From financial chaos to global control: the Incode and NetSuite case

Rapid growth, mergers, acquisitions, and global clients. That’s every company’s dream… until systems fall short and operations start to break.

That’s exactly what Incode experienced—a global identity-verification leader that went from startup to “Unicorn” in less than a decade.

But there was one problem: its financial operation was at the limit.

Here’s how they transformed a fragmented, manual, and slow system into a solid, automated global operation using Oracle NetSuite and the strategic support of Efficientix.

Incode: from startup to global unicorn… with an operation on the verge of collapse

Incode was founded in 2015 with a clear mission: to deliver world-class identity verification and authentication technology. Its success was explosive:

• Exponential growth
• Clients across multiple regulated industries
• Global presence
• An aggressive mergers and acquisitions (M&A) strategy

But, as Jonathan Salazar, ERP Project Manager at Incode, told us:

“We are a technology company that develops services around identity verification… and we already have an almost global presence.”

The reality was that operations had not grown at the same pace as the business.

The problem: manual processes, multiple ERPs, and zero visibility

The most affected area was Finance.
The diagnosis was as clear as it was concerning:

• All processes were manual.

• Almost total reliance on Excel.

• Fragmented systems inherited from each acquired company.

• Partial and disorganized use of multiple ERPs (including versions of NetSuite and QuickBooks).

The immediate consequence: a slow, heavy, and uncontrolled operation.

This put something critical at risk for a company that depends on scaling fast:

Making immediate financial decisions for M&A, capital, and global operations.

According to Jonathan:

“Not providing the CFO with fast and accurate information… takes opportunities away from you. Closing periods and generating reports became impossible.”

The risk of doing nothing: a complete halt to global growth

For a SaaS company operating in multiple countries and regulated markets, keeping that fragmentation was unsustainable.

The risks were real:

• Slowing down international expansion
• Making decisions with incomplete data
• Failing financial audits
• Losing speed in critical processes
• Depending on “an army of people” to build a report

In the words of their executive team:
“The operation became unsustainable.”

The decision: implement a global, robust, and scalable ERP

Incode needed a platform that could:

• Unify processes
• Maintain internal control across all its subsidiaries
• Automate accounting and reporting
• Handle multiple books, currencies, and tax requirements
• Prepare for audits and a potential IPO

After evaluating several options, the team chose Oracle NetSuite for its ideal combination of:

• Global reach
• Robustness without the complexity of a Tier 1
• Advanced capabilities for SaaS companies
• Multi-location support
  
  

Why Efficientix: one single point of contact, regional coverage, and real expertise

What tipped the balance wasn’t just the platform, but the partner.

Incode needed an ally with coverage in Mexico and LATAM, proven processes, and a team capable of implementing a high-risk project without friction.

Efficientix met all the requirements:

• A single point of contact for all Latin America

• Deep NetSuite knowledge in global SaaS operations

• Specialized and committed team

• Implementation with a strategic and structured approach

For Jonathan, this combination was decisive:

“The combination of consultants with knowledge and a committed management team… makes it a successful project that has been transformed.”

The implementation: structure, internal control, and multinational Revenue Recognition

The project lasted 10 months and was executed with surgical precision.

1. Organize and unify the global financial operation

• Process consolidation

• Standardized financial governance

• Automated, real-time accounting

• Subsidiary integration under a single system
  
  

2. Implement Revenue Recognition (Revenue Management)

The crown jewel for a SaaS company operating in 13–14 countries:

• Multiple books and currencies
• Country-specific tax compliance
• Automated revenue recognition
• Unified global reporting

3. Corporate-level internal control

Designed for audits, compliance, and global scaling.

Results: speed, control, and an operation ready to scale

The benefits were immediate:

✨ Automated processes

Manual tasks disappeared.

“The workflows are generated so automatically that it eliminates a lot of busywork.”

⚡ Real operational speed

Key cycles —such as Procure to Pay— now flow without friction.

📊 Global financial certainty

Multinational accounting is reflected in real time with complete accuracy.

Before vs. after: the real transformation

Conclusion: a success story that goes beyond technology

For Incode, the success of the project wasn’t just technical:
it was a structural shift that restored control, speed, and clarity to a complex global operation.

In the client’s words:

“NetSuite, Efficientix, and Incode equaled digital transformation for the identity-verification ecosystem.”

This case shows that when a SaaS company scales quickly, a global ERP stops being a luxury and becomes the foundation for growth.