CommVault goes live with Netsuite OneWorld

NetSuite, a provider of cloud-based financials/ERP and omnichannel commerce software suites, have announced that CommVault, an enterprise data management, protection and availability software specialist, has gone live with NetSuite OneWorld in more than 25 countries. Live as of December 2013, the global NetSuite OneWorld solution was implemented in five months, plus two months of planning, in a joint effort between CommVault and NetSuite Professional Services.

This modernisation effort has helped CommVault continue to transform its financial and operational infrastructure into an agile and unified cloud global business management platform.

CommVault replaced packaged and homegrown on-premise applications, as well as retired numerous in-house servers by implementing NetSuite OneWorld to manage its global business operations. CommVault is now using NetSuite OneWorld to run business processes including financial consolidation, billing and revenue recognition, multi-currency and multi-language management, fixed assets, professional services automation (PSA), budgeting and forecasting. 

After an evaluation against larger competing solutions, CommVault selected NetSuite OneWorld as the foundation to support and build on the 20% average growth it has enjoyed in recent years, growing revenues to US$586.3 million in fiscal 2014 with more than 20,000 customers. 

NetSuite OneWorld is designed for the needs of global software companies, with built-in support for real-time multi-subsidiary financial consolidation and reporting, multi-currency, multinational taxation rules and unified real-time views into the business performance of each subsidiary. NetSuite OneWorld brings CommVault the following key features and benefits:

Financial consolidation and multi-currency management. NetSuite OneWorld supplies a unified platform for management and financial visibility in more than 25 subsidiaries, more than 10 of them in Europe as well as in Dubai, Singapore, China, South Korea, Japan, Australia and New Zealand. CommVault also uses NetSuite OneWorld for multi-currency transactions in over 20 currencies. With NetSuite OneWorld, CommVault has a real-time view of global financials.

Billing and revenue recognition. CommVault utilises the billing and revenue recognition capabilities of NetSuite OneWorld to streamline diverse revenue streams from perpetual licensing, technical support and professional services, and to accommodate growing lines of recurring revenue.

NetSuite SuiteCloud. CommVault has leveraged the SuiteCloud Development Platform to provide real-time integration between NetSuite and several third-party cloud applications.

Professional services automation. With NetSuite OpenAir PSA, CommVault has streamlined its project management, accounting, resource optimisation and time management processes. NetSuite has enabled CommVault to automate processes across its services business lifecycle including invoicing, revenue recognition and project delivery in multiple countries.

Fixed assets management. Replacing an on-premise fixed asset solution for GAAP accounting, NetSuite Fixed Assets module gives CommVault control over the complete lifecycle across depreciating or non-depreciating assets from creation to depreciation, with seamless integration with NetSuite financials and drill-down to detail.

"The biggest benefits with NetSuite have been automation and workflow," said Eric Luehmann, CommVault Financial Systems Manager. "With NetSuite, we've been able to reduce complexity with a unified platform that integrates with other cloud applications. NetSuite gives us a system that can grow with us."