Lightspeed Gains Visibility Across The Globe

From Bootstrapped to Venture-backed to IPO, Lightspeed takes Cloud POS Global

An early job as an Apple developer and an appreciation for the difficulty of entering inventory data led Dax Dasilva to found Lightspeed, an inventory-centric point-of-sale platform designed to help small and medium-sized businesses thrive. The Montreal-based company went public in 2019 and now employs over 1,000 people in 14 offices in North America, Europe and Australia, and is depended on by leading retailers Gabrielle Hearst and Vera Wang, Michelin-starred restauranteurs, and legacy brands such as Jack Daniels.

COMPANY

Lightspeed Commerce

LOCATION

Montreal, Quebec

INDUSTRY

Software

REVENUE

$1 billion

EMPLOYEES

1,000+

NUMBER OF SUBSIDIARIES

NUMBER OF COUNTRIES

6 (Belgium, Canada, Germany, Netherlands, United Kingdom, United States)

SYSTEMS REPLACED

QuickBooks, EXACT in the Netherlands

NETSUITE PRODUCTS IMPLEMENTED

OneWorld
Advanced Customer Support

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“NetSuite is really flexible to fit to your needs or connect other programmes to it.” Asha Baksari, CFO, Lightspeed Commerce

Rapid Growth at Lightspeed

Retail POS just the beginning: Bootstrapped for its first seven years, the company earned multiple rounds of venture capital funding to help launch its cloud-based POS and expand its focus from retail to restaurants, ecommerce, analytics and customer loyalty. Acquisitions helped Lightspeed expand in the U.S., Europe and Australia and offer an omnichannel solution for independent businesses.

Entry-level accounting can’t keep up: When a new vice president of finance started in 2015, she quickly realised the growth trajectory Lightspeed was on and the fact that the existing entry-level accounting system and other finance systems could not support it. Following the lead of many other Canadian tech companies, Lightspeed implemented NetSuite.

Managing five subsidiaries in OneWorld: With NetSuite OneWorld, Lightspeed can quickly consolidate views of its five subsidiaries across the globe, manage VAT reporting in Belgium and the UK, and even efficiently manage the company’s IPO process. Sophisticated reporting has also helped deliver detailed information at the C-suite and board level.

Financials just the beginning: Working with NetSuite’s Advanced Customer Support, Lightspeed continues to evaluate new ways the software can impact its business, from demand planning to subscription billing to analytics. NetSuite’s support services team provides the promise of greater efficiencies ahead even as the company scales.

Resources

**Data Sheet** The Solution for Your Global Business

**Article** How to Choose the Right Global ERP System for Your Business

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