Case Study: NetSuite Rescue Engagement Enhanced Financial Reporting Data

The Situation:

Pulse PEMF (Pulse), a manufacturer of pulsing electromagnetic field machines to stimulate and heal body cells in humans and veterinary care, has been a long-time corporate audit and tax client of Aprio. In 2021, Pulse purchased NetSuite, a cloud-based accounting and enterprise resource planning (ERP) software, to streamline their financial reporting. As a fast-growing company, Pulse shared with their Aprio Audit and Tax Advisory team the accounting roadblocks they were facing within NetSuite and were unsure of what steps to take next.

The Challenge:

Despite purchasing a support package from NetSuite, Pulse continued to experience issues with inaccurate financial data and previous repairs caused more problems, especially from an accounting perspective. Since Aprio’s Audit and Tax Advisory teams had an intimate understanding of Pulse’s business for many years, Aprio was able to properly advise Pulse on how to move forward with the improvements they needed.

The Solution:

Aprio’s Audit and Tax Advisory teams presented Pulse with Aprio’s Business Applications “Rescue Engagement” solution after assessing their challenges. This solution involved repairing every issue on Pulse’s list which included:

• Improving the built-in components for their cost of goods and bill of materials to increase efficiency and align with Pulse’s business operations.
• Providing concise and accurate real-time financial reporting with easy-to-understand visuals, including revenue updates and invoice payment statuses.
• Updating the income statement to match Pulse’s operational perspective.
• Creating customized dashboards tailored to each leadership team member’s specific role.

This comprehensive approach helped Pulse streamline their business processes and achieve their goals more effectively.

The Outcome: 

What began as a one-time “Rescue Engagement” turned into a valuable reoccurring partnership with Aprio that continues to have a significant impact on Pulse’s daily operations.

While some issues were minor, each fix made a significant difference in how Pulse conducted their business. The most significant victory for Pulse was the restructuring of their bill of materials. Prior to Aprio’s involvement, Pulse’s system had convoluted data that caused incorrect pricing and inaccurate inventory valuation. With Aprio’s help, Pulse was able to achieve accurate financial statements and reporting aligned with their business goals.

This restructuring has been a game-changer for Pulse and their controller. They can now make informed decisions based on accurate financial data, which has allowed them to grow their business. The value of this partnership is immeasurable, as it has helped Pulse overcome significant obstacles and allowed them to focus on their core business while Aprio’s team managed the technical aspects.

The success of this partnership serves as a testament to the expertise and dedication of Aprio’s Business Applications team. Their ability to identify and resolve complex problems has not only helped Pulse but also has set them up for a bright future.

Contact us to learn how Aprio’s Business Applications Consulting Services can you help you optimize your business technology to achieve your goals.

Jaime MacFall

Business Applications Leader,
Advisory Director, Aprio
jaime.macfall@aprio.com

Jeff Rupert

Business Applications,
Director, Aprio
jeff.rupert@aprio.com

Eric Neas

Partner, Assurance Services, Aprio
eric.neas@aprio.com