NetSuite, a provider of cloud-based financials / ERP and omnichannel commerce software suites, has announced that Roku, maker of the popular streaming platform, has deployed NetSuite’s unified cloud business management system, allowing it to focus on product innovation, scale into new markets, and challenge larger rivals in the fast-growing market for on-demand entertainment.
To ensure agility for innovation and growth, Roku replaced QuickBooks, Smart Turn and numerous Excel spreadsheets with NetSuite OneWorld’s unified cloud-based business management software solution to manage its end-to-end business operations including revenue recognition, financials, customer relationship management (CRM), inventory management and order management. In addition, NetSuite OneWorld gives Roku the ability to manage items and pricing, as well as APIs to support Roku’s transactions from multiple channels. With NetSuite OneWorld, Roku has saved countless hours in manual work previously required to process orders and provide speedy delivery. Roku has also reduced its monthly financial close time by 500 per cent, while gaining the financial visibility and control that was not attainable with QuickBooks.
“NetSuite has allowed us to focus on delivering products and services instead of worrying about the IT side of things,” said Neil Collins, NetSuite Business Systems Analyst, Administrator and Project Manager at Roku. “With NetSuite, we’re able to scale the business very quickly and our visibility is tremendously improved. We now have strong financial controls and a solid infrastructure with great agility to respond rapidly to changing market conditions.”