Flexport Scales and Gains Agility as it Transforms Global Freight Forwarding

With a mission to “fix the user experience in global trade”, Flexport is transforming the $1 trillion global industry by delivering consumer-like ease of use and visibility through a web-based platform for companies shipping cargo around the world. Its modern approach has fueled rapid growth since its late 2013 launch—outstripping the capabilities of its existing QuickBooks and Bill.com software.

Company

Flexport

Location

San Francisco, Calif.

Industry

Shipping/Logistics

EMPLOYEES

350

NUMBER OF USERS

NUMBER OF SUBSIDIARIES

NUMBER OF COUNTRIES

Systems replaced

QuickBooks, Bill.com

NETSUITE PRODUCT IMPLEMENTED

NetSuite OneWorld

IMPLEMENTATION PARTNERS

NetSuite Professional Services
Connor Group

Location

Santa Clara, Calif.

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“With the increased complexity of new offices and territories, NetSuite gives us scalability for growth and real-time insights across our global subsidiaries.” Philip Hall, Director of Finance, Flexport

NetSuite OneWorld Powers Fast-Growing Innovator

Visibility across global subsidiaries: Flexport has new financial visibility and control across seven subsidiaries in the U.S., China and the Netherlands with NetSuite OneWorld. Data that required separate lookups in five QuickBooks instances is now seamlessly consolidated in NetSuite. Flexport has new data-driven insights with easily customized reports for cash flow and other processes.

Seamless multi-currency transactions: Bill.com couldn’t handle multiple currencies, but NetSuite can. Flexport is transacting in nine currencies, reducing from two or three days to five minutes the time needed to reconcile between payments and invoices. Accounts Payable is saving 10 hours a week with NetSuite, a 40 percent efficiency gain, while handling rising transaction volumes that would have required four additional employees.

Streamlined agility for rapid growth: Flexport has further streamlined its business by integrating NetSuite with its bank and its proprietary web platform, which tracks cargo. NetSuite’s reliability, agility and scale position Flexport to continue customer-centric transformation in freight forwarding, traditionally an opaque industry relying on paper forms and emails.

Resources

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