Oracle NetSuite Global Business Unit, one of the world’s leading providers of cloud-based financials, ERP, HR and omnichannel commerce software suites, announced yesterday that Canada-based Hothead Games implemented NetSuite OneWorld to manage its rapidly growing business.
Hothead Games is one of the top 100 mobile game developers in the world, and uses NetSuite OneWorld to manage their mission-critical business processes including financial consolidation, accounting, purchasing, revenue recognition and multi-currency transactions and multi-country tax compliance.
Since going live on NetSuite OneWorld in February last year, after a rapid two-month implementation, Hothead Games has increased operational efficiency and gained the scalability needed to grow its business.
Based in Vancouver, BC, Hothead Games in one of Canada’s most successful digital entertainment companies. In response to strong demand and new market opportunities, Hothead Games recently expanded its team by 50 percent, which made the company more complex to operate.
In order to successfully manage this growth and to reduce the complexity, the company needed to replace its previous software system. Beforehand, Hothead Games had an accounting system that was slow to generate forecasts and required manual processes to compare actuals against forecast.
“We were always looking for a way to bridge the gap between the analytics in US dollars and the financial results in Canadian dollars,” said Tim Holland, Hothead Games’ Director of Finance.
NetSuite OneWorld currently supports 190 currencies, 20 languages, automated tax calculation and reporting in more than 100 countries, and transactions in more than 200 countries. According to the press release, NetSuite OneWorld delivers the following benefits to Hothead Games:
- Rapid implementation
- Scalability for growth
- Real-time visibility
- Data-driven decisions
- Faster, more accurate reporting
- A broad range of robust international capabilities
“Our business is always changing, so we are always refining forecasts, and NetSuite OneWorld ensures we are all on the same page when making key financial decisions,” Holland added.
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