Customer Success Story

Educative Inc. partnered with Folio3 to implement NetSuite SuiteSuccess Software Standard to replace manual spreadsheets and fragmented processes

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.

Company

Company Size

200-500 employees

Location

Bellevue, Washington

Service Deployed

NetSuite SuiteSuccess Standard Implementation NetSuite Managed Service

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About Educative Inc.

  • Educative Inc. is a leading provider of online learning platforms that engage users with interactive in-browser coding exercises designed to teach, test, and develop the skills of engineering managers and developers.

Educative Inc. & NetSuite

Educative Inc. expected NetSuite to:

  • synchronize and automate its processes
  • record activities
  • Produce consolidated and separate IFRS/GAAP reports
  • historical analyses in minutes

Summary

We helped Educative Inc. move towards automation and get rid of legacy methods.

Folio3’s functional team implemented NetSuite for Educative Inc. replacing manual spreadsheets and disconnected processes. The NetSuite team helped them with:

  • Mapped the course‑to‑revenue workflow: From writer engagement and course launches to tiered discounts, all steps were built into NetSuite transaction flows.
  • Enabled dual‑book accounting: Activated Multibooks for IFRS and GAAP, configured Intercompany Management and Consolidation for clean eliminations, and set up Advanced Revenue Management (ASC 606).
  • Imported historical data: Used detailed data‑prep templates and SuiteScript validations to load legacy transactions across both accounting practices.

The Challenge

  • Reliance on manual spreadsheets and fragmented processes for financial management
  • Lack of an integrated workflow system
  • Inability to efficiently maintain dual-book accounting for both IFRS and GAAP standards
  • Time-consuming intercompany reconciliations that “took days” before implementation
  • Manual revenue schedule updates
  • Inefficient historical data analysis processes
  • Lack of a consolidated financial reporting system

Solution

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.

Result

  • The project received NetSuite’s Spotlight Award for delivering a robust, audit-ready financial platform.

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.

Our implementation approach

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