B2B Payments

Credit Union Chooses NetSuite To Improve Financial Systems

Quorum Federal Credit Union announced this week that it chose NetSuite to manage its financials, help support its rapid growth and power its business transformation.

According to a company press release, Quorum wants to replace its multiple, siloed software applications and multitude of spreadsheets with NetSuite OneWorld. The move will help Quorum better run its core financial management operations including general ledger, purchasing, accounts payable, fixed assets, multi-company financial consolidation, budgeting, forecasting and electronic payments.

“Quorum is transforming our business to better serve our members across the nation, and NetSuite is an important component to this transformation. NetSuite is built to grow as we do, and empowers our business in new and exciting ways,” Diane Silfstein, VP of Accounting and Operations at Quorum, said in a statement. “We were looking for a solution that not only would replace our existing systems, but offered additional functionality so that finance could be a more effective partner to the business. NetSuite provided all of that and saved us money by sparing us from the need to maintain software and servers.”

Just earlier this week NetSuite announced that it had acquired eCommerce solutions provider Venda, which is expected to build on the global momentum of NetSuite SuiteCommerce.

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Staying home 24/7 has consumers turning to subscription services for both entertainment and their day-to-day needs. While that’s a great opportunity for providers, it also presents a challenge — 27.4 million consumers are looking to cancel their subscriptions because of friction and cost concerns. In the latest Subscription Commerce Conversion Index, PYMNTS reveals the five key features that can help companies keep subscribers loyal despite today’s challenging economic times.

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