Doctor Anywhere Consolidates Financials, Inventory Management, and Reporting Across 6 Countries With NetSuite
Founded in Singapore in 2017, Doctor Anywhere has grown from a local telehealth startup into a leading provider of health services and products across Southeast Asia.
Amid skyrocketing demand for its telehealth services, Doctor Anywhere expanded into Malaysia, Thailand, the Philippines, Vietnam, and Indonesia. It built a network of brick-and-mortar clinics and pharmacies, as well as an online marketplace offering wellness services like mental health coaching and products like dietary supplements and healthy snacks.
In 2021, Doctor Anywhere raised S$88 million in Series C funding, one of the largest-ever private funding rounds by a healthtech company in Southeast Asia. Last year, it became the first company in Singapore to launch online supervised antigen rapid testing (Tele-ART), establishing its position as one of the island nation’s most forward-thinking healthcare providers. Doctor Anywhere has since recorded more than 100,000 transactions on its Tele-ART services and has almost tripled its revenue year-on-year for the past three years.
Today, more than 600 Doctor Anywhere employees serve approximately 2.5 million users across Southeast Asia.
Maintaining Healthy Growth
Before its regional expansion, Doctor Anywhere used separate systems for accounting and human resources management. These products didn’t integrate easily with the company’s other platforms, such as its clinic management system and its proprietary DA Care platform, which clients use to locate clinics, submit claims, and more. Doctor Anywhere was also using a legacy ERP system to handle its finances, which couldn’t track financial data across multiple countries as the business expanded. And, as the team opened more clinics, they found it increasingly challenging to handle inventory and associated costs using just spreadsheets and guesswork, which resulted in both stockouts and overstocks.
CFO Edwin Basuki recognised the need for a more capable ERP system that could consolidate the company’s entire operations, including financial operations of entities in multiple countries.
“Our old ERP system couldn’t provide all the reporting that we required, and it didn't integrate well with other systems,” he said. “Integrating our various functions was critical if the company was to successfully expand into new markets.”
Just What the Doctor Ordered
Doctor Anywhere switched to NetSuite OneWorld two years ago. The finance team uses the system to easily manage subsidiaries across countries with automated consolidation and currency conversions. Doctor Anywhere also uses NetSuite Inventory Management to keep track of 1,500 SKUs, reducing stockouts and ensuring clinics and pharmacies have the supplies they need to serve patients.
The system has dramatically improved financial reporting, providing the updated figures needed to track cash flow across borders in real time. Doctor Anywhere has also used NetSuite to build strong investor relationships by providing easy access to thorough, tailored reports.
“Being able to represent data to external stakeholders is an important driver of confidence,” said Basuki. “Now that we're in six countries and have many lines of business even within a single country, having an overview of financial and operating data is more important. NetSuite grants us agility and confidence to propel our growth.”
A Dose of Audit Efficiency
Now that Doctor Anywhere has NetSuite underpinning its entire operation, Basuki is turning his attention to fine-tuning its use of the system. The team is working on simplifying audit preparations for investors and other stakeholders.
“As we go further in this growth journey, we’re looking to make sure that we can further reduce the time it takes to complete an audit,” Basuki said. “Having a system like NetSuite is tremendously helpful for that.”
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