ERP Selection for Energy Risk Management Advisor
Our client is one of the world’s largest and most experienced energy risk management and procurement advisors with over 2,000 employees and operations in nearly 30 countries. Our client works with its customers to manage their energy price risk exposure and to develop and implement risk management strategies to control and reduce their energy expenditures.
Challenge
The client identified a need to replace its legacy ERP solution. The employee responsible for running the system was set to retire, and the client felt the time was right to convert to a more modern, cloud-based technology. The processes surrounding the legacy system were manual, inefficient and prone to error. Due to the limitations of the system, the organization relied upon Excel for most of its reporting needs.
The complexity around this deployment surrounded the client’s revenue recognition and commission management processes. Managing these two areas within NetSuite required significant customization to manage the recognition of revenue and the calculation of commissions stemming from multi-year contracts.
Solution & Delivery
Clarendon Partners was engaged to guide our client through a systems selection using our proven Vendor Selection Methodology. We began with a list of over 20 potential vendors and quickly narrowed it down to four finalists – Infor, Intacct, Microsoft Dynamics SL and NetSuite. Over the course of this vendor selection we performed the following activities:
Defined and documented requirements,
Structured the down-selection of vendors,
Developed the RFP,
Managed vendors and scored their RFP responses,
Selected vendors for demos,
Evaluated the demos, and
Managed the negotiation with the final two vendors (NetSuite and Intacct).
Through performance of these activities, we enabled our client to select the ERP they felt was the best combination of economic value and functional fit for their needs. This vendor selection was completed on time and on budget.
The client selected NetSuite as their ERP solution and separately selected an implementation vendor.
Project Length: 8 Weeks
Impact & Value
With guidance from the Clarendon Partners team, our client selected the ERP tool most appropriate to support their business requirements for the next 5 to 10 years. NetSuite ERP has provided the client’s first ever management dashboard. The system has improved reporting and workflow across core O2C functions and has mitigated key person risk around support of their legacy system.