Global competitive sailing league SailGP has revolutionised its business systems using Oracle Netsuite.
The high-tech racing league is on a mission to double its size within the next two years and needed a system to streamline global financial functions and help increase efficiencies to support its expansion plans.
To address this challenge, Sail GP reduced manual data entry, gained real-time visibility into operations, automated core business processes and enhanced decision-making using NetSuite.
Now in its third season, SailGP features nine national teams who compete in identical F50 foiling catamarans as part of a growing international event schedule. The company has multiple boat-building facilities and a commercial design and manufacturing division.
“SailGP has ambitious targets to bring the sport to new places and audiences, and data is critical to both the race crews and internal teams on that journey,” said Julie Boyd, director of finance, SailGP.
“With our targets come a need for tight control of finances, compliance, cash flow visibility and insight to advise the business where to navigate next.
“NetSuite enables us to report, plan and run multiple potential scenarios and this helps our finance team advise on strategy, areas of efficiency and cost saving.”
NetSuite has allowed SailGP to streamline its financial operations by addressing differing tax and reporting implications in the countries it operates in, improve financial forecasting, and gain a more accurate view of cash flow and assets while also automating supplier payments.
SailGP also uses Oracle Stream Analytics and Oracle Cloud Infrastructure to capture and transmit data from 30,000 data points to deliver real-time racing metrics that allow teams to build their optimal in-race strategy on the water, and amplify the viewing experience for fans.
Boyd has also liaised with the NetSuite Advanced Customer Support (ACS) team to customise their NetSuite system to meet the specific needs of SailGP.
Last year, the company announced the launch of its technology division, SailGP Technologies, with NetSuite as a partner to evolve design, manufacturing, engineering, software and system innovation from sea to space.
“If we do things right, over time, SailGP Technologies should be way bigger than the SailGP racing company — this will be the future,” said Boyd on NetSuite’s blog.
“We’re building parts for rockets that go to the moon right now. So we’re definitely expanding beyond building and racing sailboats.”
Image credit: iStock.com/pierivb