Tech Consultancy Uses NetSuite OneWorld and OpenAir to Seize Revenue Growth Opportunity
For over 30 years, SYPAQ has provided systems integration, technology consulting, and application development services to Australian companies in industries including defence, aerospace, national security, and IT. SYPAQ has expanded from its headquarters in Melbourne throughout Australia and is now looking to Asia Pacific and beyond, while developing new products and services. In 2016, it launched a range of drones along with autonomous intelligence and data processing solutions. In 2020, the company further bolstered its offering by acquiring Bellinger Systems, a provider of in-service support for defence systems and equipment.
SYPAQ has more than 200 employees across six sites in Australia. It continues to expand its workforce, technical expertise, and geographic coverage to meet the evolving needs of its growing customer base.
Preparing for Growth
A few years ago, SYPAQ had a series of projects in the pipeline with the potential to significantly boost its revenue and long-term growth potential. However, the company used inefficient, manual processes which would require significant additional resources if the business were to expand. For example, the team managed its finances with simple paper-based processes, Excel spreadsheets, and Pronto ERP, which limited integration with other systems across the business. CFO Tim Murton knew that he needed to implement new business management systems and processes to prepare SYPAQ to scale amid growing demand.
“If you're not ready for it, growth can almost kill you,” Murton said. “If you don't have your systems and processes and procedures ready ahead of time, you'll be in a world of trouble.”
Getting Ahead of the Curve
SYPAQ deployed NetSuite OneWorld to consolidate its business functions into a single solution that could provide a view of the entire company’s financials. Real-time data in a single system supports fast and reliable reporting, giving Murton and his team instant visibility into the company's operational and financial performance and removing reliance on spreadsheets.
Murton and his team also use NetSuite’s professional services automation solution, OpenAir, to centralise project management. Automated approvals and billing help SYPAQ get paid seven days faster on average. And with all processes managed in the same system, teams across SYPAQ work more efficiently and better understand how their work impacts financials.
“NetSuite and OpenAir help us manage our financials and everything related to that, from our people to billing, invoices, customers, vendors, and opportunities,” said Murton.
Murton’s plan to fortify the company for growth worked: With NetSuite, SYPAQ has met the anticipated rise in demand without adding finance team headcount. And since implementing the system, it has grown revenue by approximately 30% and its customer base by 20%. SYPAQ’s consulting headcount has also increased by around 25%, without an equivalent rise in administrative staff.
New Capabilities Secure Future Growth
Now that SYPAQ has its financial and project management systems in place, Murton is drawing upon other NetSuite features, integrations, and capabilities with the help of NetSuite Advanced Customer Support (ACS). For example, the SYPAQ team worked with ACS to integrate DocuSign with NetSuite, simplifying the processes of signing off purchase orders, customer contracts, and employee agreements.
With NetSuite as its business system, SYPAQ has all the functionality it needs to support more scale. The team will continue adopting more NetSuite features as SYPAQ grows, confident the system can handle any process they throw its way.
“NetSuite and OpenAir are ahead of where our business is in terms of capability and need,” Murton said. “A business can grow into these systems.”
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