{"id":26993,"date":"2024-12-19T11:38:54","date_gmt":"2024-12-19T16:38:54","guid":{"rendered":"https:\/\/www.sage.com\/en-us\/blog\/?p=26993"},"modified":"2024-12-19T11:38:56","modified_gmt":"2024-12-19T16:38:56","slug":"tiber-ventures-switch-from-oracle-netsuite","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-us\/blog\/tiber-ventures-switch-from-oracle-netsuite\/","title":{"rendered":"Tiber Ventures eliminates high costs and billing limitations in switch from Oracle NetSuite"},"content":{"rendered":"
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\n\t\t\t\t\t\tTiber Ventures eliminates high costs and billing limitations in switch from Oracle NetSuite\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t

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Tiber Ventures, a streaming video services provider at the time of implementation, is charting a new course with Sage Intacct, eliminating the high costs and billing limitations it experienced with Oracle NetSuite.<\/p>\n\n\n\n

Before the recent sale of our operating assets to a larger firm, the Boston-based company was a broadcaster and cable TV platform with customers across more than 50 countries, had used an enterprise-level NetSuite system for a decade.<\/p>\n\n\n\n

Problem was, Tiber Ventures no longer needed enterprise functionality such as hardware manufacturing and warehousing as it shifted to digital offerings.<\/p>\n\n\n\n

\u201cThe business had pivoted away from supplying hardware and we reduced our physical footprint after Covid,\u201d says Mark Szynkowski, who joined Tiber Ventures as its CFO in early 2023. “NetSuite was unwilling to move us off the enterprise system.\u201d<\/p>\n\n\n\n

Tiber Ventures identified Sage Intacct as a more affordable solution with a full set of capabilities in working with RSM, an IT and business consultancy and five-time Sage Intacct partner award winner.<\/p>\n\n\n\n

\u201cSage Intacct checked all the boxes,” Szynkowski says. \u201cThere wasn\u2019t much reason to look elsewhere with the price efficiencies, all the functionality we needed, and having a strong partner in RSM.\u201d<\/p>\n\n\n\n

New billing efficiency and flexibility<\/h2>\n\n\n\n

Soon after an RSM-led implementation of Sage Intacct and its Contracts module, Tiber Ventures dramatically improved billing processes that had required labor-intensive manual spreadsheet work along additional input and invoicing with NetSuite.<\/p>\n\n\n\n

\u201cWe have really improved our billing efficiencies with Sage Intacct,\u201d says Mark Maney, North American revenue manager. \u201cWe could not generate billing schedules in NetSuite and we struggled with that. We were creating manual spreadsheets and it just got too difficult to find what could be billed and what couldn\u2019t be.\u201d<\/p>\n\n\n\n

Plus, Sage Intacct flexibility lets Tiber Ventures modify billing schedules, templates, and milestones more quickly and easily than could be done in NetSuite.<\/p>\n\n\n\n

\u201cIt’s relatively easy to shift milestones so bills are produced ahead of schedule or delayed to later with Sage Intacct,\u201d Szynkowski says. \u201cIn NetSuite, it was clunky to get invoices generated when things changed.”<\/p>\n\n\n\n

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\u2018Simpler, smarter, and tidier\u2019<\/h2>\n\n\n\n

The shift from Sage Intacct and the Contracts module paid off with greater visibility into cash flow and other key metrics.<\/p>\n\n\n\n

\u201cBecause we were better able to manage billings from the contract level, we were able to see and manage our contracts, and therefore drill down further and assess our cash flow from there,” says the Director of Shared Services and EMEA Accounts.<\/p>\n\n\n\n

As usage deepens, Tiber Ventures expects to further improve accounting efficiency, accelerate the financial close, and deliver better information faster to support data-driven business decisions.<\/p>\n\n\n\n

In a next step, Tiber Ventures plans to roll out dashboards for managers, offering key metrics and drill-down to detail.<\/p>\n\n\n\n

\u201cOur implementation was successful, on time and on budget, which has allowed us to be simpler, smarter, and tidier,\u201d Szynkowski says. “We operate on reality, instead of operating on feel.\u201d<\/p>\n\n\n\n

A scalable best-of-breed tech stack<\/h2>\n\n\n\n

With Sage Intacct as its financial foundation, Tiber Ventures is scaling up a best-of-breed tech stack including Bill.com and now Ramp for accounts payable, Ramp also for credit cards and expenses, Avalara for sales tax automation, and Workday Adaptive Planning for planning and analytics.<\/p>\n\n\n\n

\u201cThe integrations and APIs with Bill.com and Ramp are pretty seamless and the connectivity is instant,\u201d Maney says. \u201cWe\u2019re seeing transactions almost instantly when we push the button on those tools.\u201d<\/p>\n\n\n\n

Tiber Ventures leaders credit RSM for helping it improve financial management with Sage Intacct.<\/p>\n\n\n\n

\u201cThe RSM implementation team was outstanding,” says Szynkowski. \u201cThe expertise of RSM has been very helpful in guiding us through building our tech stack with Sage Intacct.\u201d<\/p>\n\n\n\n

Investor grade SaaS metrics<\/strong><\/h2>\n\n\n\n

Having one SaaS revenue lifecycle led to several critical SaaS finance process evolutions to support this scale:\u00a0<\/p>\n\n\n\n