Acusensus taps Oracle NetSuite to unify financial and inventory management

ASX-listed AI-enabled road safety solutions company Acusensus has rolled out Oracle’s NetSuite cloud-based ERP system within its business.

The implementation unifies Acusensus’ financial and inventory management, reducing its monthly close - the process finalising accounts at the end of each month - by 60 percent.

The company claims NetSuite’s financial management capabilities now enable it to close its books in six days, while the platform’s AI has let it triple invoice volumes without a significant increase in headcount.

The platform’s inventory management has also enabled Acusensus to gain real-time visibility into inventory levels, while NetSuite OneWorld allows it to handle multicurrency transactions and consolidate financials across international subsidiaries.

“We have a complex operating model, with a mix of software, hardware and services, and needed to consolidate on a single suite to enable more automation as we entered new markets,” said Anita Chow, CFO at Acusensus.

“NetSuite has helped us unify our finance, procurement, inventory and asset management processes to automate workflows, accelerate reporting, improve business partnering and streamline regulatory compliance as we expand.”

“Organisations with complex business models can be significantly held back by manual processes that limit speed and accuracy and don’t scale internationally,” said Scott Wiltshire, vice president and general manager for Australia and New Zealand at Oracle NetSuite.

“With NetSuite, Acusensus has been able to connect business processes with a single suite to automate and optimise its finance and operations and advance its mission to create safer roads around the globe.”