Stoddart Group Case Study

Stoddart Group successful NetSuite Planning & Budgeting implementation

Stoddart Group increases accuracy with (NSPB) NetSuite Planning and Budgeting implementation

Founded in 1959, Stoddart Group is Australia’s leading supplier and installer of materials for the residential building industry. For more than 60 years, Stoddart Group has pushed the industry’s boundaries supplying and installing steel roofing, fascia, gutter, downpipes, garage doors, lightweight cladding, steel house framing and linings. With approximately 600 employees and 31 branches supplying over 70% of the top 20 builders in Australia, Stoddart Group has experienced rapid growth in recent years.

THE CHALLENGES & OUTCOMES

(NSPB) NetSuite Planning & Budgeting Implementation helps Stoddart Group overcome business-wide budgeting challenges

Stoddart Group struggled with the budgeting process due to multiple spreadsheets comprising of the master budget and each business unit. These were complex to modify, maintain and extend. NSPB introduced dynamic budgeting, eliminating spreadsheet dependency. Forecast accuracy and efficiency significantly improved, streamlining financial planning. This shift allowed for better resource allocation and quicker adjustments to changing market conditions. The improved budgeting process led to more informed decision-making and enhanced financial stability.

Stoddart Group Head Office

Moving beyond spreadsheet dependency

Stoddart Group relied heavily on spreadsheets for budgeting, forecasting, and financial planning. While spreadsheets offered flexibility, they also introduced significant challenges, such as data inconsistencies, manual errors, and difficulty in consolidating information across various business units. As a service-based business Stoddart Group needed a layer of capability to conduct budgeting, forecasting and financial modelling of various scenarios. Transitioning to NSPB allowed Stoddart Group to eliminate these issues, providing a reliable and faster approach to revenue and COGS planning, workforce planning, OpEx and CapEx planning.

Enhanced collaboration across teams

NSPB has significantly boosted collaboration among Stoddart Group’s teams in one unified platform. NSPB’s integrated tools enable managers and team members to share notes, updates, and insights in real time, ensuring everyone stays aligned. This increased transparency has increased communication and coordination across the different business units, leading to more cohesive and effective financial planning. By working together seamlessly, teams can quickly address issues, make informed decisions, and drive the company’s strategic goals forward.

Stoddart Group Warehouse

Read about a successful NetSuite Planning & Budgeting implementation (NSPB)

Case Study - Stoddart Group cover image

NetSuite Planning & Budgeting implementation gives you confidence to plan, budget and forecast