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A NetSuite Multi-Book Recovery Mission Success

 A story of an accelerated Big 4 Year-End Audit timeline, a NetSuite Multi-Book reset, complex currency issues, and collaborative partnership.

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Wizeline featured case study (460 x 552 px) accents

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The Challenge

Wizeline's rapid growth led to complex financial reporting requirements:
  • Eight separate jurisdictions, each needing local statutory and tax reporting
  • Consolidated US GAAP reporting requirement and translation of 8 currencies
  • Newly implemented NetSuite Multi-Book environment that didn't go well
  • A brand new accounting team at Wizeline, without historical context on what went wrong during the implementation and go-live just months prior
Adding to the pressure, Wizeline identified these issues in early December, with fully audited financials due by mid-March – leaving just less than three months to diagnose, fix, and verify the solution.
 
Dmitry Gladun, Sr. Accounting Manager at Wizeline, explains the urgency:

"We reached out to Continuous Scale with a problem that had a very fast approaching deadline. Some of the remeasurement mechanisms from local books and local currency to our US GAAP books in USD were not producing the results we were expecting."

The Solution

Continuous Scale tackled Wizeline's challenges with a comprehensive, four-phase approach:
 
  1. Rapid Assessment: Our team quickly dug into Wizeline's NetSuite configurations to identify the root causes of the remeasurement issues. At the same time, our technical accounting and financial reporting experts assessed downstream financial impact to ensure Big 4 audit readiness under a short timeline.
  2. Tailored Solution Design: We developed a custom solution that addressed Wizeline's unique multi-jurisdictional needs while aligning with its year-end audit timeline.
  3. Swift Implementation: By deploying NetSuite developers with public accounting backgrounds, we were able to move quickly by offering efficient end-to-end guidance, strategy, and hands-on implementation.
  4. Continuous Improvement: We established a framework for ongoing refinement, ensuring the solution would scale with Wizeline's growth, automate the ordinary, and position the team as strategic value creators to their global business.

"Continuous Scale quickly grasped our issues and worked efficiently. From the first call, we identified system configuration problems causing unexpected results."

Dmitry Gladun, CPA
Corporate Controller

The Results

The partnership between Wizeline and Continuous Scale yielded impressive results:
 
  1. Clean Audits Across the Board: Successfully closed out US GAAP consolidated audit with a Big Four firm, as well as all required statutory and tax audits across eight jurisdictions.
  2. Error-Free Reporting: Achieved zero identified errors or control deficiencies in all financial reporting.
  3. Accelerated Automation Journey: Made significant progress towards Wizeline's vision of fully automated transaction handling and reporting.

"We closed out our Big 4 audit and all statutory and tax audits, without errors or control deficiencies. Continuous Scale has significantly advanced us towards full automation of transaction handling and reporting."

Dmitry Gladun, CPA
Corporate Controller

 

The Conclusion

As Wizeline continues its growth trajectory, Continuous Scale remains a trusted partner in their journey toward excellence in financial automation. Our ongoing collaboration focuses on:
 
  • Further optimizing NetSuite configurations for scalability
  • Implementing advanced automation workflows
  • Continually aligning financial systems with Wizeline's evolving business needs
Dmitry summarizes the partnership's value:
 

"Continuous Scale shares our vision and brings the right expertise at the right time to build solutions that get us closer to full automation of all transaction processing and reporting."

 
Ready to transform your financial operations? Contact Continuous Scale to explore how we can tailor solutions for your unique challenges and set you on the path to financial automation excellence.
 

Website
wizeline.com

Industry
IT Services and IT Consulting

Employee Count
1000-5000

Key Product
NetSuite Multi-Book

"Continuous Scale quickly grasped our issues and worked efficiently. From the first call, we identified system configuration problems causing unexpected results."

Dmitry Gladun, CPA
Corporate Controller

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