Avanco selects NetSuite and Adaptive Insights.
Fusion5 to deliver much needed real-time financial visibility.
Avanco Resources Limited, one of the fastest growing copper and gold producers on the Australian Stock Exchange (ASX), has partnered with Fusion5 to implement NetSuite - the world’s #1 cloud business management suite and Adaptive Insights.
Avanco’s corporate head office is in Perth, WA, and the 10-year-old company carries out its mining operations exclusively in Brazil, where it employs 130 staff and more than 200 regular contractors.
Avanco was unsatisfied by the lack of real-time visibility and a time-consuming end of month reporting cycle. They evaluated other ERP solutions, but chose NetSuite and Adaptive Insights because they could be used straight ‘out-of-the-box with reduced implementation time.’
NetSuite will replace the Australian accounting software and integrate with the Brazilian mining operations’ ERP to streamline the Consolidation and reporting processes. Adaptive Insights will provide Avanco with the tools needed for advanced financial budgeting and forecasting.
“We liked the solutions’ capabilities,” says Jairo Bernal, Avanco’s Group Financial Controller, “and that Fusion5 had a strong NetSuite team in Perth. Most importantly, Fusion5 understood our complex business needs – we saw that as value-adding. They knew what we wanted to achieve - that was definitely the winning factor.”
As well as providing the much-needed real-time financial visibility, the solutions will streamline the complex consolidation reporting requirements for both internal and external users. Mr Bernal expects the month-end reporting to be considerably abbreviated. “Our three business priorities are improving time management, adding value to the decision-making process, and reducing manual input. We are confident that NetSuite and Adaptive will deliver all of these improvements to the business.”
Mr Bernal says that it was also important to the business that the solution was cloud-based. “We are a mid-size organisation and we don’t have an IT department to look after all the IT infrastructure.” Being cloud solutions also means NetSuite and Adaptive can provide on-demand availability to a geographically dispersed team.
Fusion5’s solution will use NetSuite OneWorld to manage a multi-currency / country operation, fixed assets; Multi-Book, which will allow Avanco to run numerous sets of books in the same ERP; and Adaptive Insights to provide comprehensive and streamlined budgeting, planning and forecasting – and remove Avanco‘s reliance on Excel.
Brynt Moggach, Fusion5’s Regional Manager in WA, added: “We’re excited to add another customer to our rapidly growing NetSuite practice in Perth. Our WA team has already more than doubled in the last couple of months, and we are delighted to have been selected by Avanco Resources as their partner for this project.”