Scottish company celebrates successful 10-year Oracle NetSuite partnership
Scottish cloud software firm Eureka Solutions is celebrating its first 10 years as an Oracle NetSuite partner, during which time it has become the biggest NetSuite partner in Scotland and one
of the vendor’s top performing partners in Europe, with £5.25 million in annual revenues and 74 employees.
The East Kilbride firm founded in 2004 took the decision to add the global business management suite to its offering in 1992 when it was already firmly established as a top reseller and developer of Sage software – and its bet on the cloud has been paying dividends ever since, fuelling a 250% increase in revenues and the creation of dozens of new jobs.
CEO David Lindores describes this anniversary as ‘a huge milestone’ for everyone at Eureka Solutions, including those who delivered the original partnership and are still at the company.
“We took a clear decision at a time when many business leaders were unsure about the cloud. Most were very nervous about the possibility of putting finance and accountancy systems on it. However, our team was absolutely convinced this was the future, and thanks to that foresight we got an incredible headstart which has benefitted our business in many ways.”
Built for the cloud from the ground up, NetSuite integrates all the important areas and processes of a business so that teams can get instant access to crucial data within one system, easily accessible from anywhere with an internet connection.
Today, NetSuite is used globally by over 32,000 businesses. Eureka Solutions itself averages 10 new customers a year and to date it has delivered the solution to almost 100 UK businesses from video game developer nDreams and bar-meets-table- tennis pub chain Bounce to hot tub manufacturer Jacuzzi and Scotland airline Loganair.
Alan Miles, NetSuite Sales Director at Eureka Solutions, says that the partnership team faced a steep learning curve at the outset.
“As a system, it had much more functionality to learn than anything
we had worked with before. While we could immediately see the flexibility and potential of how it could be configured in so many brilliant ways, it was new territory and after a period of intense training and experiential learning we realised just how beneficial the system was going to be for our customers.”
Within just three weeks Eureka Solutions had attracted its first potential customer, and within months it had successfully completed its first implementation – for a business that is still a customer today.
“The NetSuite partnership was a huge investment and there was a period when we feared it might not pay off. However, after everything clicked into place it has delivered an amazing return on investment. It has increased our recurring revenues dramatically. It has also enabled us to work successfully with fast-growth firms, from companies at ‘venture’ stage to larger businesses than we were
Miles attributes the company’s success to a cohort of experienced employees who have been with the NetSuite team from the outset.
“Most of the team that went through that steep learning curve at the beginning are still here. Three senior consultants have been with us for 10 years and others, like me, have been with the company for 15 years or more. We’ve kept that experience and it is a huge advantage.”
As well as specialising in NetSuite, Eureka Solutions continues to deliver, develop and support accountancy software Sage 200 and has also launched Besyncly integration software that links different business systems so that they speak to each other (see below).