Smule, Inc. is a global leader in interactive music creation with a mission to connect the world through music. Every day, millions of people use Smule’s products, including social singing app Smule, AutoRap and Magic Piano® to create original performances, collaborate with new friends and join a global community of music lovers. Smule has an operation in Sofia, Bulgaria, since 2018.
As many US-based software companies, Smule, Inc. implemented Oracle NetSuite – a cloud ERP. With the continuous growth of the subsidiary office, the need for an integrated accounting and reporting system became more and more urgent.
Logically, Smule Bulgaria chose NetSuite as a further step in streamlining and managing the global operations of the Group. The ERP solution is used not only for accounting purposes but also for financial and management reporting.
In order to have a dual solution which can be used for the group as well as statutory purposes, a specialized module - Multi-Book accounting has been implemented which enables Smule to keep accounting records under two separate legal frameworks – US GAAP and Bulgarian.
Not only this but the system also enables Smule to automate and facilitate easy reporting to Bulgarian institutions as part of regulatory compliance in the country.
The whole ERP integration project took only 3 months and most of its part was done remotely due to the COVID-19 pandemic.