Case Study: Tower Engineering Professionals achieves automated WIP expense recognition with 360 Cloud Solutions

Tower Engineering Professionals - Customer Case Study

Tower Engineering Professionals (TEP), a multi-discipline engineering and construction firm, struggled with a tedious month-end process in NetSuite: job-related expenses accumulated in Work In Progress (WIP) accounts had to be manually moved to expense accounts so revenue could be recognized. The finance team spent significant time cross-checking and validating these transfers, which reduced their capacity for other work. 360 Cloud Solutions helped TEP automate this using NetSuite’s project management and financial tools.

360 Cloud Solutions and TEP built an automated expense recognition process that moves project expenses into the correct final expense accounts via journal entries when projects are completed. The solution also handles multiple WIP mappings, late expenses, reversals, and project-level tracking. As a result, TEP saved man-days of Finance effort each month, gained better visibility into WIP balances, and improved reporting with more granular, project-specific journal entries.

Tower Engineering Professionals

Robin Wilson

Director, Financial Systems and Reporting