Blog publishing leader consolidates information for 8 properties, reduces bookkeeping costs by 20% with NetSuite
"We'd predicted 2009 would be a down year, but ended up with significant year-over-year growth. We now have more than 20 million monthly readers, and good part of that success comes from our improved operations efficiency."
—Gawker Media
Results:
- Enjoying significant year-over-year growth, even during the 2009 recession
- Integrated accounts payable and receivable processes cut bookkeeping costs by 20%
- Integrated order-to-accounts payable processes maximize cash on hand
- Production of detailed business reports take seconds, rather than hours
- Fast, consolidated information access lets Gawker continually improve advertising contracts
- Scalability and speed of implementation provides Gawker team with confidence that any future acquisitions will be up and running quickly.
Challenges:
- Operational inefficiencies hindered Gawker's ability to exploit growing popularity
- Difficulty optimizing complex, multi-dimensional advertising contracts utilizing QuickBooks and spreadsheets
- Lack of consolidated financial information led to inefficient billing processes.
Solution:
- NetSuite OneWorld rolls up Gawker's 8 blog properties and associated websites into 5 subsidiaries, which include multiple countries and currencies.
- NetSuite implemented in just 60 days
- A dozen executive dashboards deliver real-time views of ad revenues, AP/AR employees, contractors, and other information.
