Company
Edgewood Companies
Location
Zephyr Cove, Nev.
Industry
Restaurants And Hospitality
EMPLOYEES
250 to 499
REVENUE
$50 – 100 million
SYSTEM REPLACED
Microsoft ERP
NetSuite Modules Deployed
NetSuite ERP
NetSuite Planning and
Budgeting
NetSuite Advanced Customer Support
LEARN HOW CLOUD ERP CAN STREAMLINE YOUR BUSINESS.
“From both a functionality standpoint and a technology perspective, NetSuite delivered a robust planning and budgeting solution in a tight timeline. Now we have more time for high-value analysis, partnering and collaborating with stakeholders across the business.” Aaron Hartwig, CFO, Edgewood Companies
Moving From Static to Active Planning and Budgeting
- Spreadsheets prove too rigid for a seasonal business
- Edgewood was attempting to budget, forecast and report for a highly variable business with purely manual processes. Static data in spreadsheets failed to project forecasts that could accurately predict efficiency and profitability. Time spent formatting and organising actual-vs-budget reporting left little time to connect budgets to business goals and priorities.
- Welcoming accurate budgeting and reporting
- Edgewood’s finance team replaced its budgeting and reporting spreadsheets with NetSuite Planning and Budgeting, synchronising all data in its NetSuite ERP. Now Edgewood could configure its financial data in real-time, run multiple scenarios to explore different business opportunities and forecast more effectively.
- Making quick, data-driven decisions
- Edgewood is now able to predict occupancy rates and proper staffing counts for each season with accuracy. The finance team can quickly create month-over-month forecasts to account for changing weather patterns and other variables that affect its room counts, table counts and labor models.
- Four seasons of profitability
- Edgewood originally set out to root its business decisions in data and reporting. NetSuite Planning and Budgeting provides the ability to do just that, allowing Edgewood to increase efficiency in multiple areas and remain profitable during both peak and off seasons.
