SailGP overhauls its financial processes to aid expansion plans

Global racing league SailGP has overhauled its financial operations, allowing them to manage financial processes in new countries.

The league’s new integrated business system allows it to manage broadcast opportunities, and revenue streams as it aims to double its size within two years.

Since its inception, with a growing international event schedule, multiple boat-building facilities, and commercial expansion of its design and manufacturing division, SailGP needed a system that would streamline global financial functions and help increase efficiencies to support its expansion plans.

To address this challenge and gain real-time visibility into its operations, automate core business processes, and enhance decision-making, SailGP selected NetSuite.

Julie Boyd, director of finance, SailGP said the league has “ambitious targets” to bring the sport to new places and audiences, and data is critical to both the race crews and internal teams on that journey.

She said, “With our targets come a need for tight control of finances, compliance, cash flow visibility, and insight to advise the business where to navigate next. NetSuite gives us that ability.

“NetSuite enables us to report, plan, and run multiple potential scenarios and this helps our finance team advise on strategy, areas of efficiency, and cost-saving.”

In addition, SailGP said NetSuite has enabled them to gain a more accurate view of its cash flow, automate its supplier payment processes, and accurately track the value of assets over time.

SailGP uses NetSuite to manage internal spending controls, seamlessly support new entities as the league visits new locations, and create reports for investors and stakeholders.

As SailGP continues to expand, the team plans to adopt NetSuite CRM and inventory management to manage the sale and production of technical innovations.

Founded by Oracle chairman and CTO Larry Ellison and champion sailor Sir Russell Coutts, SailGP is a high-tech racing league in its third season, featuring nine national teams competing in identical F50 foiling catamarans.