Customer Success Story
We are proud to share that NetSuite awarded us the 2024 Alliance Partner Spotlight Award for the Education category. This recognition reflects our dedication and hard work. We implemented NetSuite SuiteSuccess Financials First Standard Edition for Ingenius Prep. Our successful implementation, combined with a strong relationship with our client, helped us win this award from NetSuite.
200-500 employees
Bellevue, Washington
NetSuite SuiteSuccess Standard Implementation NetSuite Managed Service
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Educative Inc. expected NetSuite to:
Folio3’s functional team implemented NetSuite for Educative Inc. replacing manual spreadsheets and disconnected processes. The NetSuite team helped them with:
The implementation established comprehensive business operations across finance, procurement, sales, and reporting. It included general accounting setup with subsidiary management, departments, classes, and calendar-based accounting periods, along with features like journal entries, bank feeds, fiscal close, and standard financial reporting. Inventory configuration covered non-inventory and service items to support basic item management. The solution streamlined procurement with vendor master setup, purchase order processing, vendor billing, payments, credits, and prepayments, along with employee master configuration and standard A/P reporting. Sales processes were integrated end-to-end, from customer and contact management to order fulfillment, invoicing, payments, and credit memos. Robust financial visibility was delivered through out-of-the-box NetSuite reports, including income statements, balance sheets, cash flow statements, trial balance, A/R and A/P aging, and detailed transaction-level insights across both purchasing and receivables.
After the implementation of NetSuite SuiteSuccess Software Standard Inc, the system was launched on January 1, 2024, with immediate benefits like consolidated reporting, automated intercompany reconciliations, and instant revenue schedule updates. Folio3 continued providing post-implementation support, including guidance through year-end close and external audit after Educative’s account manager departed.
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