ECOARK HOLDINGS
  • Headquartered in Arkansas with seven subsidiaries across U.S.
  • Maintains diverse holdings unified by sustainable business practices
  • Owns proprietary technologies that manufacture retail products using post-consumer plastics, cut solar energy costs, reduce food waste and minimize project costs in commercial construction
CHALLENGES
  • Subsidiaries on four different applications of QuickBooks and Microsoft Dynamics GP
  • Needed consolidated financials with sound SOX controls
  • Required a compliant, transparent accounting system in order to go public
  • Executives wanted access to financials from all subsidiaries
  • Needed an ERP capable of handling manufacturing and multiple business entities in a single instance
SOLUTION
  • NetSuite OneWorld for multi-company needs, including manufacturing
  • Accounts that can be used across all businesses
  • Executives can access real time financials across the organization anywhere with cloud computing
  • Accounts that can be used across all businesses
OUTCOME
  • Reports that can be accessed quickly through the cloud
  • Greater visibility into the organization
  • Less time wasted on data entry and invoicing
  • One streamlined accounting process for entire organization
Download The Case Study

EcoArk and FMT Integrate People, Process & Data with NetSuite OneWorld

EcoArk Holdings, Inc., based in Rogers, Arkansas, ow n s a varied portfolio of companies ranging from manufacturing to professional services. EcoArk and its diverse holdings are governed by the principle of conscientious capitalism. By reducing waste in the form of inefficiencies, material goods, and capital, EcoArk not only reduces the burden on the ecosystem, but also creates revenue. As the company states on its website, “…the integration of people, processes, and data strives to overcome operational hurdles to enable businesses…to capitalize upon unrealized revenue potential.” –EcoArkusa.com

“FMT provided a very comprehensive, impressive project plan in the early stages.”

-Jay Oliphant, Corporate Controller, EcoArk Holdings

THE OPERATIONAL HURDLES

In January 2016, EcoArk was running independent instances of QuickBooks in several subsidiaries, along with Microsoft Dynamics GP in another. As Jay Oliphant, the new Corporate Controller for EcoArk explains, “I wasn’t comfortable with the controls and the different charts of accounts that we had in QuickBooks and Dynamics GP.

EcoArk was aiming to go public and needed a compliant, transparent accounting system. After reviewing several possible software options, EcoArk settled on NetSuite OneWorld. NetSuite OneWorld was the only cloud-based ERP system that would unify multiple businesses, including manufacturing, in a single instance with a clean user interface. NetSuite cloud computing would enable the EcoArk executives to obtain daily income statements from all of their subsidiaries from anywhere.

“We’ve been very happy with FMT. I’ve already recommended them many times as they helped us complete the project on time and within budget”

-Jay Oliphant, Corporate Controller, EcoArk Holdings

INTEGRATING DIVERSE OPERATIONS

FMT Consultants had successfully helped one of EcoArk’s subsidiaries, Intelleflex, with Dynamics GP. EcoArk chose FMT because of the past success and “FMT provided a very comprehensive, impressive project plan in the early stages.”

EcoArk’s seven subsidiaries have unique requirements and are spread out across the U.S. Added to this was a very aggressive timeline for the project (seven companies in four months). The challenge for FMT would be maintaining constant communication in order to finish on time.

FMT Consultants and EcoArk executives gathered team members from the parent company and each subsidiary in Phoenix in early March to kick off the project. After that initial meeting.

INTEGRATING DIVERSE DATA

FMT Consultants and EcoArk designed a common chart of accounts that could be used across the entire organization. This would satisfy the transparency and compliance requirements for the company to go public. With secure cloud computing, executives could login through an Internet browser to their homepage dashboard to view up-to-the-minute metrics .

FMT consultants paired with sub-teams to implement specific tasks for each company, such as: professional services automation, employee time entry, expense entry, manufacturing, inventory, transmitting purchase orders and invoices automatically and automating data entry tasks.

R EALIZ ED P O TEN TIAL

EcoArk models efficiency by staying current with its systems and processes. FMT deployed NetSuite OneWorld to streamline the accounting and manufacturing processes for EcoArk’s diverse subsidiaries, creating transparency within and without the organization as it went public. By unifying their people, process and data with NetSuite OneWorld and FMT, EcoArk will free up more time for its activities. As Oliphant says, “We’ve been very happy with FMT. I’ve already recommended them many times as they helped us complete the project on time and within budget.”

WHY FMT CONSULTANTS?

  • Client satisfaction focused with over 1,000 successful project implementations since 1995
  • A dedicated team of 50+ in-house IT experts located in Southern California
  • Experience in a wide array of industries including highly regulated sectors such as life sciences, healthcare and public administration
  • In-house customer care desk to provide ongoing support and user training
  • Extensive experience with system integration and custom development
  • Certified provider of Microsoft SharePoint, Office 365, Microsoft Dynamics GP and Microsoft ∙ Dynamics CRM

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