliminate off-line
reporting pain
Access Controls
Robust and flexible
COA and
Segmental
Structure
Demo to controller saved search
and can still export to excel

Controller Comments - Reporting
“We can build reports that we
were never able to build
before. This really changed
things for us” Miche Bags
Controller
“Cultural move away from
excel … Now If the data is
not coming from NetSuite
then it lacks credibility” Gawker
Media Controller
“Significantly more robust
then prior reporting” Rearden
Commerce – Controller
Now our reporting structures
allow people across the
organization access
information that is critical to
them but deny access to non
relevant information.” Miche
Bags Controller

Competence
Reporting ....... Complete 
Audit …….

Controller and Audit using NetSuite
Virtual Audit - Auditors can be
given “tailored” inquiry access –
work remotely review
documentation online
Auditors Offsite = REDUCED
COSTS
Increased Transparency and
Seamless (one integrated
System)
SSAE 16 (Audit/Certification of
“NetSuite Software” that Auditors
rely on – E.G. Data warehouse
Security, Code, ETC.)
Auditors easily review control
environment by reviewing roles,
permissions and restrictions, audit
tool and system notes tracks all
transactions and changes in system
System generated supporting
schedules
Perfect for Interim Audits

Competence
Reporting ....... Complete 
Audit ……. Complete 
Global and Local Compliance …..

Summary: Managing Tax & Compliance
– Controller Focus Recap: Integrity, Accuracy, Timely – Trust
– Actively seeking to reduce / avoid ‘risk’
– Tax & Compliance burden increasing Globally
– Traditional ERP solutions cause Compliance Challenges
– Transparency, Systems, Process, Controls
– Ability to meet Tax & Compliance needs absolutely a driver (and
consideration) for a new ERP system from Controller’s perspective
© NetSuite 2013
Sarbanes
Oxley Act
“Senior
Accounting
Officer” rules
increased
"mutual
cooperation"
between
authorities
more
sophisticated
audits
more
aggressive tax
authorities
pace &
quantum of
tax changes
Complexity & Cost
of Reporting
Obligations

Controller’s Focus: Common Questions
– What Countries does NetSuite support for Local Tax & Compliance?
– NetSuite provides the broadest and deepest pre-configured Tax & Compliance solution of
any ERP vendor
– We are deployed in over 110 countries
– We have 51 countries available ‘out-of-the-cloud’
– Local partner engagement required for Brazil, China, Israel & Russia (MSA + License)
– Is NetSuite certified in those Countries?
– We are certified in those countries where it is mandatory for the SW vendor
– We work with customers and local partners to achieve certification in other countries
– Does NetSuite support eFiling?
– We support eFiling where it is mandatory
– We are proactively adding additional countries ahead of local government schedules
– How do I Audit / Verify our Tax Reports?
– Full Drill-down from Summary Tax Report to underlying Transaction Detail
– Confidence provided by Single System / Audit Trail / System Notes / Etc.
Note: More content is currently available on Sales Tools. Deeper
training of global taxation will be provided on an ongoing basis.

Tax Reporting - Supported Countries
© NetSuite 2013 44
01 Australia 18 India* 35 Russia*
02 Argentina* 19 Indonesia 36 Serbia
03 Austria 20 Ireland 37 Singapore
04 Belgium 21 Israel* 38 Slovakia
05 Brazil* 22 Italy 39 Slovenia
06 Bulgaria 23 Japan 40 South Africa
07 Canada 24 Kenya 41 South Korea
08 Chile 25 Mexico 42 Spain
09 China* 26 Netherlands 43 Sweden
10 Columbia 27 New Zealand 44 Switzerland
11 Costa Rica* 28 Norway 45 Taiwan
12 Cyprus 29 Panama* 46 Turkey
13 Czech Republic 30 Peru 47 Thailand
14 Denmark 31 Philippines 48 Uruguay
15 Finland 32 Poland 49 UK
16 France 33 Portugal 50 Ukraine
17 Germany 34 Romania 51 USA
* NetSuite Partner solution
Countries in green = Online filing ready

Audit Transparency – Blow Their Minds!
© NetSuite 2013
45

How To Incorporate in Sales Discussions
– Identify Country Footprint & Dominant/Influential Subsidiaries
– Cross-Reference with Portal, Country Matrix & Sales Tools Materials
– Learn (and Use) the Lingo in Discussions and Demos
– Help the Local/Regional Controller (FD) check the box
– E.g. For Germany reference MWst, Ust, GDPdU, Elster
– Leverage discovery of existing systems to represent NetSuite as a
superior tool for addressing Tax & Compliance challenges
– Proactively seek assistance where International markets are involved
– The right accent / location is more important than you think
– Partner Engagement boosts credibility & may be necessary
– Be confident – our approach and solution is better than any competitor
and way ahead of what they have today
© NetSuite 2013

4
Present NetSuite In Context

49
Controller’s Want to Add Value
Decision Support
Planning
Forecasting
P/L, BS & Cash flow
Variance Reporting
CoreValueAdded
49
Basic Reporting
Transaction Processing & Journals
Internal Controls and Security

Without the core, there
is no value
There are unlimited
opportunities to close
gaps in value
NetSuite is the tool
that can support the
entire pyramid

Frame Non-Financial Aspects to Value
Sales Force
Automation
Improved
Transaction
Processing
Case
Management
Days Sales
Outstanding
(DSO)
Role Security /
Dashboarding
Self Service
Reporting
The Opportunity
Gap

When there are Common Facts
Communication Improves
Communication Effectiveness

5
Tools to Build Credibility

Tools for Selling to the Controller

Demo Sets & Scripts

Education Tracks
Diagnostic Packets
Accounting Use Cases
Scripts

Customer References

6
A Case Study
ClearChoice Dental Implants

Who is
ClearChoice?
Where did we
need
improvement?
What happened?
How does this
apply to you?
Why stay awake for 10 minutes?

Actual Photo of Me Before Great Plains
65

True Believer

What was driving our decision?
500+ employees
32 centers
92 instances of
Great Plains
$0
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
$140,000,000
$160,000,000
$180,000,000
$200,000,000
Annual Sales by Year

Where did we need
improvement?

71
ClearChoice’s Reasons for Change
71
Core
Simple Reporting
Transaction Processing & Journal Entries
Security & Internal Controls
Average for
industry
No Trust
Planning
Forecasting
P/L, BS & Cash flow
Variance Reporting
ValueAdded
Minimal variance
reporting
No influence
Decision Support
No leadershipNo value added
insight

The Call to Action
Doctors worried about accounting
and not patient care
A private equity merger held up
because of the diagnosis
No Trust
No Influence
No Leadership

What happened?

The Cure Resolved the Symptoms
Cloud
technology
provided key
transparency
to investors
Closing reduced
80% to three days
Actionable
business
intelligence
provided to
board
By golly, Jim, I'm
beginning to think I can
cure a rainy day!

Our Private Equity Merger Was Complete
75
Jeff Adams, CFO

76
We Moved Up the Food Chain of Value
76
Simple Reporting
Planning
Forecasting
P/L, BS & Cash flow
Variance Reporting
Decision Support

Examples of Added Value
•2013 departmental
budgets
•Procurement
against budget
•Marketing spend
analysis
•Implant rebate
recovery
•Weekly cash flow
reporting
•13 week cash
forecast
•Bank covenants
•New line approved
Confidence of
our bankers
Private Equity
reporting
Departmental
planning/control
Understanding
our cost
structure

How Does This Apply to
You?

Chief Finance Officer
VP Finance
Controller
Director of Accounting

Connected Benefits to Emotional Drivers
Drill Down Availability Trust
Simple Reporting

We used to argue about
if the numbers were right.

Benefits when put in Context are Powerful
82
Customizable
One Source
of Truth
Data Driven
Flexible
Reporting
Influence
Planning
Forecasting
P/L, BS & Cash flow
Variance Reporting

83
Department heads came to us for
help designing budgets and improving
operations

Fast Close
Actionable
Insight
Leadership
Decision Support

The Takeaways from Our Presentation
Engage Early
Understand
the Controller’s
Needs
Take
Advantage of
our Role
86

Thank You!
Albert Ryan, Chris Miller & Craig
Sullivan

www.curiousrubik.com
@curiousrubik

NetSuite OneWorld – Selling to the Finance Function - CuriousRubik

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