BMW ORACLE Racing uses NetSuite to manage all of its financial operations

"NetSuite is our total financial package, and we use the real-time dashboards to have the numbers at our fingertips, and to prepare all of our monthly management reports at the line manager level, and our senior managers use it for overviews of the entire operation.” — Diana Puketapu, CFO BMW ORACLE Racing

At A Glance:

• Company: BMW ORACLE Racing
• Location: Auckland, New Zealand; Valencia, Spain
• Industry: Sports/Entertainment, Advertising/Marketing
• Challenge: - Manage a global business (New Zealand, Spain and U.S.) with minimal overhead - Meet the needs of budget, local tax requirements, statutory reporting and multi-currency management - Be flexible to the nuances of the unique industry of sailboat racing - Support international accounts management around the world and around the block
• Results: - Achieving reliable international accounting with limited staff - Reliable, low-cost operation protects sponsorship dollars for investment in race operations - Real-time dashboards and reporting allow company to work across geographic, currency and time zone barriers

The Results:

BMW ORACLE Racing uses NetSuite to manage all of its financial operations, including the complete team expenses leading up to the Louis Vuitton Cup and America's Cup races. With NetSuite, the team is able to easily coordinate its accounts and payables in each of its three locations — Anacortes, Washington, USA, where the hulls are built; Valencia, Spain, where most of the team is headquartered, and Auckland, New Zealand, where a small office is based.

NetSuite provides BMW ORACLE Racing sophisticated financial software to meet the needs of budget management, local tax requirements, statutory reporting and multi-currency management, allowing the business to operate … http://www.ukitdirectory.com/whitePapers/97