Project Description

Wire prepares for future growth with NetSuite

Wire is a communications company that was founded in 2012 with the vision to build the world’s leading secure collaboration platform. The platform was launched in 2014 and can to this date count over 1,800 government and enterprise customers around the world. The company is headquartered in Berlin, Germany, but also has offices in Zug, Switzerland, and San Francisco, US.

Wire offers a communications and collaboration platform with secure messaging, audio and video conferencing, file-sharing, and external collaboration for Wire’s own cloud, private clouds, and on-premises servers. Users can collaborate with their team, clients, and partners on the platform from anywhere in the world. All the features are protected by the strongest end-to-end encryption to ensure data security and privacy.

Take a closer look at Wire:

NetSuite had the right features to support Wire's growth

Wire has grown substantially since launching the Wire platform and was looking for a unified system to handle future financial reporting in a more streamlined way and to be prepared for future growth. After closing a $21m funding round in Series B, Bernhard Kopp, the newly appointed CFO at Wire, started to improve the company’s financial organization to support Wire’s further growth. The most important element was to launch the implementation of the company's own financial ERP system, designed for its successful SaaS business, and to improve all financial processes, e.g. accounts payable, payments and approvals.

Wire had previous experience with NetSuite through a former service supplier. After an evaluation process, Wire decided to install the system again. The main reasons were that their team was already familiar with the system and that it provided all the features that Wire was looking for. A requirement was that there would be an easy way to roll out the same system for all the seven companies within the Wire Group using four different currencies.

Wire decided to implement NetSuite for the whole group, including financial consolidation and advanced revenue management for an improved management of their recurring revenue. Wire also had the requirement of migrating transactional data from 2021 to the new system.

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A close collaboration between project teams

The implementation began in the summer of 2021 with the goal of being live with financials for the whole group in January 2022. Throughout the implementation process, the implementation team at Wire has been very involved in the whole project and has been working closely with the Project Manager and the whole implementation team on Staria’s side.

“One major success factor in this project has been the involvement of Wire’s CFO Bernhard Kopp as project manager on Wire’s side, as it has enabled quick communication and fast decisions”, says Jimmy Löfström, Staria’s International Growth Director.

“It was a pleasure to work with the experienced team from Staria to implement our financial system in line with time and budget. I also want to thank Pierrine Auberson, who had the lead on Wire’s side and Yen Pham, for the great success and restless commitment to this project!”, says Bernhard Kopp, CFO at Wire.

Founded
2012

Industry
Communications and cyber security

Service solutions
NetSuite business platform

Web page
https://www.wire.com/

Bernhard Kopp, CFO, Wire

Pierrine Auberson, Senior Finance and Operations Manager, Wire

Yen Pham, Senior Financial Analyst, Wire

Choosing Staria

Wire decided to implement NetSuite with Staria as the partner since Staria's team had already completed successful implementations in other portfolio companies of Wire’s shareholders. Further, Staria's international approach was a perfect match for Wire’s group structure in Europe and the US.

The implementation stayed on track throughout the process, with Wire going live with NetSuite in January 2022.

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Jimmy Lofstrom


Jimmy Löfström

International Growth Director

jimmy.lofstrom@staria.com
+46 73 376 5545

Jimmy Lofstrom

Jimmy Löfström
International Growth Director
jimmy.lofstrom@staria.com
+46 73 376 5545