NetSuite helps SailGP manage its financial operations and
make strategic business decisions as it expands
SINGAPORE, Jan. 12,
2023 /PRNewswire/ -- SINGAPORE SAIL GRAND PRIX -- SailGP, the
fast-growing purpose-led global racing league, is using Oracle
NetSuite to support its mission to change the face of
competitive sailing. With NetSuite, SailGP has taken advantage
of an integrated business system to manage financial processes in
new countries, broadcast opportunities, and revenue streams as it
aims to double the league's size within two years.
Founded by Oracle chairman and CTO Larry
Ellison and champion sailor Sir Russell Coutts, SailGP is a high-tech racing
league in its third season, featuring nine national teams competing
in identical F50 foiling catamarans. Since its inception, with a
growing international event schedule, multiple boat-building
facilities, and commercial expansion of its design and
manufacturing division, SailGP needed a system that would
streamline global financial functions and help increase
efficiencies to support its expansion plans. To address this
challenge and gain real-time visibility into its operations,
automate core business processes, and enhance decision making,
SailGP selected NetSuite.
"SailGP has ambitious targets to bring the sport to new places
and audiences, and data is critical to both the race crews and
internal teams on that journey," said Julie
Boyd, director of finance, SailGP. "With our targets come a
need for tight control of finances, compliance, cash flow
visibility, and insight to advise the business where to navigate
next. NetSuite gives us that ability. NetSuite enables us to
report, plan, and run multiple potential scenarios and this helps
our finance team advise on strategy, areas of efficiency, and cost
saving. For a multinational, multi-faceted business, NetSuite is
the only way to go."
With NetSuite, SailGP has been able to unify and enhance its
financial operations. NetSuite has enabled SailGP to streamline
financial reporting, improve forecasting, and address its tax and
reporting requirements in the countries it operates in. In
addition, NetSuite has enabled SailGP to gain a more accurate view
into its cash flow, automate its supplier payment processes, and
accurately track the value of assets over time. SailGP also uses
NetSuite to manage internal spend controls, seamlessly support new
entities as the league visits new locations, and create reports for
investors and stakeholders. As SailGP continues to expand, the team
plans to adopt NetSuite CRM and inventory management to manage the
sale and production of technical innovations.
"With exciting opportunities and sustainability objectives in
its future, SailGP needed a unified financial system that could
tackle the complexity of multi-country, multi-faceted operations,"
said David Rodman, SVP of global
customer success, Oracle NetSuite. "With NetSuite, SailGP has a
system that can automate many of its financial processes while
delivering real-time insights to help build on its growing
legacy."
SailGP also uses Oracle Stream
Analytics and Oracle Cloud Infrastructure to capture
and transmit data from 30,000 data points to deliver real-time
racing metrics that allow teams to build their optimal in-race
strategy on the water, and amplify the viewing experience for
fans.
Visit NetSuite's blog and case study to read more
about how SailGP uses NetSuite for smooth sailing in the back
office.
About Oracle NetSuite
For more than 20 years, Oracle
NetSuite has helped organizations grow, scale and adapt to change.
NetSuite provides an integrated system that includes financials /
Enterprise Resource Planning (ERP), inventory management, HR,
professional services automation and omnichannel commerce, used by
more than 33,000 customers in 217 countries and dependent
territories.
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About Oracle
Oracle offers integrated suites of
applications plus secure, autonomous infrastructure in the Oracle
Cloud. For more information about Oracle (NYSE: ORCL), please visit
us at oracle.com.
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SOURCE Oracle NetSuite