ABACI | Top Accounting Solution Company-2020

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ABACI: NetSuite - A Modern Platform for Growing Companies

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Eric Park, Chief Growth Officer, ABACIEric Park, Chief Growth Officer
Businesses across the country are growing faster than ever in today’s technology-enabled, digital world. “As these hyper-growth companies surpass the $20 million threshold in revenue, they begin evaluating more mature ERP solutions like NetSuite –A system that is flexible and easily integrates with in-house systems, cloud architectures, and third party solutions,” begins Eric Park, Chief Growth Officer at ABACI. Across the business arena, this trend has been carried forward in one form or the other, in turn, empowering organizations to address market and consumer demands effectively while adhering to compliance requirements and eliminating regulatory risks. ABACI has been at the forefront of this trend—standing tall as a premier NetSuite Solution Provider—by aiding high-growth businesses to create a perfect synergy between their digitization projects and operations.

With a deep understanding of both the business and technological realms, ABACI’s expertise in utilizing NetSuite as a core platform for ERP helps clients optimize their workflows, powered by modern-day technological innovations. “Our system implementation approach is holistic; we view business process improvements and finance transformation and apply that into NetSuite solutions that are flexible for growing businesses. Companies need more than a system implementer – They want a process-oriented thought leader,” explains Eric.

From an emerging business standpoint, a noteworthy advantage of using NetSuite is its ability to process and analyze untapped data, all the while fostering integration with other data management systems such as Adaptive Insights or Salesforce.com. NetSuite can enhance the scalability of a business and enable it to support millions of transactions that span across CRM, accounting and finance, and asset management, along with numerous add-ons to handle functions such as taxes.


NetSuite can enhance the scalability of a business and enable it to support millions of transactions that span across CRM, accounting and finance, and asset management


Such an approach equips ABACI’s clients with a complete system infrastructure that places guardrails around their business, thereby enabling them to review earnings and recognize revenue consistently and efficiently. “We maintain close relationships with our client’s finance and accounting departments to review their revenue recognition and compliance requirements; We then use those insights to optimize their operations and facilitate growth,” comments Eric.

As a leader in the NetSuite solution space for SMBs, startups, and blue-chip technology companies, ABACI’s prowess in service delivery can be witnessed from its growing list of noteworthy clients and high-profile engagements. The company has successfully worked with and implemented NetSuite for well-known brands in digital health, eCommerce, and edtech, as well as facilitated large mergers involving public companies.

Over the last few years, ABACI has gained recognition as a formidable technology consulting services partner for many of its clients crossing over from the old ASC 605 revenue recognition standards to the latest ASC 606 regulatory norms. Developed jointly by the Financial Accounting Standards Board and International Standards Board, ASC 606 is the new benchmark for enterprises to recognize revenue more consistently. The main objective of the regulation is to maintain standardization across companies while managing accounting transactions such as customer billing and vendor payments.

Parallel to aiding their clients to scale great heights, ABACI is currently focused on the growth of its current employee and management team structures to bring in higher service delivery options for clients. Specifically, their growing Adaptive Insights practice is a natural segway into providing even more benefits to their new and existing client base. Collectively, ABACI continues to make an impact on growth-oriented startups and private equity groups by increasing its involvement and investments in the sector.

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Top 10 Accounting Solution Companies - 2020

ABACI

Company
ABACI

Management
Eric Park, Chief Growth Officer

Description
A premier NetSuite provider with in-depth knowledge and proven experience in both business processes and technology infrastructures for active NetSuite systems integrations. From an enterprise growth standpoint, a noteworthy advantage of using NetSuite is its limitless ability to process and analyze untapped data, all the while fostering integration with other data management systems such as Adaptive Insights or Salesforce.com