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July 12, 2019

GoCardless taps Oracle NetSuite to automate financial management

UK-based recurring payments fintech GoCardless has selected Oracle NetSuite to automate financial management as it expands its international operations.

The technology vendor claims that its scalable business platform will enable GoCardless to reduce the complexities of operating across multiple markets, currencies and tax laws.

The platform will also enable the company to manage and automate core business processes and gain a unified view into the business.

Oracle NetSuite added that its platform will better prepare GoCardless to address the complexity it may face while foraying into the new international markets and make decisions quickly.

GoCardless CFO Catherine Birkett said: “Since implementing NetSuite, we have gone from basic accounting to conducting in-depth financial analysis.

“We can now report financial close faster and more accurately, quickly and easily setup new subsidiaries, and efficiently meet our stakeholders’ reporting requirements.

“This is incredibly valuable as we continue to expand into new markets and the best part about NetSuite is we now have a solution that will scale with our growth path for years to come.”

Established in 2012, GoCardless’ global bank debit network substitutes the usage of credit and debit cards. It has also created a platform to take invoice, subscription, membership and instalment payments.

Currently, the company is said to manage $10bn in transactions annually with 40,000 customers around the world.

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