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As Sydney investment firm grows, it moves to NetSuite

NetSuite partner Klugo Group has been selected by investment firm Vertua to consolidate its reporting system and give it transparency across the organisation in the process.

Vertua, which is listed with the National Stock Exchange of Australia (NSX), is based in Sydney and has four investment segments.

The company's property segment is led by property development and regeneration business Fiducia; its print management business led by Horizon Print Managemet, which was acquired by Vertua in 2015; its professional services offered throught the Locums Group and its funds management.

Vertua was looking to transition to a system that was efficient and cost-effective for its three businesses and 15 subsidiaries, so it engaged Klugo to swap out its Xero system for NetSuit's enterprise resource planning (ERP) offering.

"We needed the most efficient ERP on the market," Vertua CFO Christos Kyriakides said. "The main driver for us was consolidation; we had 15 subsidiaries historically accounted for in Xero, which we had outgrown.

"We needed a complete view of the entire business – in real-time. For us, the key point of difference for choosing NetSuite versus the competitors was the price point – there’s no other system on the market like it.”

Klugo Group has been named a NetSuite Five-Star Implementation Partner for Australia and New Zealand for four consecutive years.

According to Vertua, the organisation's internal management and board meetings are more effective and efficient and the ability to analyse profitability by month or quarter in real-time is straightforward.

“Now, we have one view of our entire organisation at the touch of a button, with customised reports to suit our needs, and KPI’s. We used to have endless spreadsheets to find and update – now with NetSuite ERP, we’ve got a one-stop shop for all our businesses,” Kyriakides said.

Read more: JCurve Solutions acquires Riyo Business software

“A key driver for us is that we can clearly spot trends in real-time, and we can see what’s working and what’s not – and in a timely manner.”

Kyriakides said Vertua wanted to work with the number one and that Klugo’s ongoing support provides Vertua with a platform to grow and develop.

Klugo has grown its team to more than 45 staff in recent years across software development, sales, marketing, implementation, consulting and support.

Read more: Xero narrows net loss amid subscriber surge

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