CASE STUDY
Why Woolnorth Renewables implemented NSPB before ERP, and built a key driver–led finance function from day one
In 2023, the major transformation wasn’t operational, it was financial.
After relying on a joint venture partner for finance operations, Woolnorth brought the function in-house. With a lean team of four and limited access to historical system data, the goal was ambitious:
Implement NetSuite Planning & Budgeting (NSPB) in eight weeks, before NetSuite ERP, deliver board-ready management reports in English and Chinese from day one and a new 3-year budget.
“We threw the rule book out the window,” said Kerry Butler, CFO.
“We implemented NSPB before NetSuite ERP. It wasn’t conventional, but we needed clear management reports ready in English and Chinese from the outset.”
By 1 January 2024, they were live.
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Woolnorth Renewables generates approximately 9% of Tasmania’s electricity, operating three wind farms across the state and progressing development at Mt Fyans, Victoria.
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Renewable Energy Power Generation
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Wind farm operation and development
Repowering projects
Community engagement and education
“The board got the first pack for January month end, loved it and wanted more. By March, we had a rolling forecast live and importantly delivered for the board.” Kerry Butler, Woolnorth Renewables
The Challenge
Rebuilding finance without the data
Transitioning from outsourced finance required:
Extracting historical data from a joint venture partner
Designing new reporting structures
Supporting increased governance oversight from a Chinese parent
Delivering immediate board confidence
Access to templates and system data was restricted. Key processes had to be rebuilt without full visibility.
“It was the first project I’ve done where I didn’t have access to the real data. We were making decisions without knowing how things were being done.”
At the same time, reporting expectations were high.
Why NSPB first
Rather than follow standard sequencing, Woolnorth, with Pivot2’s guidance, implemented NSPB first.
“I didn’t want to build a budget in Excel. We needed our budget and comparatives loaded from day one.”
NSPB was configured to ensure:
Budget and comparatives ready before ERP go-live
Dual chart of accounts in English and Chinese
Board pack design embedded into the model
Structured variance tracking from the outset
The timeline was eight weeks. The go-live date was fixed.
The team switched off the joint venture system in late December and went live on 1 January, working through the holiday period to ensure continuity.
“We switched off the old system in late December and went live on 1 January. There were a few of us working over the Christmas break and everything worked.”
Month one reporting was delivered seamlessly.
“The board got the first pack for January month end, loved it and wanted more. By March, we had a rolling forecast live and importantly delivered for the board.”
Because Pivot2 had future-proofed the model, Woolnorth could respond to new board requests immediately, without redesign.
From data-rich to insight-led
Before NSPB, Woolnorth had information but limited structured forecasting.
“We knew we were data-rich but analysis-poor.”
Within months, Woolnorth had:
Rolling forecasts operational
Consolidated and entity-level variance reporting
Secure, centralised planning
Reduced spreadsheet risk
“It’s good to bring that information into NSPB and know there’s data security. People cannot delete something by accident.”
Supporting governance complexity
With increased Chinese board oversight, governance requirements intensified. Approval structures became more layered, and reporting expectations evolved.
Pivot2 helped design an NSPB model capable of:
Dual-language reporting
Consolidated and entity-level visibility
Structured review processes
Scenario modelling
Keeping Excel — without relying on it
Excel wasn’t removed, it was connected.
Using Smart View, this valuable add on to Excel connected back to NSPB seamlessly resulting in:
Managers complete budget templates in Excel
Inputs are reviewed centrally
Data uploads directly into NSPB
Manual consolidation is eliminated
Budget versus Actual detailed reports for Departments are refreshed monthly giving ready to go analysis for Managers in a familiar Excel format.
“Excel is great. But building complex, collaborative budgets in spreadsheets is hard. Smart View has worked really well.”
Budget maturity has progressed from driver-based modelling to greater operational input, with AI-driven assumption validation now under consideration.
The Pivot2 difference
For Kerry, partnership was critical.
“A strong partner is invested in your business, not someone who delivers a vanilla solution and disappears.”
With a small team navigating a full finance transition, Pivot2 provided:
Strategic sequencing advice
Future-ready model design
Board pack build and optimisation
Critical troubleshooting during reporting cycles
“It was trial by fire for some of our team, but Pivot2’s expertise made all the difference.”
The project was delivered on time, on budget and with immediate board confidence.
The outcome
A scalable planning foundation
Today, Woolnorth Renewables operates with:
Finance fully in-house
NSPB embedded as its planning engine
Rolling forecasts and structured variance tracking
Dual-language governance capability
Reduced spreadsheet risk
“As a team, we set ourselves a vision and delivered it. On budget, on time, and positive feedback from the board.”
NSPB wasn’t an add-on.
It became the foundation for scalable planning, governance and long-term financial confidence.
“The Pivot2 team was fabulous. They went the extra mile - working late, troubleshooting glitches, and always being available. Their effort often pushed my team to do the same. As a team, we set ourselves a vision and delivered it. On budget, on time, and with positive feedback from the Board. That’s something we’re incredibly proud of.”
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