– Software specialist’s foresight saw it become Scotland’s largest NetSuite provider –
A SCOTTISH cloud software firm has grown 250% in a decade thanks to its far-sighted decision to become a partner for the sale of global business management software, Oracle NetSuite.
Now Eureka Solutions is celebrating the 10th anniversary of the tie-up, and revealed how its confidence in the future of cloud computing has reaped rewards, fuelled growth and created jobs.
At the time of diversification, Eureka Solutions was already firmly established as a leading reseller and developer of Sage software. Adding NetSuite to the portfolio escalated the business’ growth over the last decade to the point where it is now a £5m+ a year business with more than 70 staff, making it the biggest NetSuite partner in Scotland and among the top performing in Europe.
David Lindores, CEO of Eureka Solutions, said: “This is a huge milestone for everyone at Eureka Solutions – including many of the team who delivered the original partnership and are still with us.
“We took a clear decision at a time when many business leaders were unsure about the cloud. Most were very nervous about the possibility of putting finance and accountancy systems on it.
“However, our team was absolutely convinced this was the future, and thanks to that foresight we got an incredible head start which has benefitted our business in many ways. It is a very important anniversary for us.”
NetSuite is a comprehensive suite of business management software that integrates all the important areas and processes of a business so that teams can get instant access to crucial data within one system – easily accessible from anywhere with an internet connection.
When it is effectively tailored and deployed it is transformational and Eureka Solutions has delivered the solution for businesses as diverse as video game developer nDreams, hot tub manufacturer Jacuzzi, Scotland’s airline Loganair and popular bar-meets-table-tennis pub chain, Bounce.
Alan Miles, NetSuite Sales Director at Eureka Solutions, helped deliver the original partnership and explained that the team faced a steep learning curve.
He added: “As a system, it had much more functionality to learn than anything we had worked with before. While we could immediately see the flexibility and potential of how it could be configured in so many brilliant ways, it was new territory and, after a period of intense training and experiential learning, we realised just how beneficial the system was going to be for our customers.”
Within just three weeks Eureka Solutions attracted its first potential customer and then within months successfully completed its first implementation. That first customer deployed is still a customer 10 years on.
Alan added: “The NetSuite partnership was a huge investment and there was a period when we feared it might not pay off. However, once everything clicked into place it has delivered an amazing return on investment.
“It has increased our recurring revenues dramatically. It has also enabled us to work successfully with fast-growth firms, from companies at ‘venture’ stage with investment through to larger businesses than we were previously serving.
“We are now also able to support many businesses that are based in the UK but have overseas operations, because a major benefit of NetSuite is that it is ideal for multinational companies.”
When Eureka Solutions first partnered with NetSuite, it was the first true-cloud business management suite, built for the cloud from the ground up. NetSuite is now used globally by over 32,000 businesses in over 200 countries.
Eureka Solutions has been selected by almost 100 UK businesses as their NetSuite partner, averaging 10 new clients a year. Its staff has more than doubled in a decade.
Alan Miles attributes the success to a cohort of experienced employees who have been with the NetSuite team since the outset and he added: “Most of the team that went through that steep learning curve at the beginning are still here.
“Three senior consultants have been with us for 10 years and others, like me, have been with the company for 15 years or more. We’ve kept that experience and it is a huge advantage.”
As well as specialising in NetSuite, Eureka Solutions continues to successfully deliver, develop and support accountancy software Sage 200. It has further diversified thanks to its fast-growing and proprietary integration software, Besyncly, which helps businesses to link multiple different business systems so that they speak to each other.
The East Kilbride firm has clients across tech, hospitality, non-profit, wholesale distribution, sport, ecommerce, and other sectors. Having operated for more than 18 years, Eureka Solutions is widely recognised as a leader in unifying the business systems of growing organisations – www.eurekasolutions.co.uk