NetSuite Helps Innovative UK Fintech Company Enhance Financial Operations and Reshape Global Payments Industry
LONDON, UK—July 11, 2019—GoCardless, a global direct debit network headquartered in the UK, has selected Oracle NetSuite to support its mission to take the pain out of getting paid for businesses with recurring revenue. With NetSuite, the fintech company, which grew by 60 percent in the last year, has been able to automate financial management and help reduce the complexities of operating across multiple markets, currencies and tax laws as it rapidly expands its international operations.
Founded in 2012, GoCardless has created a global bank debit network to rival credit and debit cards, as well as a platform designed to take invoice, subscription, membership and instalment payments. As demand for its services grows, with $10 billion in transactions a year and 40,000 customers around the world, GoCardless needed a single, scalable business platform that could provide the visibility and control required to optimise its financial reporting. After a careful evaluation, GoCardless selected NetSuite to manage and automate core business processes.
“Since implementing NetSuite, we have gone from basic accounting to conducting in-depth financial analysis,” said Catherine Birkett, CFO, GoCardless. “We can now report financial close faster and more accurately, quickly and easily setup new subsidiaries, and efficiently meet our stakeholders’ reporting requirements. This is incredibly valuable as we continue to expand into new markets and the best part about NetSuite is we now have a solution that will scale with our growth path for years to come.”
With NetSuite, GoCardless will be able to increase the agility of its financial operations as it expands globally. By gaining a unified view into the business, GoCardless will be better enabled to address the complexity it faces with entering new international markets and make decisions more confidently and quickly.
“GoCardless has a very advanced business model that is changing the way organisations collect payments,” said Nicky Tozer, VP of EMEA, Oracle NetSuite. “As its network expands to cover North America, Australia and more than 30 European countries, GoCardless needed a single and scalable business platform that could support its future growth and that’s why it selected NetSuite.”
GoCardless is a global leader in recurring payments. GoCardless’ global payments network and technology platform take the pain out of getting paid for businesses with recurring revenue. More than 40,000 businesses worldwide, from multinational corporations to SMBs, transact through GoCardless each month, and the business processes $10bn of payments each year. GoCardless now has five offices: UK, France, Australia, Germany and USA.