Tailored ERP Implementation: The First NetSuite Project in Monaco

About Koroyd

Koroyd, established in 2010, is a Monaco-based technology company specializing in protective materials for action sports and aerospace applications. The firm has grown rapidly with over 90 awards and 38 granted patents across 15 territories.

The Challenge

Koroyd’s expansion created operational friction. Their systems sprawled across disconnected tools: Monday for project management, QuickBooks for accounting, and Google Sheets for manual data entry. Critical gaps emerged:

Multi-system fragmentation: Financial, warehouse, and operational data lived in separate platforms with no unified view, hindering leadership decision-making.

Regulatory complexity: Monaco’s unique tax framework combined with French VAT requirements couldn’t be accommodated by QuickBooks. The team resorted to manually transcribing invoices into spreadsheets.

Inventory management gaps: Rapid order growth outpaced system capacity. Product specifications (length, density, angles) lacked centralized storage, risking data loss during sales-to-purchase-order workflows.

Financial reporting limitations: Multi-departmental budgeting across projects and product lines exceeded QuickBooks’ reporting capabilities.

The Solution

Big Bang implemented Oracle NetSuite with a SuiteSuccess Financial First configuration. Key interventions included:

System consolidation: Unified financial, warehouse, item, and vendor management into a single platform while maintaining Monday for internal project workflows.

Automation: Sales orders now flow directly to purchase orders, eliminating manual steps. VAT returns generate automatically in French, replacing duplicate entry processes.

Customization: Custom fields, modified workflows, and tailored features — such as print-on-demand sales order functionality — addressed manufacturing-specific needs.

Data migration: Big Bang expertly uploaded the complete item database with all specifications intact.

The Outcomes

Efficiency gains: Order and purchase management accelerated dramatically. A lean team leveraged hours more effectively.

Compliance automation: French-language VAT returns eliminated manual transcription errors and regulatory risk.

Scalable infrastructure: The platform now supports growth without operational bottlenecks, providing leaders with real-time financial visibility.

Laurent Vlietinck, Finance & Administration Manager, noted: “We can now quickly manage our sales and purchase orders.”

Lessons for ERP Adoption

Koroyd recommends documenting all processes on paper before implementation begins, then thinking thoroughly about configuration requirements to avoid mid-project scope changes.