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While companies globally are racing to the cloud, NetSuite is charting the path to greater productivity, efficiency, and sustainability. Thousands of companies across the globe rely on NetSuite to successfully execute their enterprise cloud ERP strategy and take their financial and operational processes to the cloud.
However, the lack of expertise and robust understanding of the NetSuite solutions and services act as a stumbling block in their implementation. For effectively harnessing the potential of NetSuite solutions, Maxcon Consulting stands a mile ahead in the competition. As a leading finance and ERP advisory firm based in Dubai, Maxcon is a highly trusted ORACLE partner for ERP solutions. The company has successfully delivered over 60 successful implementations.
To help readers understand Maxcon Consulting’s value proposition, we interviewed the two founding Managing Partners Mr. Andrea Pesenti and Mr. Usman Siddiqui. They explain about Maxcon’s unique strategies and capabilities in assisting clients to embrace the benefits of Netsuite.
1. What are some of the trends that you expect to have an impact in the NetSuite Solutions arena this year and how is Maxcon planning to leverage these trends and evolve?
We are focused on the Middle East and Pakistan markets, wherein several events are impacting businesses to leverage technology on a higher scale. The introduction of value-added tax (VAT) is already rolled out in UAE and Saudi Arabia, leading the government and tax authorities to scrutinize the books of companies for audit tax returns. According to the tax authority’s guidelines, companies have to digitalize their accounting records and document retention.
The market has become more responsive towards cloud solutions and earlier concerns of hosting data with the third party have been overcome with modern trusted solutions, in this context Oracle acquisition of NetSuite paved way for greater penetration as companies regard Oracle data centers as highly secured.
GCC market has a very little component of local manpower and most of the working community is expat-dominated, therefore process automation is one of the drivers to make the economy less dependent on foreign workers and achieve autonomy.
Maxcon being primarily a digital finance consulting company analyze the digitalization requirements of our customers with a process-driven approach. We facilitate a significant level of consulting to address and bridge the gaps through the NetSuite ecosystem. Our high end proven capacity to customize NetSuite that includes several processes such as PDCs, localized payrolls, point of sales, construction, real estate, and manufacturing bundles are highly regarded by existing customers and prospects.
One of the key differentiating factors of Maxcon is the process-driven approach guidance we provide to our customers to navigate the NetSuite labyrinth
2. What are the challenges that organizations face in the NetSuite Solution space and how is Maxcon effectively addressing them?
Some localization issues relating to PDC cheques, localized payroll, point of sales solution could hold back NetSuite in GCC market. However Maxcon already developed these solutions through customized bundles for the Middle East. Despite few gaps the product road map of NetSuite appears promising to develop solutions covers the complete requirements across all verticals.
3. Please shed some light on NetSuite solutions? What according to you makes Maxcon different from its peers?
NetSuite ERP provides complete transparency into the business operations. With NetSuite, companies can reduce IT costs by 50 percent or more, accelerate financial close and reduce audit preparation time.
One of the key differentiating factors of Maxcon is the process-driven approach guidance we provide to our customers to navigate the NetSuite labyrinth. The highly skilled development team empowers clients with sustainable solutions, localized approach, as well as extended support on data cleansing during the migration stage.
4. Could you please cite a case study on how Maxcon enabled clients to overcome hurdles and attain desired outcomes with your innovative array of solutions?
We assisted the world’s leading duty-free expansion with NetSuite. The client was struggling to set up the ERP system in three countries within eight weeks to recover nine months of manual operations. With partnership support from Oracle NetSuite, Maxcon was able to complete it in 8 weeks across three countries using financials, fixed assets, and OneWorld multi subsidiary functions. The system provided complete guidance on business processes and value-added support on data cleansing and migration. We also recovered significant Houston operations via timely implementation of ERP and enabled booking of over 3000 fixed assets—tangible, intangible and CWIP. In addition Maxcon was able to turnaround the operations of a chemical manufacturing based in UAE to deploy NetSuite and enabled the company to gain extensive visibility on working capital issues. Having a perfect NetSuite implementation the company could reduce its collections days from 180 to 90 days, able to reduce production costs by managing wastages and in return restoring the shareholder confidence and raised additional funds to expand in 3 more countries.
5. How has Maxcon evolved over the years? Also, what is the company’s next big step?
Maxcon’s journey from 0 to 60 NetSuite deployments happened in just three years, which also involves over 80 percent annual business growth, 100 percent client retentions, more than 70 percent cross and up-sells, and acquisition of 75 reputed logos for ERP and consulting services.
In the recent wave of expansion, Maxcon signed the sales rights for Pakistan and was able to close its first deal in the first month of sign up, we are actively working on opportunities in Africa region where the cloud concept is highly practical.
Maxcon plans to set up competence center in Pakistan leveraging high skilled accounting skills to support in global implementations. We also intend to start the Oracle NetSuite training center for certification of consultants to meet global demands.
We are actively working with influencers that include accounting practices, IT consultants, SME bodies, and private equity firms to educate and engage them with NetSuite offerings.