TerraRoc became an independent company in 2019 as the result of Epiroc’s recent divestment of its geotechnical drilling consumables business. TerraRoc is now the market leader in geotechnical drilling consumables, with a global operation.
TerraRoc has three manufacturing facilities located in Finland (Tampere), Scotland (Grangemouth) and the United States (Roanoke, Virginia), and a high coverage, global supply chain. The company specializes in casing advancement systems, down-the-hole hammers and core drilling, and aims to provide the best possible precision, efficacy, and safety for its customers. Products and services are customized to fit the customer’s needs.
Faster and better customer care with NetSuite
When entering the market as a newly formed company, TerraRoc had a timeline for setting up new systems across the company. In the evaluation of which ERP system to implement, the speed with which the company could go live with the new system was important. However, they also considered the system’s future potential in increasing the automation and predictability for faster and better customer care and delivery speed. TerraRoc made the decision to implement NetSuite.
They selected NetSuite for several key characteristics, including efficiency of the quote to order process and inter-group transactions and the excellent visibility of financial reporting both at entity and consolidated level.
Successful ERP implementation
The project was a phased project where TerraRoc went live in only 5 months and then followed up with the automation of production and order management and E-commerce.
“The implementation of NetSuite with the support of Staria’s expertise produced a configuration which was optimally aligned with TerraRoc’s business processes with a transactional interface that in turn was closely aligned with the needs of TerraRoc’s customers”, says Mario Andrade, CEO at TerraRoc.
“We really appreciated the commitment of the Staria project team to work through the challenges of the Covid pandemic to deliver on the planned go-live date and within the agreed budget”, says Stuart Sinclair, CFO at TerraRoc.
“The project has been successful due to many factors. NetSuite functionalities and great consultants from us at Staria is for sure a big part of it, but I think the cooperation and full commitment and dedication from TerraRoc’s project team members and the close engagement from the board, CEO and CFO of TerraRoc made this complex implementation the success it is!” says Jimmy Löfström, International Growth Director at Staria.
Structured management of accounting matters
In addition to NetSuite, TerraRoc chose Staria’s global accounting services to support their international growth. At the start of the co-operation Staria is handling accounting in Finland, Sweden and France.
“The Staria team has been very effective in taking responsibility for the accounting needs of TerraRoc. The team has been good at working with timetables (payroll, vendor payments, VAT reporting, general commitments). I have been particularly impressed by the structured management of issues that have arisen. We value the back-up support from Staria’s specialists in relation to tax and other local technical matters. The specialists have also made suggestions to improve processes in several areas”, says Sinclair.
Andrade and Sinclair conclude: “We found NetSuite to be intuitive and very accessible to new users who were able to achieve strong levels of competence in a short time. NetSuite exceeded our expectations in the accessibility of reporting and report customization. Our users were excited with what could be achieved even with a small amount of training.”