Purple needed a quick and effective solution

Purple planned on transitioning to ASC 842 compliance in 2020, when their extraordinary growth rate required them to adopt the standards earlier than expected in November of 2019.

NetLease for NetSuite was the perfect solution. As a native SuiteApp embedded in NetSuite, Purple’s core accounting system, NetLease allowed Purple to adopt the ASC 842 standards almost overnight. After experiencing how easy NetLease was to set up and use, NetAsset was the obvious solution when they were searching for an answer to their challenges with asset accounting.

Client story

Industry

Manufacturing, Retail, eCommerce

Location

Lehi, UT

Products

NetLease, NetAsset

# OF LEASES

> 75

The software is really intuitive. It’s easy to implement and use. Just getting out of Excel and having accurate schedules already in your accounting software in NetSuite was a huge benefit.

Purple

Focus on the mission

Purple has engineered extreme comfort into their unique mattresses. With NetLease by Netgain being built into NetSuite, the quick and easy implementation of Netgain helped the company get back to what it does best – creating better-than-best sleep solutions that help every body feel and live better.

Benefits of embedded

“We considered other vendors. The main reason for choosing NetLease was because it was directly integrated into NetSuite. You push a button and journal entries are directly generated in our books, so there’s no need for an additional interface or uploading additional files. That’s really saving a lot of time and preventing errors.”

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A new level of detail

“We were almost incentivized to keep things overly simplified and not track a bunch of detail in Excel. Now, for leasehold improvements, instead of one massive line for a payment to a general contractor, we can break it down by division. We’ll have better information to compare new shop costs across locations”

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No stumbling blocks

“Usually on any systems implementation there are three things that stop the project. So, I always have to find the three showstoppers. With NetLease I couldn’t find the three.”

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Dependable, simple solution

A nonprofit organization like Goodwill must make the most of its administrative resources so it can dedicate them to their mission. This tangle of spreadsheets wasn’t going to work long-term, but neither was a cumbersome, expensive software solution. “I was searching for a system that would work at the touch of a button and that’s exactly what I got with NetLease.”

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