SAN JOSE, Calif.,
May 18, 2016 /PRNewswire/ -- NETSUITE
SUITEWORLD 2016 -- NetSuite Inc. (NYSE: N), the industry's
leading provider of cloud-based financials / ERP and omnichannel
commerce software suites, today announced that Boston Globe Media
Partners LLC, the parent company of The Boston Globe, has
implemented NetSuite OneWorld to manage its mission-critical
business processes including financial consolidation, reporting and
accounts payable, replacing a legacy on-premise system. With
NetSuite, Boston Globe Media Partners now has a unified system of
record for its financials across 13 subsidiaries and sophisticated,
drill-down reporting—with anytime, anywhere access—offering
significant savings over its previous system.
Boston Globe Media Partners publishes The Boston
Globe, the largest daily newspaper in New England and the
winner of 23 Pulitzer Prizes. Its holdings also include:
bostonglobe.com, the online edition of the daily paper; boston.com,
a complementary site for news, forums, classified and real estate
listings; their new online reporting website, called "STAT," which
focuses on the medical community; and a direct mail business, Globe
Direct. It joins a fast-growing list of media publishing companies
using NetSuite to transform their business operations, including
Refinery29, Gawker Media, Sonoma Media (Santa Rosa Democrat), PropertyGuru
(AllProperty Media) and The Onion.
In 2013, when The New York
Times sold The Boston Globe to John Henry, an investor and owner of the Boston
Red Sox, the organization's financials were still managed by its
former parent company using a legacy on-premise system. As a
result, requests for reports from the finance team at Boston Globe
Media Partners could take up to two weeks to fulfill, creating
delays in audits, forcing manual workarounds and introducing manual
errors. With the publishing business undergoing massive and rapid
transformation, the previous system left Boston Globe Media Group
ill-prepared to adjust to change and diversify its advertising and
outsourced printing business, while the finance team struggled to
create detailed budget forecasts and analysis and senior executives
had no access to real-time business data. After evaluating
Microsoft Dynamics GP and NetSuite, Boston Globe Media Partners
chose NetSuite for its robust reporting capabilities, modern user
interface, mobile functionality and cloud-based access.
As a result of implementing NetSuite OneWorld in August of
2014, Boston Globe Media Partners has achieved the following
features and benefits:
- Significant savings in IT costs and
complexity. NetSuite's proven, secure cloud
solution helps to eliminate the hassles of managing, maintaining
and upgrading business applications and offered significant savings
over the previous environment, while eliminating the need for one
full-time position in the finance department.
- Real-time business
intelligence. To help maximize profits and
streamline operations, NetSuite's dashboards, reporting and
analytical tools enable Boston Globe Media Partners to monitor,
report and analyze overall business performance in real-time across
disparate business units including print advertising, digital
advertising and circulation. The company's management team is now
able to access detailed insights into its business, anywhere at any
time.
- Financial planning and analysis.
NetSuite's financial planning enables them to conduct
detailed financial planning and analysis, replacing a highly
customized Hyperion solution.
- A flexible and agile platform. The
NetSuite SuiteCloud platform easily enables the company to
customize NetSuite OneWorld to meet its business
requirements.
- Multi-subsidiary management. With
NetSuite, Boston Globe Media Partners can manage the finances for
all its businesses in one central location and add new subsidiaries
in as little as eight hours.
"NetSuite has transformed our reporting," said
Dave Geary, Controller at The Boston
Globe. "The mobile capabilities of NetSuite will ease the burden of
a major office move that will take place in the next six
months. Whether my staff is working at our new HQ, our offsite
offices, or at home, I know that I'll never have to worry about IT
support for them. For me personally, it's great to be able to work
on my month-end close in the office, go home and put my kids to
bed, and then easily pick-up where I left off later that
night.
Today, more than 30,000 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 cloud-based
financials/enterprise resource planning (ERP) and omnichannel
commerce software 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 software to
businesses around the world, enabling them to lower IT costs
significantly while increasing productivity, as the global adoption
of the cloud accelerates.
Follow NetSuite's Cloud blog,
NetSuite's Facebook page and
@NetSuite Twitter handle for real-time
updates.
For more information about NetSuite, please visit
www.netsuite.com.
NOTE: NetSuite and the NetSuite logo are service marks of
NetSuite Inc.
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SOURCE NetSuite Inc.