Yellow Brick Road, an Australia-based wealth management and financial services firm, has selected NetSuite, a US-based provider of cloud-based financials software suites, as its business management software platform to support its growth throughout Australia.
Under the partnership, NetSuite will allow Yellow Brick Road to streamline its core business processes, including financial management, financial planning, customer relationship management (CRM), and analytics and reporting.
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NetSuite’s scalable, flexible and easy-to-deploy business management solution will support Yellow Brick Road’s national network of branches and also allows it to extend its business management capabilities.
The implementation of NetSuite will allow Yellow Brick Road to save a significant amount of time spent on accounting procedures; gain the capability for faster data analysis and reporting, focusing more often on individual products and balancing out its data management at the insurance, lending and wealth management divisional level as well as provide acquisition support.
Richard Shaw, CFO of Yellow Brick Road, said: "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.
Whilst we initially deployed NetSuite as a general ledger to meet our reporting requirements, it has quickly evolved to become the go-to system for the majority of our business information, creating consistent data and real-time visibility across the entire business.
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By GlobalData"We have reduced focus on data management to increase our focus on analysis and managing products and effectively free us up to support and respond to growth opportunities," Shaw added.
Mark Troselj, managing director of APAC and Japan for NetSuite, said: "NetSuite’s cloud business management suite enables financial institutions like Yellow Brick Road to meet their unique needs with a single, powerful application and proactively balance risk and opportunity across business processes."
