Payment processor powers growth through ERP

Lemonway Expands Its Payment Processing Business Across Europe With NetSuite OneWorld

Since it was founded in Paris in 2007, providing payment processing for businesses across Europe, Lemonway has seen significant growth, joining an expanding array of successful European fintech companies. So far, more than 1,400 European marketplaces, including 200 crowdfunding platforms, trusted Lemonway for payment processing, wallet management and third-party payment services. It serves B2B, B2C and C2C marketplaces, as well as crowdfunding platforms across Europe.

Company

Lemonway

Location

Paris, France

Industry

Fintech

EMPLOYEES

100-250

NUMBER OF SUBSIDIARIES

NUMBER OF COUNTRIES

SYSTEM REPLACED

Sage 1000

NETSUITE PRODUCT IMPLEMENTED

NetSuite OneWorld

IMPLEMENTATION PARTNER

Prerequis

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“We had to adapt to Sage when we were working with it. Now it’s the opposite. We can easily adapt NetSuite to what we want to do.” Antoine Courault, Head of Finance, Lemonway

Replacing Rigid Sage System With NetSuite

Simplifying payments fuels growth: For European businesses seeking to simplify payment processing across borders while complying with European anti-money laundering and know your customer (KYC) requirements, Lemonway offers a quick and easy way to complete transactions for the buyer and to manage the process for sellers. It’s driven significant growth, reaching 150 employees in 2021 with 70% revenue growth over the previous year.

Growth creates accounting pains: While Lemonway was simplifying payment processing for its customers, its own internal Sage financial system was straining under the company’s growth. Navigating the system was cumbersome, the company couldn’t adapt the software to specific needs for financial planning and analysis, and handling Lemonway’s complex invoicing procedures was labor intensive.

OneWorld over SAP: Lemonway brought in a new head of finance to migrate to a new ERP system and selected NetSuite OneWorld over SAP Business ByDesign. NetSuite helped to immediately reduce the time it took to generate invoices from 10 days to five, while reducing errors and subsequent customer service issues. Where the previous Sage system was inflexible, users can now add a new field to a report in as little as 10 seconds in NetSuite.

Targeting dunning, planning and budgeting: With OneWorld, Lemonway can manage the business, including its international subsidiaries, with just one accountant. It plans to further reduce its invoicing process to three days and add NetSuite Planning and Budgeting, dunning and revenue management.