• Dec. 4, 2016, 8:18 am

Leading marketplace lender to utilize NetSuite technology

Cloud-based financial and omnichannel commerce software provider NetSuite announced leading marketplace lender Avant is now using its OneWorld software to manage daily business functions.

Avant is using it to run financial consolidation, accounts payable, multi-subsidiary management and multi-currency management for the American and Canadian dollars and the British pound.

OneWorld allows Avant to streamline business processes across all subsidiaries, gain operational efficiency, reduce IT cost and overhead, access real-time insights into its business, and gain the agility and scalability it needs to support its hyper growth trajectory.

In a release, NetSuite said many rapidly growing fin-tech companies have to also improve their entry-level accounting systems or they risk hampering their growth. Systems built on legacy technology are rigid and cannot adapt to constantly evolving needs common to modern business.

Businesses now require rapid implementation time, scalable functions which can easily accept added modules required during growth periods, international capability, built-in business intelligence, and simplified maintenance processes.

Avant's Al Goldstein

Avant’s Al Goldstein

CEO Al Goldstein explained why Avant chose NetSuite.

“Our previous system just couldn’t keep pace with the rapid growth we’ve seen in our industry and our business. NetSuite gives us the agility to adapt to change and the scalability we need as we continue to grow domestically and globally.”

After an evaluation process, Avant selected NetSuite to continue to focus on innovation and growth, deploying NetSuite OneWorld as a system that could grow and scale with the business with robust reporting, an intuitive user interface and cloud-based architecture.

NetSuite’s agile, flexible and scalable platform has helped Avant achieve the following benefits:

More than 24,000 companies including many Fortune 100’s use NetSuite technology.

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