A bold return to Xero when NetSuite fell short

Your weekly go-to guide to transform your finance function into a strategic powerhouse.

Welcome CFO Techstack Community ??,

Last week, Harriet Hope, VP of Finance at Arbolus, shared her journey from starting her career at PwC with complex ERP systems, to mastering Xero at RORA, and now expertly leveraging the Xero ecosystem to scale a fast-growing business.

This week, Cathy Collins, Finance Director at Pure Escapes, offers another perspective on the topic. When Cathy joined Pure Escapes, the company was transitioning to NetSuite. Promises of automation and productivity fell short during implementation, revealing limitations that hadn’t been disclosed.

Despite significant effort, the system failed to meet their needs. Cathy shares how her team made the bold move back to Xero and what they learned in the process.

FEATURED ARTICLE

From NetSuite to Xero

Insights for finance leaders considering a system change

When I joined Pure Escapes as Finance Director, the company was in the process of transitioning to NetSuite. We had a custom-built in-house reservation system, that we wanted to integrate with our accounting system. After talking to several NetSuite implementation partners, we were sold on the idea that it would automate our processes, integrate to our in-house system and boost productivity in our finance team. Unfortunately, the reality didn’t align with the promise.

During the implementation, there seemed to be quite a few limitations of NetSuite that were not anticipated or discussed during the sales process. After investing so much time in the setup, we had to face the fact that the system wasn’t delivering what we needed.

That’s when we decided to move back to Xero, and due to the work put into creating the opening balance reconciliations for the NetSuite implementation, the process was far smoother than I expected. We’d only been using NetSuite for about six months, so uploading all our bank statements and reconciling them in Xero was surprisingly easy. What took three to six months with NetSuite, we managed to do in Xero in just one month.

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Hesitation at first

I won’t lie—I was hesitant at first. My finance team had spent a lot of time learning how to use NetSuite, and the thought of starting over was daunting for all of us. But after some serious conversations with senior management, we couldn’t justify the ongoing cost of NetSuite, especially considering the results we were getting.

Yes, Xero had its limitations when we first made the switch to NetSuite, but by the time we were looking to go back, things had changed. The Xero app ecosystem had grown a lot, and after digging into reviews and researching the available apps, I realised there were affordable solutions to all the challenges we’d faced before.

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The deciding factors

We encountered several challenges with NetSuite that ultimately pushed us to choose Xero as a better fit for our evolving needs. Simple tasks like bank reconciliations took much longer than they did in Xero, and we also had currency restrictions across our different companies unless we were willing to pay significantly higher licence fees.

The accounts payable process was another sore spot. NetSuite just didn’t have the automation we needed—it couldn’t handle emailing invoices for easy processing. Reporting was another headache. It was overly complex and required more investment just to integrate with Excel. And on top of all that, getting access to NetSuite’s app ecosystem came at a much higher cost, which felt frustrating given that we were already paying enterprise-level prices.

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Why we chose Xero + its ecosystem?

Once I dove into how much the Xero app ecosystem had developed, it became clear that moving back was the right decision. I’ve been using Xero in various roles for over 15 years, and the number of apps available to solve finance challenges has grown massively.

For us, apps like Mayday have been a lifesaver for intercompany reconciliations and recharges, especially since we have six companies in our group. We’ve also found great tools for accounts payable automation—there are so many options now. And when it comes to reporting, we use Flex Financial Reporting and G-Accon, which let us easily integrate Xero with Excel and Google Sheets. These tools have made a world of difference for us.

The team was relieved to be back on Xero for bank reconciliations. With over 40 bank accounts across multiple currencies, what used to be a complex task is now straightforward and efficient with Xero. And with six companies in our group, Mayday has saved us a ton of time by automating our intercompany loan reconciliations and recharges, which used to involve complicated Excel spreadsheets and lots of manual effort.

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My advice for finance leaders

If you’re a finance leader thinking about moving back to Xero from a larger ERP like NetSuite, my advice would be to really explore the Xero app ecosystem first. The challenges you think require an ERP can often be solved with a much more affordable solution within Xero’s app store.

And if you’re a finance leader thinking about moving from Xero to a big ERP, be mindful of the true cost of implementation. It’s not just the time and money spent on the implementation itself, but also the additional apps you’ll likely need, which come with their own price tags. Plus, if you don’t pick the right implementation partner, the process can drag out longer than expected, adding to the frustration.

COMMUNITY INSIGHTS

?? How I stacked?it

Chloe Sloane, Financial Manager at CreativeCFO, shares their tech stack

Creative CFO is a professional firm on a mission to build the world’s best finance teams. They are a technology and remote-first company, with a focus on financial excellence and automation. They have teams of great professionals, using and developing the best technology, to help businesses plan, structure, invest and grow.

Chloe told us, “At Creative CFO, every day is a dynamic blend of teamwork and innovation. My primary focus is supporting my incredible team, which includes both qualified accountants and associates working toward their CIMA qualifications.

Together, we strive to manage the finance function for our clients, enabling them to focus on growing their businesses. A significant part of my day involves meeting with multiple clients to address pressing matters and provide strategic guidance. Our mission is to deliver financial clarity, helping our clients navigate complex decisions with confidence.

Our tech stack plays a pivotal role in making this possible. Leveraging cutting-edge tools, we ensure seamless collaboration and real-time insights. This empowers us to deliver value with efficiency and precision, aligning perfectly with our remote-first ethos and commitment to excellence.”

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Here’s what Chloe and her team are using:

1. Xero for the financial foundation: Xero is a user-friendly, cloud-based accounting platform that simplifies financial management. It offers real time reporting, automatic bank feeds, and a large integrated app directory, enhancing productivity and decision-making. Its collaborative features enable multiple users to access financial data simultaneously, improving communication and insights for high growth businesses.
2. Dext Prepare for Receipt and Invoice Management: Dext Prepare automates the capture of receipts, invoices, and bank statements. Integrated with Xero, it reduces manual data entry, allowing the team to focus on higher-value tasks.
3. SimplePay for Payroll: SimplePay's user-friendly interface automates payroll processes, reducing manual workload and ensuring compliance. Its accurate calculations enhance payroll efficiency, freeing up time for other strategic activities. Their API allows for the instant posting of payroll journals to Xero and to government institutions for reporting purposes.
4. Cin7 Core & Cin7 Omni for Inventory Management: Cin7 offers a seamless solution to track stock in real time. By syncing with Xero, it enables customers to optimise inventory levels and gain insights into their stock flow and management.
5. Fathom for Group Consolidation and Reporting: Fathom simplifies multi-entity reporting and analysis, enabling Creative CFO to seamlessly consolidate financials across multiple jurisdictions. The reports are customisable and provide clients with deep insights into financial performance, financial position, and financial and non-financial KPIs.
6. G-Accon and Google Sheets for automation: G-Accon provides seamless integration with Google Sheets for real-time insights into accounting information and data without having to log into Xero. Advanced data analysis and reporting from multiple entities allow us to leverage real-time data insights effectively.
7. Make.com for Data Workflows: Make.com is a versatile automation platform that connects apps and streamlines workflows with ease. Its intuitive interface allows us to create custom automation without coding, saving time and enhancing productivity.
8. Mayday for Intercompany Transactions and Balances: Mayday enhances Xero by simplifying intercompany transactions and balances, streamlining reconciliations across entities, and speeding up month-end closures. It boosts financial efficiency and accuracy, allowing our team to focus on strategic analysis with less time spent on manual tasks.
9. WooCommerce and Shopify for E-commerce: For customers with online stores, WooCommerce and Shopify allow for easy integration with Xero. These platforms sync sales and inventory data, ensuring accurate reporting and streamlining e-commerce operations.
10. Asana for Task Management: Asana organises Creative CFO’s projects, helping the team track progress and meet deadlines efficiently. Its visibility across tasks and projects ensures timely completion of client deliverables. We know exactly who is doing what and by when.

THE STACK EXCHANGE

?? This week's top threads, from The Stack Exchange

The Stack Exchange is a Slack forum for connecting with peers, sharing insights, and staying updated on apps and industry events—helping you transform your finance function into a strategic powerhouse.

Here are this week's top 3 discussions from The Stack Exchange:

1. Joiin v Fathom v Others - Top consolidation tools
2. Incorporating non-Xero entities into monthly reporting packs
3. Best apps for managing prepayments on Xero

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Keen to join? Sign up here >

CLEDARA'S 2025 SOFTWARE SPEND REPORT

?? Future Software Spend: Strategic Increases on the Horizon

Over the next year, most companies (58%) plan to increase their software budgets, showing a strong commitment to using digital tools for growth and efficiency. And while nearly half predict moderate increases, a notable portion anticipates significant boosts, proving confidence in the role of technology in business success.

This trend shows the value of focusing on strategic investments that align with the company’s goals. It’s not just about growing budgets but making sure that every dollar counts.

The Cledara 2025 Software Spend Report delves into these projections, and more, offering valuable insights to help businesses make informed, growth-oriented software investment decisions.

Dive into the full report >

About Cledara: Cledara is a leading SaaS management platform designed to help companies manage and optimise their software subscriptions and expenses.

NEW IN THE WORLD OF CFO SOFTWARE

??? News from the stack-o-sphere

• Causal has upgraded the look, feel, and functionality of Editable Tables. Check out their latest updates.
• Cin7 Capital offers quick and affordable business financing options from inside Cin7 Core. See this month's updates.
• Employment Hero made it easier for you to customise your dashboard in-platform. Learn more.?

WHAT THE DATA SAYS

?? Stat of the week

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67% of finance leaders say there are tensions and disagreements within their leadership teams regarding the balance between short-term and long-term priorities.

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Research by EY.

UPCOMING EVENTS

??? Save the date

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Webinar: From Data to Decisions: Building the Foundation for AI Success in Finance

Wed 27 Nov, 4pm GMT

Explore how finance teams can lay the groundwork for AI adoption by first addressing their data challenges, including crucial areas like expense management. By refining these foundational processes, teams can position themselves for long-term success with AI.

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Webinar: Bad payers or bad processes? 7 strategies to prevent late invoice payments

Tue 10 Dec, 5pm AEDT / 10am GMT / 3pm EST

You have the power to drastically reduce late payments for your business by making a few simple process changes.?See seven proven strategies that are helping businesses to stop late payments in their tracks, reduce days sales outstanding, and improve cash flow.

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Webinar: ApprovalMax 2024: Year in Review

Tue 10 Dec, 11am AEDT / 11am GMT / 10am PST

In 2024, ApprovalMax released a whopping 49 updates and releases. In this webinar, they summarise the biggest updates and share what features will drop in 2025!

MORE OF THE GOOD STUFF

And lastly, our top picks!

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?? Podcast: The CFO Putting Strategy into Action with Multi-Award Winning Author Thomas D. Zweifel, ep. 168, GrowCFO Show

?? ?Article: Risk-Taking | The Emergence of the New CFO

?? ?Joke: Why don’t finance people play hide-and-seek? Because good luck hiding when they can account for everything!

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