Skip to content

Wizeline's Rapid NetSuite Project Turnaround and Transformation

Watch Video Testimonial Schedule a Conversation

0

Jurisdictions

0%

Error Free Audit

0

Days to Done

0

Periods Closed

As a global technology services provider, Wizeline builds high-quality digital products and platforms that accelerate time-to-market. The focus on measurable outcomes, partnering with their customers to modernize core technologies, mature data-driven capabilities, and improve user experience.

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
The crux of the issue? Currency revaluation feature in NetSuite wasn't calculating the adjusting entries correctly due the incorrect configuration and poorly migrated data during implementation. 
 
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, identifying root causes of the remeasurement issues.
  2. Tailored Solution Design: We developed a custom solution addressing Wizeline's unique multi-jurisdictional needs while aligning with their audit timeline.
  3. Swift Implementation: Leveraging our NetSuite expertise, we optimized currency remeasurement mechanisms across multiple modules.
  4. Continuous Optimization: We established a framework for ongoing refinement, ensuring the solution would scale with Wizeline's growth.

"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 towards financial automation excellence. 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

Latest from our blog (or resources)

Continuous-Scale_800_800_Resources triangle accent triangle accent triangle accent triangle accent

Urna viverra convallis lectus purus imperd

Est bibendum lectus erat vitae lectus sagittis sed tellus. Tempor enim donec id nunc porta quis proin eget euismod integer sed.

Optional CTA