vivenu GmbH: Fueling Global Growth with NetSuite
and Alta Via Consulting
About vivenu
vivenu GmbH is a dynamic SaaS company that provides the most flexible and advanced ticketing platform, centered around its clients’ brand, sales, and business needs. Operating globally with offices in Germany, Switzerland, France, and the US, vivenu’s vertical-agnostic solution caters to diverse industries. The finance team at vivenu is responsible for all financial aspects, including accounting and tax, internal data provision for decision-making, and treasury services.
Key Facts
Company: vivenu GmbH
Industry: SaaS (Software as a Service): Flexible and advanced ticketing platform
Headquarters: Germany
Global Presence: Offices in Germany, Switzerland, France, and the US.
Employees: around 120
Table of Contents
The Challenge
Laying the Foundation for Scalable Growth and International Expansion
Lost in Spreadsheets: The Daily Data Maze
Before implementing NetSuite, vivenu faced significant operational hurdles stemming from a decentralized financial management. “One of our main pain points was the reliance on outsourced bookkeeping,” explains Steffen Pyka, VP Finance. “This created a lag in accessing financial data. We often had to wait for external reports, slowing internal decision-making.”
Beyond Internal Walls: Visibility for Investors and Audits
The lack of a unified system also led to challenges with data transparency and hindered overall management visibility. “We were working in an environment heavily reliant on spreadsheets,” notes Daniela Rey, Senior Financial Accountant. Different departments and even nascent international operations maintained their financial information in separate spreadsheets.
“Reconciling accounts receivable across these disparate sources was a time-consuming and often frustrating task. This fragmented data landscape made it difficult for management to get a clear, consolidated view of our financial performance, and preparing for audits or providing investors with comprehensive reports was a significant undertaking.”
Daniela Rey, Senior Financial Accountant at vivenu
A Looming Obstacle: Growth on Hold
Steffen Pyka highlights the limitations this posed for their growth ambitions: “As we looked towards expanding internationally, it became clear that our existing financial infrastructure wouldn’t scale.” This realization underscored the critical need for a robust and integrated ERP solution.
“We needed a system that could provide a single source of truth and efficiently manage the complexities of multiple entities and regulatory requirements. As I saw it, we were reaching a point where our current setup was becoming a bottleneck to our growth potential.”
Steffen Pyka, VP Finance
This realization underscored the critical need for a robust and integrated ERP solution.
The Solution
How vivenu Leveraged NetSuite and Alta Via to Power Global Scale
vivenu selected NetSuite as their ERP solution, recognizing its scalability, compliance features, robust consolidation functionality, and taxation module (Nexus). However, a successful implementation required a knowledgeable partner and specific regional adaptations. “We chose Alta Via for their capable approach and the strong recommendations we received within our network,” says Steffen Pyka, VP Finance.
“They came highly recommended, and that trust was crucial for a project of this scale. We needed a partner who understood not just NetSuite but also our specific business needs and growth trajectory.”
Steffen Pyka, VP Finance
Solving the German Puzzle: Compliance Through Localization
A critical component of the solution for vivenu was integrating Alta Via’s “Localization Germany for NetSuite” application. “We quickly realized that standard NetSuite, while powerful, had limitations when it came to our German reporting obligations, particularly concerning HGB and local tax regulations,” explains Daniela Rey, Senior Financial Accountant.
“The standard reporting functionalities didn’t fully address the specific formats and data requirements we needed for compliance in Germany. This is where Alta Via’s localization app became essential.”
Daniela Rey, Senior Financial Accountant
Making It Happen: Structured Support and Seamless Collaboration
Alta Via Consulting not only guided vivenu through the core NetSuite implementation but also seamlessly integrated their “Localization Germany” suite of tools. “A key aspect of our partnership with vivenu was understanding their specific regional requirements,” notes Parth Virkud, Managing Project Manager at Alta Via Consulting.
“Given vivenu’s presence in Germany, the need for compliant HGB and German tax reporting was paramount. Our ‘Localization Germany’ app provides pre-configured reports and functionalities that address these specific needs, saving vivenu significant time and effort in customizing the standard NetSuite environment.”
Parth Virkud, Partner at Alta Via Consulting
All in all Alta Via's comprehensive support during the implementation included:
- Clear project planning & roadmap
- Well-structured training sessions
- Hands-on support & troubleshooting during go-live
- Strong collaboration between the vivenu and Alta Via teams
Early Wins: Greater Transparency and Efficiency
Clear Financial Data for Well-Funded Decisions
The implementation of NetSuite significantly increased the transparency of vivenu’s business processes. “The optimized reporting functionality in NetSuite marked a real turning point,” emphasizes Steffen Pyka, VP Finance. “We now have a much clearer and more comprehensive view of our financial data, centralized in a single system. This not only benefits our internal decision-making; it also creates the necessary transparency for our investors. We now produce reports and analyses much more efficiently, giving everyone a better understanding of our performance and course.”
Saving Time and Increasing Efficiency
Overall, the introduction of NetSuite at SaaS provider vivenu has laid a strong foundation for future growth and efficiency. While specific, quantifiable success metrics are still being captured in the early post-implementation phase, the finance team has already seen noticeable improvements.
“We expect to see significant time savings and efficiency gains once we fully utilize the capabilities of NetSuite. The potential for streamlining our workflows will be considerable.”
Daniela Rey, Senior Financial Accountant
The Backbone of Implementation
A Partnership Built on Trust
A strong partnership with Alta Via Consulting also underpinned the successful implementation.
“The entire process was built on a trusting and open relationship with the Alta Via team,” emphasizes Steffen Pyka. “This collaborative approach was crucial in navigating the complexities of the implementation and ensuring that NetSuite was configured to meet our specific needs. Knowing we had a reliable and communicative partner made a significant difference.”
Steffen Pyka, VP Finance
The Journey Ahead
Future Optimization
vivenu is committed to maximizing the value of its NetSuite investment to support its continued growth. Future steps include further automating processes such as cash management, the Procure-to-Pay (P2P) process, and dunning. Furthermore, vivenu plans to fully leverage NetSuite for financial consolidation and intercompany transactions to streamline operations. By continuously optimizing their NetSuite environment, vivenu aims to achieve greater efficiency and scalability in their financial operations, enabling them to focus on their core business and global expansion.
