Pura cut their month-end close from 15 days to 7 days with Netgain
Pura cut their month-end close from 15 days to 7 days with Netgain
“When I first started, we were closing in about 15 business days. Now we're closing in seven, and we hope to get down to five or six by the end of 2025."
When Kelsey Laker began her role as Controller at Pura, she quickly realized the close process was open to a world of possibilities—of the wrong kind.
The cumbersome process the team was following left a lot of room for manual errors and last-minute changes to the balance sheet going unnoticed.
Luckily, the Pura accounting team was getting ready to implement NetClose, and once it was up and running, they saw a new possibility emerge: a tool powerful enough to increase accuracy, improve efficiency and productivity, and decrease their time to close.
Here’s how they did it.
A manual review process with room for error
Before implementing NetClose, Pura’s close process took place on multiple platforms, including a Monday.com board to track closing tasks, individual Excel lead sheets stored in a shared drive, and the general ledger (GL) in NetSuite.
This multi-platform approach created challenges for Kelsey and her team:
- A cumbersome review process: Kelsey had to manually match each lead sheet against the NetSuite balance sheet, which took a considerable amount of time.
- An inefficient approval workflow: After reviewing each lead sheet, Kelsey would type her name at the top to indicate she had reviewed it. But balances could change before the period was locked, so Kelsey would review them again before closing to ensure balances still matched—doubling the amount of time she spent on reviews.
- Extended close cycles: With this long, manual process, it would take Kelsey’s team 15 business days to finalize month-end financials.
- Higher risk of errors: The manual process left room for manual errors and the possibility of missing a change to a lead sheet before locking a period.
“I would love to say I was always perfect at reopening every lead sheet and double-checking, but I don't think anybody can be when there are a million things going on,” Kelsey shares.
Once Kelsey completed the NetClose implementation, the process quickly started to change.
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A centralized close process with full visibility
Kelsey worked with the Netgain implementation team to gradually onboard Pura’s close tasks onto NetClose, starting with task management, then reconciliations, and finally amortizations.
She immediately started to notice improvements in the process, including:
- NetClose replaced the Monday.com board with a structured, centralized system for tracking financial close tasks within NetSuite.
- Visibility into the entire close process allowed for better prioritization and enabled Kelsey to easily identify and resolve bottlenecks.
- The platform automated amortizations, eliminating hours of creating manual journal entries for prepaid assets.
- NetClose’s reconciliation view allowed Kelsey to check data from multiple perspectives and easily track changes on the balance sheet.
"With NetClose, it’s so much more streamlined,” Kelsey says. “I can see my team’s progress, track outstanding tasks, and get notified if balances change—something that was impossible before.”
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Simplified fixed asset management and lease accounting
The Pura accounting team also adopted NetAsset and NetLease, centralizing all their data for a faster close and simplified accounting processes.
- NetAsset automated depreciation schedules, reducing manual journal entries and giving the team confidence that assets would be depreciated correctly for the rest of their useful life.
- NetLease simplified lease accounting, enabling the team to process lease entries in minutes.
- Netgain centralized and automated reports for tax and audit preparation, eliminating manual data gathering.
"Running our lease entries literally takes two minutes, and NetAsset depreciation is just as fast. These tools have been game changers for our team,” Kelsey says.
Closing the books more accurately—in half the time
“When I first started, we were closing in about 15 business days,” Kelsey shares. "Now we're closing in seven, and we hope to get down to five or six by the end of 2025.”
Kelsey’s team was able to cut their close time in more than half thanks to the efficiencies they gained with Netgain:
✅ Eliminated manual reconciliations, improving data accuracy for financial reporting.
✅ Reduced the need for working overtime during month-end close.
✅ Improved audit and tax preparation by centralizing data and automating reporting.
✅ Achieved greater visibility into the process, allowing team members to prioritize tasks efficiently and resolve bottlenecks.
Netgain allowed the Pura accounting team to streamline the most stressful time of the month, cutting down their manual work and giving them more confidence in the results. They were able to reduce inefficiencies, automate repetitive tasks, and gain real-time visibility into the company’s financials.
"If you could put a dollar amount to the time savings, it would far exceed the actual cost of the product,” Kelsey concludes.
As Pura continues to scale, Netgain’s solutions will help them reach their goal to close even faster, with greater accuracy and less manual effort.
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