Singapore-based Carousell Group has implemented Oracle NetSuite’s cloud-based ERP system to unify its financial operations across seven Southeast Asian markets.
This addresses challenges in managing multiple subsidiaries, including issues with consolidation, financial visibility and data accuracy, according to the company. Carousell has streamlined its month-end close process by adopting NetSuite, completing it by the fifth working day. This has enabled more timely reporting and data-driven decision-making.
The ERP system integrates modules such as NetSuite Financial Management, OneWorld and Fixed Asset Management, which the company says provide real-time visibility and standardization across the group. OneWorld facilitates management of multiple currencies and compliance requirements within a unified framework, while Financial Management and Fixed Asset Management streamline core accounting processes and asset tracking, respectively.
Carousell adds that its transition to this cloud-based service also supports its localization needs, ensuring compliance with varying financial regulations across different markets. Moreover, the integration with internal and external systems has reduced manual work and improved data accuracy.
Moving forward, Carousell plans to enhance its reporting capabilities and increase automation by exploring additional NetSuite modules, such as account reconciliation and advanced analytics, to further strengthen its finance operations.
