Posted on: 18 August 2015 by Ross McSweeny
Scoot has implemented NetSuite as its core financial management platform in a two-tier enterprise resource planning (ERP) model aligned with an on-premise SAP ERP application in place at the airline’s parent, Singapore Airlines.
Scoot said it chose NetSuite due to factors such as speed of implementation, low cost of ownership, real-time business intelligence and reporting, as well as the breadth and depth that NetSuite provides in financial reporting, multi-currency management and budgeting – all within one platform. Since implementation, NetSuite has supported Scoot in its network growth across Asia and Australia, enabling Scoot to create cost-efficiencies.
“Scoot wanted a modern, agile business platform that could scale rapidly while 'future-proofing' our company for long-term innovation and growth," explained Ng Long Jian, Scoot head of finance. "We looked at other major and more established ERP, but NetSuite was the clear winner in meeting our requirements for cost-efficiency, fast deployment, real-time visibility into the business and flexibility. NetSuite is the perfect fit for Scoot to enable us to transform our business operations and support our growth."
NetSuite gives Scoot a versatile platform for efficient end-to-end financial processes, including vendor payments, revenue reporting and fixed asset management with automated depreciation covering its fleet of Boeing 787s worth well over SGD2 billion. Multi-currency capabilities in the NetSuite International Edition enable Scoot to book revenue and costs in between 10 to 15 currencies. Automated vendor payment processes help to save nearly one-third of full-time resources at Scoot's business process outsourcing (BPO) partner, while on-demand reporting capability provides management with an instant access to key business metrics to drive the business.
"NetSuite provides instant and accurate information to enable good business decision making," added Ng. "We have detailed insights into our financial performance in terms of revenue and key expenditures like fuel, engineering, pilots and crew, airport, staff and advertising, which are significant cost components for an airline operator."