Connect with us

Top Stories

JUAN D. NEPOMUCENO SONS FUELS RAPID BUSINESS GROWTH WITH NETSUITE

Published

on

juand

Philippines Real Estate Developer Deploys NetSuite for Greater Speed, Visibility and Scalability

NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that Juan D. Nepomuceno Sons (JDN Sons), which develops and leases commercial and residential real estate in the Philippines, has deployed NetSuite to modernize its business processes and support rapid business growth. Based in Angeles City, the 36-year-old company is using NetSuite to manage end-to-end financial processes, from quote-to-cash and procurement to financial consolidation and reporting for JDN Sons and four subsidiary real estate companies including TGN Realty Corp. and Angeles Industrial Park. With NetSuite, JDN Sons can dramatically improve its financial management processes with greater speed, visibility and scalability, as it prepares for the 2016 opening of a new commercial building called Entec II. Modernizing its infrastructure with NetSuite can give JDN Sons the scalability to handle the company’s new developments, and to further grow its roster of more than 750 commercial tenants, while avoiding the need to hire additional accounting personnel.

Prior to NetSuite, JDN Sons used a 20-year-old legacy DOS-based application that resulted in lengthy delays to generate financial reports, high degrees of manual reporting, high costs for finance and accounting personnel, and a risk of inaccurate information. Recognizing the need for modernization, JDN Sons evaluated Microsoft Dynamics GP (Great Plains), SAP and several applications from Philippine software vendors. It selected NetSuite as the platform best suited to support its growth because of:

  • NetSuite’s scope of functionality designed for modern businesses, enabling them to streamline mission-critical business processes and improve operational efficiency.
  • A highly scalable system for growth, with the ability to quickly and easily add functionality as a business grows.
  • Built-in business intelligence that provides real-time insights into key business performance indicators for a unified view of the organization, and delivers a single version of truth.
  • A powerful development platform with unprecedented flexibility that enables businesses to tailor the system to meet their unique requirements and industry-specific needs.
  • The high-caliber personnel at the NetSuite Philippines office that support JDN Sons.

NetSuite’s cloud-based architecture enabled the company to avoid the high capital costs of an on-premise ERP alternative. Implementation and ongoing optimizations by PGE Solutions, a 5-Star NetSuite Solution Provider partner headquartered in Manila, has helped JDN Sons speed its time to value with NetSuite.

“We are growing the business, as our Entec II building is expected to increase our revenue stream by 50 to 60 percent, and NetSuite is going to allow us to scale with that growth,” said Arni Valdes, President at JDN Sons. “I don’t know how we would do it without NetSuite—we’d have to hire many more accountants if we were still using our old system.”

Live on NetSuite in December 2014, JDN Sons has been able to:

  • Improve overall financial management efficiency by more than 50 percent, while achieving greater visibility into key financial metrics like expenses and tenant information based on real-time data.
  • Reduce IT costs and better leverage resources to support operations at Entec II in Angeles City, a 26,000-square-meter space which will house about 120 tenants, including consumer-facing businesses and several large business process outsourcing (BPO) and IT firms. The new building is expected to generate roughly P15 million in monthly income, exceeding that of Nepo Mall, a shopping mall in Angeles City with about 200 tenants.
  • Re-evaluate and evolve its business processes to become faster and more transparent with greater end-to-end controls.

“We’ve been cutting weeks from our financial reporting times, which could take three or four months with our old system,” Valdes said. “NetSuite allows us to do reporting much better and faster with real-time data and visibility into transactions at a very detailed level.”

An incremental approach to rolling out the NetSuite modular platform has helped JDN Sons drive user adoption and lays the foundation to leverage additional NetSuite capabilities while future-proofing the company for continued growth and change.

According to Tom Kim, NetSuite Director of Account Management and Managing Director for the Philippines: “JDN Sons is a classic example of a long-standing Philippine company that has seen the need to move away from their legacy systems and adopt new technologies like cloud ERP. More and more companies like JDN Sons have realized the importance of having a flexible, scalable and more agile platform that could further help them take their businesses to new heights.”

Today, more than 30,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-ready cloud business management suites of enterprise resource planning (ERP), customer relationship management (CRM), and ecommerce applications for businesses of all sizes. Many FORTUNE 100 companies rely on NetSuite to accelerate innovation and business transformation. NetSuite continues its success in delivering the best cloud business management suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.

Top Stories

Duo glide around world’s largest fountain in Dubai

Published

on

Duo glide around world's largest fountain in Dubai 1

Paragliders Llorens and Goberna take magical flight above the Palm Fountain.

Horacio Llorens and Rafael Goberna defied gravity to perform The Breaking Pointe flight around the world’s biggest fountain at The Pointe, Palm Jumeirah in Dubai. Here is all you need to know:

– Spaniard Llorens is a five-time world champion and Infinity Tumbling Guinness World Record holder, who has performed a series of spectacular projects during the last five years including paragliding with a flock of starlings and with the beautiful Aurora Borealis as a backdrop.

– Brazilian Goberna was a Guinness Book of World Records winner at only 12-years-old and, in December 2016, he took to the skies above one of the seven wonders of the natural world when paragliding at Iguazu Falls.

– This time around, the duo teamed up in Dubai to showcase The Palm Fountain at the Pointe, Palm Jumeirah. They overcame a tricky preparation period to expertly glide between the fountain’s powerful jets of water.

– Spanning across the boulevard, the Palm Fountain features two giant floating platforms covering 14,000 square metres of sea water. Reaching an impressive 105 metres high and lighting up the Dubai sky with 3,000 LED lights, the fountain “dances” to hit songs from sunset until midnight.

– They undertook training first at Paramotor Desert Adventure on January 12 to test out their brakes and motors with technician Ramon Lopez finally arriving after being held up by the heavy snow in Madrid.

– Training was crucial for the challenge of flying during the night with low visibility as safety director Alan Gayton ensured they had a reserve parachute in case of a technical issue with the main parachute. Llorens and Goberna also had to study the movement of the water with great precision in order not to get caught up in the jets of water

– Flying over water, it was also mandatory to have a lifejacket with rescue boats, jet skis and divers on hand which came handy when Goberna suffered a technical malfunction on the first January 14 practice run.

– After repairs long into the night, they returned to Paramotor Desert Adventure to test out the motors again before completing the stunning flight on January 15 with Llorens and Goberna performing in harmony.

– Llorens, 38, revealed: “As soon as we got the opportunity, we wanted to fly there. We needed to know the area really well beforehand and we needed to know how to ‘play’ with the fountain – this was new for us. Such strong streams of water shooting 100 metres up is a lot, so we had to be really prepared.”

– Goberna, 26, explained: “The motor wasn’t flying so good because, prior to arriving in Dubai, it was last used in Europe at high altitude. I needed to adjust the carburettor in the air inside the motor. In the first practice flight over the water, I broke one propeller. I really couldn’t understand what was happening and then another one broke. Eventually, a backup motor was required. After a long journey, the final result was beautiful! The team worked incredibly hard to make it.”

– Llorens added: “The highlight for me was playing between the super shooters with Rafael, because it’s something we’ve never done before; it felt really new and really powerful.”

Continue Reading

Top Stories

EU sets itself jobs, training and equality targets for 2030

Published

on

EU sets itself jobs, training and equality targets for 2030 2

By Jan Strupczewski

BRUSSELS (Reuters) – The European Commission on Thursday announced goals for the 27-nation bloc to reduce poverty, inequality and boost training and jobs by 2030 as part of a post-pandemic economic overhaul financed by jointly borrowed funds.

The EU executive arm said the European Union should boost employment to 78% in 2030 from 73% in 2019, halve the gap between the number of employed women and men and cut the number of young people neither working nor studying to 9% from 12.6%

“With unemployment and inequalities expected to increase as a fallout of the pandemic, focusing our policy efforts on quality job creation, up- and reskilling and reducing poverty and exclusion is therefore essential to channel our resources where they are most needed,” the commission said.

The goals, which will have to be endorsed by EU leaders, also include an increase in the number of adults getting training every year to adapt to the EU’s transition to a greener and more digitalised economy to 60% from 40% now.

Finally, over the next 10 years, the EU should reduce the number of people at risk of poverty or social exclusion by 15 million from 91 million in 2019.

“These three 2030 headline targets are deemed ambitious and realistic at the same time,” the commission said.

The goals are part of the EU’s set of 20 social rights, agreed on in 2017, to make the EU more appealing to voters and counter eurosceptic sentiment across the bloc.

They say everybody has the right to quality education throughout their lives and that men and women must have equal opportunities in all areas and be paid the same for work of equal value.

The unemployed have the right to “personalised, continuous and consistent support”, while workers have the right “to fair wages that provide for a decent standard of living”.

(Reporting by Jan Strupczewski; Editing by Nick Macfie)

Continue Reading

Top Stories

UK aero-engineer Meggitt eyes return to growth after pandemic slump

Published

on

UK aero-engineer Meggitt eyes return to growth after pandemic slump 3

LONDON (Reuters) – British engineer Meggitt said that it could return to profit growth in 2021 provided there are no further lockdowns, despite a weakening in the struggling aviation market at the end of 2020 and early this year.

Pandemic restrictions halted much flying globally last year and forced plane makers Boeing and Airbus to cut production rates, dragging down suppliers like Meggitt, which makes and services parts for such aircraft.

Meggitt’s underlying operating profit plunged by 53% to 191 million pounds ($267 million) in 2020, it said on Thursday, despite continued growth in its defence business which makes parts for military jets and accounts for about 45% of the business.

Meggitt, however, said it expected air traffic to recover in the second half of the year which would help it return to profit growth over the year, although its guidance for flat revenue disappointed analysts who had expected growth of 6%.

Meggitt’s Chief Executive Tony Wood said in November that he had expected flying to start to recover by Easter, but new variants have led to more restrictions and delayed the recovery.

“It has gone back a couple of months… it’s now very much in the summer,” Wood said of the recovery in an interview on Thursday.

Further in the future, Meggitt is positioning itself for the move to lower emissions flying, and its sensors and electric motors will be used on electric urban air mobility platforms, such as flying taxis, and in hybrid aeroplanes being developed.

But Meggitt said new tax breaks announced in Britain’s annual budget on Wednesday aimed at encouraging investment would not change its plans.

“Yes, it will be a benefit. Are we looking at any acceleration as a result specifically of that? Not really,” Woods said.

Shares in Meggitt were down 1% to 427 pence at 0943 GMT. The stock has risen by 50% since news of a COVID-19 vaccine last November, but is still down 23% on where it was pre-pandemic.

($1 = 0.7165 pounds)

(Reporting by Sarah Young; Editing by Alistair Smout and Susan Fenton)

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

Call For Entries

Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Latest Articles

Newsletters with Secrets & Analysis. Subscribe Now