Far Eastern University & Pancake House Group Selects NETSUITE For New Joint Venture

NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based enterprise resource planning (ERP) / financial suites, today announced that The Institute of Culinary Arts and Food Service at Far Eastern University (ICF@FEU) (www.icf.com.ph) has selected NetSuite to manage its operational needs. By choosing NetSuite, ICF will avoid the costly purchase of enterprise servers and also save multiple headcount by eliminating the need to hire dedicated staff for IT management and inventory tasks. ICF will benefit from NetSuite to support its accounting, purchasing, inventory, analytics and reporting, as well as school administration and management functionalities such as student registration and faculty management. For more information about NetSuite, please visit http://www.netsuite.com.

Based in Makati City, Philippines, ICF@FEU is a joint venture between restaurant operator Pancake House Group – owner of locally popular restaurants such as the Pancake House, Dencio’s, Teriyaki Boy and others – as well as Far Eastern University, a large, private university in the Philippines founded in 1934. ICF was founded with a mission to introduce innovations to the Filipino culinary world with a holistic and integrated approach towards health, wellness, and food sustainability. It opened its doors to students in August 2010, offering a unique student intake cycle and a focus on both culinary skills training and degree programs. Prior to opening, however, ICF realized that it needed a back-office solution similar to the one used in FEU – a system that could manage the needs of the Institute as well as school administration and management. Also, because the culinary school had many of the same equipment and supply needs as a restaurant, ICF required a solution with robust inventory and purchasing management as well. This presented a challenge for ICF which was easily met by NetSuite’s comprehensive suite of business applications.

Besides offering core applications for ERP, CRM and E-commerce, NetSuite’s extensible, on-demand platform – the NetSuite Business Operating System or SuiteCloud – allowed ICF to customize the application and build a unique / vertical-specific instance of NetSuite. Through the vertical-industry expertise of global Solution Provider partner Softype and the professional implementation services of local partner and APAC Solution Partner of the Year Phoenix Global Energy Solutions, NetSuite was customized to meet not just the accounting and financial reporting needs of ICF but also their operational needs related to school administration. Within NetSuite, ICF can automate and manage key business processes such as student registration, course and faculty management, class scheduling, and others. Because customizations carry forward seamlessly with upgrades on the SuiteCloud platform, there is no danger that these customizations won’t be supported over the long term.

Today, NetSuite's powerful cloud computing solution delivers everything ICF needs to support its students from enrollment to classes, and in the future, even manage everything including their graduation, placement, and alumni services. For faculty and staff, with NetSuite’s anywhere, anytime access, ICF administrators are freed from the campus and can work from anywhere. Robust data integration makes student and faculty relations a snap, and the comprehensive back-office capabilities in NetSuite allow purchasing and inventory tasks to be shared among existing staff, reducing the need for future hires. The intuitive NetSuite interface minimizes training requirements, allowing ICF@FEU to meet aggressive timelines to implement the solution before the next student intake cycle.

"NetSuite meets all of the requirements for a school, and automates many of the processes we would normally have to perform manually," said Evelyn Misola, Head Admissions Registrar, ICF@FEU. “We look forward to growing our school with NetSuite for many years to come.”

About NetSuite
NetSuite Inc. is the industry’s leading provider of Cloud-based financials/ERP software suites. NetSuite enables companies to manage core key business operations in a single system, which includes Enterprise Resource Planning (ERP), Accounting, Customer Relationship Management (CRM), and Ecommerce. NetSuite's patent-pending "real-time dashboard" technology provides an easy-to-use view into up-to-date, role-specific business information. For more information about NetSuite Inc., please visit www.netsuite.com.

NOTE: NetSuite and the NetSuite logo are registered service marks of NetSuite Inc.