Tuesday, 22 July 2014 15:05

NetSuite suits Yellow Brick Road

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Financial services company Yellow Brick Road has adopted NetSuite as its primary software system.

Yellow Brick Road - perhaps best known for personal financial services such as arranging home loans - has rejected on-premises software in favour of NetSuite's cloud-based service for financial management, financial planning, CRM, and analytics and reporting.

The elasticity of a cloud service played a big part in the decision.

"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," said CFO Richard Shaw.

"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."

That includes step-changes resulting from the company's plans for expansion through acquisition.

Yellow Brick Road originally adopted NetSuite for its general ledger function, but has extended its use to cover most of its information management tasks.

Mr Shaw said NetSuite has allowed his team to spend less time on information management and more on analysis and in support of company growth.

"We know we've made a smart technology decision, without having to invest big money in infrastructure that we would probably have to change again in a few years. It was a manageable investment and it is the right technology for our expanding business," he said.

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Stephen Withers

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Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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