From fragmentation to foundation: Implementing NetSuite ERP for a digital asset exchange
Discover how we helped our client, a Singapore-based digital asset exchange, tailor and implement a scalable Enterprise Resource Planning (ERP) platform to support its operations and growth.
Service
Sector
Within three months, our client successfully migrated from a fragmented environment to an integrated, future-proof ERP platform.
The Challenge
Our client, a Singapore-based digital asset exchange with networks across Asia and Europe, offered an institution-only venue for tokenising and trading a diverse range of securities and non-bankable assets. However, their disparate systems and processes could not keep pace with their ambitious expansion strategy.
Their key pain points included:
· Siloed data and inefficiency: Financial and master data were fragmented across multiple systems, making it difficult and time-consuming to achieve a single source of truth for reporting and financial closing.
· Delayed reporting: The inability to seamlessly integrate revenue data from their front-end system meant daily reporting and month-end closing were cumbersome and prone to error, limiting management's ability to make timely, data-driven decisions and meet increasingly complex regulatory needs.
· Decentralised billing: Billings were decentralised, and determining the applicable tax code was manual, slowing down the billing process for their customers.
Our client recognised the need for a unified, scalable ERP platform to improve the efficiency of current operations and serve as the technological foundation for sustainable, long-term growth.
The Solution
Leveraging our deep expertise and structured project management approach, we collaborated with our client to implement Oracle NetSuite’s ERP platform tailored to fit their business needs. The project consisted of a phased implementation plan involving key stakeholders in solution definition, configuration, user acceptance testing (UAT), training, and deployment, while ensuring robust documentation at each stage.
Our solution covered the following core objectives and capabilities:
· ERP consolidation: Map out the “to-be” processes, and design the solution blueprint implementing Oracle NetSuite as the centralised platform to consolidate all financial records and master data.
· Strategic advisory: Providing expert consulting on optimal NetSuite configurations and customisations, such as custom tables for tax code mapping.
· Seamless system integration: Integrating NetSuite with the client’s existing front-end system to automatically pull in crucial revenue data daily. Implementing clear, customisable reports within NetSuite to meet both internal management decision-making needs and external regulatory requirements.
· Robust reporting framework: Implementing clear, customisable reports within NetSuite to meet both internal management decision-making needs and external regulatory requirements.
The Impact
Within a tight timeframe of three months, our client successfully migrated from a fragmented environment to an integrated, future-proof ERP platform.
The consolidation of all finance and master data onto NetSuite established a single source of truth, significantly reducing manual reconciliation time and error rates during financial closing. This helped to simplify the customer experience and ensured timely billings and internal reconciliation.
Given our client’s growth strategy in Asia and Europe, this ERP implementation also supported their ability to comply with regional regulations, facilitate multi-currency transactions, and operate at scale.
