Beam Mobililty’s Key to Rapid Growth

Beam Mobility Streamlines Its Financial Processes to Support Rapid Expansion

Founded in 2018, Singapore-headquartered Beam Mobility provides fun, practical and safe e-scooters to busy urban cities. As the startup rapidly expanded its footprint to Malaysia, Australia, New Zealand, South Korea and Taiwan, it realised that its manual financial processes and poor data visibility prevented it from making insight-driven decisions to propel business growth.

COMPANY

Beam Mobility

LOCATIONS

Singapore

INDUSTRY

Transportation

EMPLOYEES

40-60 across all offices

REVENUE

US$1-2 million

NUMBER OF SUBSIDIARIES

NUMBER OF COUNTRIES

SYSTEM REPLACED

Microsoft Excel

NETSUITE PRODUCT IMPLEMENTED

NetSuite OneWorld

IMPLEMENTATION PARTNER

AFON

LOCATION

Singapore

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“NetSuite is key to our growth as it streamlines financial processes, simplifies multi-subsidiary reporting, and provides real-time data visibility at subsidiary and corporate levels.” Benjamin Roberts, Finance Manager, Beam Mobility

Sustaining Success with Efficiency

Driven by data: Aiming to make cities flow, Beam Mobility partnered with local authorities and other businesses to roll out its e-scooter sharing services in six markets across Asia Pacific. It used data to localise its product offerings in the belief that meeting local needs is key to sustaining success.

Manual processes risk stalling growth: As Beam Mobility grew, it became challenging to accurately update Excel spreadsheets manually to manage its financial processes. Having multiple versions of spreadsheets also kept the company from having a single source of truth for data-driven decision making.

Gaining visibility and flexibility: Beam Mobility, with the help of its partner AFON, deployed NetSuite OneWorld to streamline financial processes, gain real-time visibility of its financials across seven offices and flexibly customise reports. This helped shorten the bank reconciliation process by two days and month-end closing process by five days.

Charging ahead confidently: NetSuite provides Beam Mobility with the confidence to grow its business efficiently. The cloud-based solution can be quickly deployed to new offices and enables Beam Mobility to deal with the complexities of currency and taxation differences at the local level and with regional financial statements consolidation.