Issue
The client is a leading provider of AI-powered procurement software and negotiation services, helping companies in streamlining sourcing, vendor management, and spend optimization. Designed to empower finance, accounting, and procurement teams, the client’s SaaS platform, backed by $14 billion in spend intelligence, delivers centralized procurement workflows, actionable insights, and continuous access to tools that enhance efficiency, reduce costs, and increase visibility.
The company used QuickBooks to manage contract administration and revenue recognition in Maxio. Revenue workflows relied heavily on manual tasks due to integration and configuration issues, limiting scalability.
A fragmented system landscape made consolidating data and producing accurate, timely financial statements cumbersome and resource intensive. The client could not efficiently track or automate revenue recognition across contracts with usage-based service credits, resulting in time-consuming manual reconciliations outside core systems.
The client sought a single, integrated platform to centralize accounting, contract management, and customer operations, with automation, enhanced reporting, and stronger controls to support its next phase of growth.
Solution
The client looked for a partner with deep technical accounting expertise and experience supporting modern, tech-forward accounting teams, particularly in complex revenue recognition environments.
CBIZ stood out as the only partner able to meet the client’s criteria. From the first conversation, the engagement was not a cookie-cutter implementation based on a go-live checklist. The CBIZ team invested time to understand the client’s business model, accounting workflows, and long-term growth strategy.
CBIZ combined technical depth with practical guidance, designing tailored NetSuite solutions that addressed operational challenges and positioned the client for scale. To serve the client, CBIZ:
- Deployed the NetSuite ERP with Advanced Revenue Management (ARM) and configured revenue items and schedules to support both ratable recognition and recognition tied to service credit fulfillment within the same contracts.
- Implemented a custom script that allowed the client to automate the credit fulfillment process at the contract level on a monthly basis.
- Connected NetSuite to Salesforce via Celigo to automate contract management and revenue workflows.
- Integrated AP tools, including the client’s own platform, to eliminate inefficiencies and ensure seamless vendor payment processing and supplier spend tracking.
- Established direct bank reporting integrations to accelerate reconciliations and shorten month-end close cycles through real-time cash application.
The CBIZ team was accountable, collaborative, proactive, responsive, and highly organized, which made a critical difference in hitting the go-live date. With CBIZ’s support, the client now has a scalable system that transforms financial reporting, contract management, and overall efficiency.
Even after go-live, CBIZ continues to fine-tune the setup, helping the client operate smoothly and benefit from:
Faster, More Accurate Financial Reporting
Reduce manual reconciliations and accelerate month-end close with improved reporting accuracy.
Integrated Bank Feeds and Secure Connectivity
Establish direct connections to multiple financial institutions, including an SFTP integration with HSBC, to streamline cash management and reconciliations.
Streamlined Contract and Revenue Operations
Automate contract entry, revenue forecasting, and reclassifications, with enhanced contract management powered by Salesforce integration.
Automated Tax Compliance
Integrate with Anrok to automate sales tax invoicing, liability tracking, and reporting.
Optimized Payables and Spend Management
Connect NetSuite with the client’s AP tools to automate workflows, improve vendor payment processes, and track supplier spend efficiently.
| Company Information | |
|---|---|
| Industry | Technology |
| Entity Type | Software Development |
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