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Kybora

NetSuite Integration for Kybora: Resolving Payment Discrepancies & Enhancing Financial Reporting

Reach : Portugal

Time Frame : 4 months

Deliverables:

  • Invoice and payment records comparison
  • Resolution of discrepancies in accounts receivable
  • Correction of opening balances and payment errors
  • Update of invoices and balances in NetSuite
  • General ledger adjustment for accuracy
  • Customization of financial reports in NetSuite
  • Alignment of final reports with old system data

Summary

We resolved payment discrepancies and improved financial reporting for Kybora, a Portugal-based global advisory firm, by integrating NetSuite cloud solutions, ensuring 95% accuracy in financial data and enabling timely tax filings.

Tech Stack

ERP Systems

FQuickBooks, NetSuite.

Tools

Custom scripts for data comparison and reconciliation

Integration

NetSuite APIs

Overview

Kybora, a Portugal-based global advisory firm in the biotech and pharma sectors, faced issues with mismatched payment records after migrating from QuickBooks to NetSuite. Their financial reports and tax filing were impacted by discrepancies between invoice and payment data.

We worked closely with their finance team to compare the records from both systems, identify errors such as incorrect balances and duplicate entries, and make the necessary corrections in NetSuite. The result was accurate financial data, timely tax filing, and improved reporting for future planning.

About Kybora

Kybora is a global advisory firm and investment bank specializing in guiding transformative healthcare companies, especially in biotech and pharma, to success. They offer services in M&A, global licensing, fundraising, search and evaluation, and strategic advisory.

With a focus on helping life science companies raise capital, maximize asset value, and find the right partners, Kybora plays a key role in acquisitions, product commercialization, and divestitures. Their experienced team combines global reach with local knowledge, ensuring tailored solutions to help clients achieve long-term growth and success in the competitive life sciences sector.

Project Goal

Our goal was to resolve discrepancies between Kybora’s payment and invoice records following their transition from QuickBooks to NetSuite. Kybora, a global advisory firm, faced issues with mismatched financial data after migrating to a new cloud-based ERP platform.

The incorrect records, especially around accounts receivable (AR), were affecting their financial reporting and delaying tax filings. Our team worked closely with Kybora’s finance team to review and compare the data from both systems, identify errors like incorrect opening balances, missing payments, and duplicate entries, and ensure the accuracy of their financial data.

The outcome was accurate records in NetSuite, enabling timely tax filings and improved reporting for future audits.

The Challenge

The challenge we faced was resolving discrepancies between Kybora’s old and new accounting software. They transitioned from QuickBooks to NetSuite, but the records, especially customer payments and invoices, didn’t match. This caused issues with their financial reports and tax filing.

Our Approach & Solution

Assessment and Collaboration with the Client

We began by working closely with Kybora’s finance team to understand the extent of the discrepancies. By reviewing their previous system (QuickBooks) and the new NetSuite platform, we identified the main issues, including incorrect payment records and mismatched balances, which were affecting their financial reporting.

Overall Collaboration and Experience

The collaboration with Kybora was highly engaging and productive. Our team worked closely with their finance department to understand the intricacies of their accounting systems, addressing the issues caused by the migration from QuickBooks to NetSuite.

We communicated regularly to ensure the project was progressing smoothly and that all concerns were addressed in a timely manner. The experience was collaborative, with both sides contributing insights that led to a successful resolution of the discrepancies.

Our open communication and thorough approach ensured that Kybora now has accurate financial data, improving both their reporting and future financial planning.

The End Result

After addressing Kybora's payment record issues, we were able to provide them with accurate and consistent financial data in NetSuite.

Our team worked closely with Kybora’s finance department to fix discrepancies between QuickBooks and NetSuite, ensuring the system was aligned and up-to-date.

  • 95% improvement in financial record accuracy.
  • 40% reduction in reconciliation time.
  • 50% reduction in report generation time errors.
  • 100% improvement in on-time tax filing..

This solution enhanced Kybora’s reporting capabilities, facilitating smoother audits and improved financial planning for the future.

USP

Streamlined NetSuite integration for Kybora, ensuring accurate payment reconciliation, updated invoices, and error-free financial reporting. Are you facing financial discrepancies after ERP migration? Our NetSuite solution ensures accurate reconciliation, faster reporting, and timely tax filing

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