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  2. Naumi Hotels

Naumi Hotels Simplifies Financial Management to Allow for Smart Expansion

Established in 2007, Naumi Hotels is a Singapore-based boutique hotel group that offers luxurious experiences to guests, with bespoke services and modern design concepts. As it expanded to Australia and New Zealand, Naumi Hotels struggled to handle financials data and reporting standard across seven properties. Disparate business management systems could not scale with the company nor address multi-country tax requirements.

COMPANY

Naumi Hotels

LOCATION

Singapore

INDUSTRY

Hospitality

EMPLOYEES

100-250

REVENUE

$30-50 million

NUMBER OF COUNTRIES

3

SYSTEMS REPLACED

MYOB, Tally

OTHER SOLUTIONS CONSIDERED

SAP, Xero

NETSUITE PRODUCT IMPLEMENTED

NetSuite OneWorld

IMPLEMENTATION PARTNER

Afon Technologies

LOCATION

Singapore

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“With NetSuite as our single source of data, we’ve gained greater insights into our financials. This has helped shape our operational strategy and support growth.” Angelica Diloy, Group Financial Controller, Naumi Hotels

Best-in-Class Hotels, Best-in-Class Financials

Hospitality at its finest
Every Naumi establishment is designed with the unique history of its location in mind and offers stellar customer service, whether it’s grabbing a last-minute dining reservations or arranging complicated transportation. This has helped the hotel group maintain strong customer loyalty while winning awards from media including Forbes, GQ and Monocle.
Struggling with disparate systems
Naumi Hotels initially used MYOB, Tally and Excel for accounting and financial management. Those systems were not integrated with each other and keeping data in silos. They also required a lot of manual inputs and could not address consolidation of reports and simple compliance on multi-country tax requirements. Since it was time-consuming to manage and consolidate financials, Naumi Hotels struggled to make fast and informed decisions, which ultimately slowed down the support that is expected from Finance team and give good value on its expansion in Asia Pacific.
Financials, accelerated
The hotel group deployed NetSuite OneWorld to consolidate its financial data, automate processes such as generating purchase orders, and comply with local tax regulations in Australia, New Zealand and Singapore. It now takes two days, instead of 21, for month-end close and half the time to generate annual financial reports. With more efficient processes, Naumi Hotels’ three accountants in Singapore, four in NZ and one in Australia are able to continue managing the group’s financials even as it grows.
Room to grow
Company stakeholders can now see real-time financial data about individual properties and the business as a whole from a single dashboard. This helps them better forecast revenue and understand their customers, so they can deliver increasingly innovative customer experiences. Naumi Hotels plans to integrate NetSuite OneWorld with its property management system in the near future, to gain a deeper understanding of its financial risks and growth potential. These insights will help leadership chart future expansion within Australia and New Zealand, and into London.

Resources

Demo Watch NetSuite SuiteSuccess Financials First Standard
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