Philippines Real Estate Developer Deploys NetSuite for Greater Speed, Visibility and Scalability
NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that Juan D. Nepomuceno Sons (JDN Sons), which develops and leases commercial and residential real estate in the Philippines, has deployed NetSuite to modernize its business processes and support rapid business growth. Based in Angeles City, the 36-year-old company is using NetSuite to manage end-to-end financial processes, from quote-to-cash and procurement to financial consolidation and reporting for JDN Sons and four subsidiary real estate companies including TGN Realty Corp. and Angeles Industrial Park. With NetSuite, JDN Sons can dramatically improve its financial management processes with greater speed, visibility and scalability, as it prepares for the 2016 opening of a new commercial building called Entec II. Modernizing its infrastructure with NetSuite can give JDN Sons the scalability to handle the company’s new developments, and to further grow its roster of more than 750 commercial tenants, while avoiding the need to hire additional accounting personnel.
Prior to NetSuite, JDN Sons used a 20-year-old legacy DOS-based application that resulted in lengthy delays to generate financial reports, high degrees of manual reporting, high costs for finance and accounting personnel, and a risk of inaccurate information. Recognizing the need for modernization, JDN Sons evaluated Microsoft Dynamics GP (Great Plains), SAP and several applications from Philippine software vendors. It selected NetSuite as the platform best suited to support its growth because of:
- NetSuite’s scope of functionality designed for modern businesses, enabling them to streamline mission-critical business processes and improve operational efficiency.
- A highly scalable system for growth, with the ability to quickly and easily add functionality as a business grows.
- Built-in business intelligence that provides real-time insights into key business performance indicators for a unified view of the organization, and delivers a single version of truth.
- A powerful development platform with unprecedented flexibility that enables businesses to tailor the system to meet their unique requirements and industry-specific needs.
- The high-caliber personnel at the NetSuite Philippines office that support JDN Sons.
NetSuite’s cloud-based architecture enabled the company to avoid the high capital costs of an on-premise ERP alternative. Implementation and ongoing optimizations by PGE Solutions, a 5-Star NetSuite Solution Provider partner headquartered in Manila, has helped JDN Sons speed its time to value with NetSuite.
“We are growing the business, as our Entec II building is expected to increase our revenue stream by 50 to 60 percent, and NetSuite is going to allow us to scale with that growth,” said Arni Valdes, President at JDN Sons. “I don’t know how we would do it without NetSuite—we’d have to hire many more accountants if we were still using our old system.”
Live on NetSuite in December 2014, JDN Sons has been able to:
- Improve overall financial management efficiency by more than 50 percent, while achieving greater visibility into key financial metrics like expenses and tenant information based on real-time data.
- Reduce IT costs and better leverage resources to support operations at Entec II in Angeles City, a 26,000-square-meter space which will house about 120 tenants, including consumer-facing businesses and several large business process outsourcing (BPO) and IT firms. The new building is expected to generate roughly P15 million in monthly income, exceeding that of Nepo Mall, a shopping mall in Angeles City with about 200 tenants.
- Re-evaluate and evolve its business processes to become faster and more transparent with greater end-to-end controls.
“We’ve been cutting weeks from our financial reporting times, which could take three or four months with our old system,” Valdes said. “NetSuite allows us to do reporting much better and faster with real-time data and visibility into transactions at a very detailed level.”
An incremental approach to rolling out the NetSuite modular platform has helped JDN Sons drive user adoption and lays the foundation to leverage additional NetSuite capabilities while future-proofing the company for continued growth and change.
According to Tom Kim, NetSuite Director of Account Management and Managing Director for the Philippines: “JDN Sons is a classic example of a long-standing Philippine company that has seen the need to move away from their legacy systems and adopt new technologies like cloud ERP. More and more companies like JDN Sons have realized the importance of having a flexible, scalable and more agile platform that could further help them take their businesses to new heights.”
Today, more than 30,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-ready cloud business management suites of enterprise resource planning (ERP), customer relationship management (CRM), and ecommerce applications for businesses of all sizes. Many FORTUNE 100 companies rely on NetSuite to accelerate innovation and business transformation. NetSuite continues its success in delivering the best cloud business management suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.