NetSuite Cloud Accounting Software
- Customer
- Jeena & CO
- Project manager on the customer side
-
- IT Provider
- Jeena & CO
- Year of project completion
- 2023
- Project timeline
- August, 2021 - April, 2022
- Project scope
- 150 man-hours
- Goals
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A. Transformation of Finance and Accounting Application with complete Change Management of Accepting and using a Platform on Cloud.
B. Removing barriers of Data Inconsistency, Correctness, No Backend Update and therefore a Robust Structure where Data Sanctity is achieved.
C. Working and Forming a Strong Partnership which not only provides the speed to operate but also significantly scales productivity to Global Standards.
D. Seamless working with all Structural working of Accounting with the laws of the land to follow and updated on real time basis as per statutory changes and requirements.
E. Creating a strong Sense of ROI, and Value driven approach from the Desk of the CFO.
- Project Results
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Delivered:
1. General Ledger2. Cash Management.3. Accounts Payable.4. Accounts Reconciliation5. Tax Management.6. TDS, invoice, GST7. Dashboards.8. Reporting9. Banking real time direct Interface.10. Backend operations Real time Interface
The uniqueness of the project
Complete Software As A Service (SAAS)2. Pay and Use Model.
4. Scalable beyond Present.
5. Complete Dashboard Way of Working
6. Easy to use, access and Secure.
7. Sandbox part of offering.
- Used software
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Cloud Platform:
1. Architecture Design for N-Number of Users.2. Speed and Accuracy to operate.
3. Complete Security, 2FA, etc
4. DR part of the Deployment
5. Support as a Service
6. India Regulatory enhancements.
- Difficulty of implementation
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1. Vendor Management.
2. Risks and its Mitigation is very important. That's what happened and managed very well.4. Users Inhibition of Old way of working and this transition was managed internally.
3. Effective Deployment has to go through Change Management and Implementation of how the previous System Functioned and how the new One will work.
5. Experts and Champions make a difference.
- Project Description
-
Superseed Expectation to Reality by means of Managing the Project with a Partner. Financial Management yet similar in context to all industries yet has the nuances which are different from one industry to another and one company to another.
PATH:
A. Project was formulated by Discussing the functionality and needs. This requirement was verified in terms of out of the box and customization needed.
B. Negotiation in license and TCO for 5 years was ascertained. Implementation partner was assigned who will work alongside for this Project.
C. Allocation of Required Resources, Timelines of Project, Development stage, QA And Testing and further Golive.
CORE EMPHASIS ON:
Improved business insight from real-time information generated by Dashboards and Reports.
Lower operational costs through streamlined business processes and best practices.
Enhanced collaboration from users sharing data in contracts, requisitions, and purchase orders, Banking, Statutory, Operations to name a few.
Improved efficiency through a common user experience across Finance business functions and well-defined business processes.
Consistent infrastructure from the back office to the front office, with all business activities having the same look and feel.
Higher user-adoption rates from a common user experience and design.
Reduced risk through improved data integrity and financial controls.
Lower management and operational costs through uniform and integrated systems. - Project geography
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1. Global Financials System, Deployed presently for India Centric Usage
2. Confident and presently running this with an Inhouse Team only. No Partner Engagement.4. Confidence in taking on a challenge and achieving was a wonderful dream come true.
3. Team involved in my team DS (digital Solutions) are the same team who operated on the earlier system, expertness of this within the DS Team was the first win.
- Additional presentations:
- Oracle NetSuite Implementation Overview.pdf
On November 30, the professional IT community GlobalCIO hosted a large-scaled international conference "Global CIO Insights: Digital Transformation with AI". During the event, leading experts shared their practical experience in launching projects utilizing artificial intelligence (AI) and highlighted approaches that helped elevate their companies to new heights.
Voting for projects participating in the "Project of the Year" contest is open. The voting began on December 1st and will continue until January 15th inclusive. The winners will be announced on February 7th, 2024.
According to the statistics agency, the number of telecommunication and IT companies has increased 1.8 times in the last five years. At the beginning of 2023, there are more than 12 thousand ICT companies operating in the country. More than 100 thousand people are employed in the industry. At the end of 2022, the volume of ICT services grew by 125.5% and amounted to 22.9 trillion soums, of which 4.2 trillion soums were programming services provided by Uzbek companies and specialists. The total revenue of Uzbekistan's IT sector for the first quarter of 2023 reached 2.38 trillion soums - almost four times more than in the same period of 2022. Exports of digital services increased to $57.2 million. According to IT Park, net income amounted to more than 90% of revenue or 2.158 trillion soums.
According to the statistics agency, the number of telecommunication and IT companies has increased 1.8 times in the last five years. At the beginning of 2023, there are more than 12 thousand ICT companies operating in the country. More than 100 thousand people are employed in the industry. At the end of 2022, the volume of ICT services grew by 125.5% and amounted to 22.9 trillion soums, of which 4.2 trillion soums were programming services provided by Uzbek companies and specialists. The total revenue of Uzbekistan's IT sector for the first quarter of 2023 reached 2.38 trillion soums - almost four times more than in the same period of 2022. Exports of digital services increased to $57.2 million. According to IT Park, net income amounted to more than 90% of revenue or 2.158 trillion soums.
The IT strategy of a large number of companies includes the automation (digitization) of not only accounting processes but also production and logistics processes.