LOUISVILLE, Ky., Dec. 8, 2011 /PRNewswire/ -- Beacon Enterprise Solutions Group, Inc. (OTC BB: BEAC) (www.askbeacon.com), an emerging global leader in the design, implementation and management of high performance Information Technology Systems ("ITS") infrastructure solutions, today discusses the Company's transition to NetSuite OneWorld (www.netsuite.com) and positive results to the business.
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Beacon recently completed a 21-month transition to a cloud-based, comprehensive professional services automation (PSA) and financial accounting system to support its rapidly growing global business activities. Beacon now utilizes the NetSuite OneWorld product set to address the complex multi-national and multi-company requirements of a world-class global operation. With the addition of the financial package, Beacon's NetSuite deployment now integrates all key business processes, including Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Customer Support, and Human Resources. The NetSuite OneWorld's product offers multi-lingual and multi-currency capabilities which advances Beacon's ability to quickly scale its business with customers, partners, and suppliers anywhere in the world.
Beacon uses NetSuite OneWorld to operate multiple subsidiaries, manage multiple currencies and foreign exchange, and maintain local, regional and national tax schedules in hundreds of jurisdictions around the world. This enabled the Company to increase its customer location base in fiscal year 2011 by 96% to 212 locations in 51 countries up from 108 locations in 26 countries in fiscal year 2010. In addition, Customer Service Ticket volume, which is a measure of customer activity, increased by 31% to 1,588 in fiscal year 2011 up from 1,214 in fiscal year 2010.
NetSuite's 100% cloud-based architecture makes it accessible 24x7 to Beacon's global workforce via the Internet using all popular PC browsers and smartphones. It enables Beacon's centralized accounting team with real-time financial consolidation and drill-down capability for any organizational hierarchy and subsidiary. Other benefits of the system that have significantly improved the company's ability to compete globally are support for 17 languages, 190+ currencies, tax integration, and always-on audit and compliance features. The successful OneWorld implementation will also allow Beacon to leverage infrastructure already in place to achieve growth while limiting increases to fixed costs.
"Our NetSuite implementation has enabled Beacon to rapidly scale-up our global operations with considerably less time and financial investment typical of competing large on-site ERP installations," stated Jerry Bowman, President and COO of Beacon. "Our executive and management teams have the ability to view and manage workflow with real-time dashboards. It is mission critical for our management teams to have access to real time project and client data to make business decisions regarding resource allocation, financial performance and any other key metrics they might need. The implementation of this tool permits us to effectively access real time data from projects occurring simultaneously across the world in multiple languages, and address issues as they develop in real-time."
About Beacon Enterprise Solutions Group, Inc.
Beacon Enterprise Solutions Group is an emerging global leader in the design, implementation and management of high performance Information Technology Systems ("ITS") infrastructure solutions. Beacon offers fully integrated, turnkey IT infrastructure solutions capable of fully servicing the largest companies in the world as they increasingly outsource to reduce costs while optimizing critical IT design and infrastructure management. Beacon is headquartered in Louisville, Kentucky, with regional headquarters in Cincinnati, Ohio, Dublin, Ireland, Prague, Czech Republic and personnel located throughout the United States and Europe.
For additional information, please visit Beacon's corporate website: www.askbeacon.com
This press release may contain "forward-looking statements." Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements may include, without limitation, statements about our market opportunity, strategies, competition, expected activities and expenditures as we pursue our business plan. Although we believe that the expectations reflected in any forward looking statements are reasonable, we cannot predict the effect that market conditions, customer acceptance of products, regulatory issues, competitive factors, or other business circumstances and factors described in our filings with the Securities and Exchange Commission may have on our results. The company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.
Contact: Bruce Widener, CEO 502-657-3507
Porter, LeVay & Rose, Inc. Marlon Nurse, V.P. – Investor Relations 212-564-4700
Halliburton Investor Relations Geralyn DeBusk, President, or Hala Elsherbini, COO 972-458-8000 |
SOURCE Beacon Enterprise Solutions Group, Inc.
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