Category Archives: NetSuite

Draper James gains foundation to grow graciously with NetSuite

og image Draper James gains foundation to grow graciously with NetSuite

Southern Lifestyle Brand Supports Omnichannel Strategy with NetSuite’s Retail Apparel Edition

SAN MATEO, Calif.—September 20, 2017—Oracle NetSuite, one of the world’s leading providers of cloud-based financials / ERP, HR, Professional Services Automation (PSA)</a> and omnichannel commerce software suites, announced today that Draper James, a fast-growing Southern-influenced apparel and homewares line founded by actor Reese Witherspoon, has implemented and gone live with NetSuite’s Retail Apparel Edition in 144 days to power its financials, inventory, customer and order management processes. Draper James now has an end-to-end view of the business across its wholesale distribution, ecommerce channels and three brick-and-mortar locations, to enable seamless omnichannel experiences for its customers and retail partners.

Witherspoon founded Draper James as a tribute to her Southern heritage and gracious Southern living, and in particular her grandparents, William James Witherspoon and Dorothea Draper—who never left the house without her pearls or wedding ring and always drove her white Cadillac with the proper driving gloves. To realize its mission to give everyone a taste of that contemporary yet timeless Southern style Witherspoon grew up with, Draper James needed to scale operations for growth across expanding channels—which included ecommerce, plans to open brick-and-mortar locations and engage in B2B partnerships with leading retailers.

When running a clothing line whose founder is an internationally acclaimed actor, a big part of delivering a great customer experience is ensuring that whatever Witherspoon is pictured wearing is available for purchase. And when a dress can sell out in mere minutes after she is photographed wearing it, ensuring supply matches demand is crucial.

That wasn’t so hard to do when Draper James first launched as an online brand in 2015. But demand for its dresses, t-shirts—adorned with phrases like “howdy,”—and friendly, powder blue gingham stationery, grew across the country. People everywhere from Greenville S.C. to Greenwich, Conn. were looking to incorporate a bit of Southern charm into their lives.

“We really needed to have unified data to remove the barriers between channels,” said Melissa Baird, VP of Systems and Procedures for Draper James. “If a customer shopped in the Lexington store, and the only dress left in the network was in Nashville, we wanted to allow the customer the ability to easily purchase it from an iPad and have it delivered directly to the location of their choice.”

Draper James couldn’t meet the buy-anywhere customer expectation and wasn’t pleased with its previous inventory management processes, being forced to perform time-consuming, error-prone and inefficient manual workarounds in Excel. Disparate systems held the company back from getting to know its customers better, and from ensuring that what they wanted to buy was in stock. It knew sustainable, efficient growth depended on managing and maintaining flexible inventory across channels.

Draper James implemented NetSuite’s Retail Apparel Edition in June 2017 in 144 days using NetSuite SuiteSuccess; a methodology designed to deliver faster time to value, increased business efficiency, flexibility and greater customer success. SuiteSuccess leverages NetSuite’s depth of experience in the retail industry and business operations functionality, including preconfigured dashboards for retail-specific roles and reports with business intelligence for retailers that provides insight into top selling items, units per transaction, shrink reports, sales per hour, sell-through figures and retail stock-ledger.

“Since we’re such a young business, we needed a vendor flexible enough to allow us to morph and grow as a company,” Baird said. “We wanted a good partner for the long run—a like-minded vendor that understood what we were trying to do as we scaled as a company.”

NetSuite allows Draper James to manage its business across ecommerce, wholesale distribution and brick-and-mortar channels in a smarter way, maintaining flexible inventory and avoiding stock-outs. Efficient, lean operations allow Draper James to keep a laser focus on listening to customers, detecting patterns and focusing on adding value to the customer journey across its different retail touch points.

Since implementing NetSuite, the now 30-employee company has forged wholesale distribution partnerships with luxury retailers like Nordstrom and Net-a-Porter, and opened brick-and-mortar stores in Nashville, Dallas and Lexington. The business is headquartered in New York, with a warehouse in Greenville, S.C. and much of its manufacturing done in the south.

NetSuite provides an end-to-end view of business for retailers such as Draper James across wholesale distribution and ecommerce channels, as well as company brick-and-mortar locations, to enable seamless, omnichannel experiences for customers.

NetSuite’s cloud-based software removes complexity, and allows fast-growing companies with many remote workers to run best-in-class processes without high implementation costs and overhead associated with managing on-premise software. In turn, the business can adopt new functionality when it needs it to reach new goals. For more information on NetSuite’s products, please visit http://www.netsuite.com.

About Oracle NetSuite
Oracle NetSuite pioneered the Cloud Computing revolution in 1998, establishing the world’s first company dedicated to delivering business applications over the internet. Today, it provides a suite of cloud-based financials / Enterprise Resource Planning (ERP), HR and omnichannel commerce software that runs the business of companies in more than 100 countries. For more information, please visit http://www.netsuite.com.

Follow Oracle NetSuite Global Business Unit’s Cloud blog, Facebook page and @NetSuite Twitter handle for real-time updates.

About Oracle
The Oracle Cloud delivers hundreds of SaaS applications and enterprise-class PaaS and IaaS services to customers in more than 195 countries and territories while processing 55 billion transactions a day. For more information about Oracle (NYSE:ORCL), please visit us at oracle.com.

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Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

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PH Businesses Increasingly Adopting Cloud-based ERP to Grow Globally, Innovate

websitelogo PH Businesses Increasingly Adopting Cloud based ERP to Grow Globally, Innovate

Posted by Jan Pabellon, Director of Product Management, Oracle NetSuite

Theo and Philo’s unique bean-to-bar, single-origin Philippine artisanal chocolate hit a sweet spot in the market shortly after its launch in 2010 – with demand growing at a rate of 700 percent to reach 14,000 bars a month. But it knew efficiently scaling to meet that demand with its current system would threaten to sour customer relationships. Its inventory management and accounting, which were previously running on spreadsheets and a disparate QuickBooks system respectively, didn’t lend the business the robust functionality that it needed to efficiently manage operations, nor afford the scale to accommodate growth.

In 2015, it implemented a cloud-based platform, NetSuite OneWorld, for end-to-end business management – including inventory, orders, financials and purchasing – empowering operational efficiencies, streamlining inventory management and lending the business multi-currency and tax functionality that enabled it to expand sales globally into Germany and Japan.

“NetSuite is an integral part of our day-to-day operations and a scalable platform for our continued growth,” Theo and Philo Founder Philo Chua said. “We’re a lot more efficient and, as we grow, the automated process flows and checks and balances that we need are already in place within NetSuite.”

Manila-based Theo and Philo is one of the growing number of Philippine businesses leveraging the power of cloud-based ERP to innovate and grow. The Philippines is also quickly leading in the Asia Pacific region in terms of cloud adoption, overtaking Thailand and climbing up a spot to land in 9th place in the Asia Cloud Computing Association’s “Cloud Readiness Index.” The country scored highly in terms of freedom of information and protection of privacy, which are both considered critical factors in cloud adoption.

Cloud computing is at the center of a confluence of trends that include mobility, social, and analytics and big data, and is the next logical step in how applications should be developed and delivered, making full use of the transformative power of the Internet. That’s why companies are increasingly leaving their aged, legacy systems behind in favor of cloud-based alternatives. They know that systems designed before the advent of the Internet and mobile won’t be able to keep up with the realities of doing business today, requiring constant change, adaptation, agility and innovation.

As such, cloud computing is extending across industries – including manufacturing, wholesale distribution, retail and services – and helping to blur the lines between them as business models transform and adapt to the changes brought about by digital technologies. For example, we are seeing manufacturing companies starting to distribute products themselves in a bid to improve margins by cutting out middlemen, or distributors augmenting revenues by selling direct to consumers by taking advantage of online channels. We are also seeing service companies starting to reconfigure their processes to offer more “productized”, repeatable, turnkey versions of products, and we see the opposite as well— product companies differentiating their offerings via value-added, digital or premium services.

Those businesses that empower innovation with the cloud are uniquely poised to capitalize on this trend – and transform their businesses to meet the demands of today’s markets and consumers.

Take Dowi Hosiery Mills, a nearly 40-year old manufacturer of socks and other hosiery products, selling brands such as Darlington and Exped through nearly 100 retailers. It implemented NetSuite in September 2014 to replace a multitude of legacy, homegrown, custom software systems, manual processes and multiple databases — which it felt harmed the company’s ability to strengthen its retail relationships, and made it difficult to accurately match manufacturing output with demand. Dowi Hosiery Mills now uses NetSuite for financials, order management, invoicing, billing, purchasing, receiving, shipping, RMA management, multi-location inventory, reporting and analytics. With NetSuite cloud ERP, there is no longer a need to endure version lock, painful upgrades and maintaining on-premise systems. Instead, Dowi can now get automatic product upgrades twice a year and a platform that allows for easy customizations and integrations. Dowi Hosiery saved eight full-time employees that it otherwise would have needed to add just to keep up with the order processing and inventory tracking demands under the old systems and accelerated the path to market for new lines of socks with high-tech fibers. The company is also able to deliver much better service to its retail partners.

The Philippines needs more of these types of businesses: world class, globally competitive business, disruptors and innovators which can transform their industries, pioneers who can provide newer and better services for consumers. By innovating in the cloud, Philippine businesses can continue to lead, and adapt at the speed demanded in today’s global economy.

Posted on Mon, September 18, 2017
by NetSuite

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With NetSuite, Pusateri’s Empowers Industry-Leading Innovation in Gourmet Stores

Posted by Kristen Swenson, Wholesale Distribution Marketing Lead

Providing a neighborhood grocery experience that concurrently whisks customers away on PUSATERIS TAG B With NetSuite, Pusateri’s Empowers Industry Leading Innovation in Gourmet Storesa culinary adventure has made Pusateri’s stores legendary in Canada since Cosimo Pusateri founded the first store in North Toronto more than 50 years ago.

Staying true to old principles – treating customers as friends, providing fruits and vegetables sourced the same day on its store shelves, exceptional butchery and freshly prepared foods – have distinguished the business from high-end grocer competitors. But to continue to thrive and grow its unique business model in an industry that is becoming increasingly commoditized – Pusateri’s needed to blend the old with the new.

“The reason that Amazon and all these guys are wildly successful is the concept of personalization. You need a seamless customer view, whether in-store or online,” said Adam Barnard, Pusateri’s Chief Financial Officer and technology leader. “If I don’t know who that guest is when they come into the store, then I’ve broken ties with that guest.”

Some two years ago, a business with then three locations invested in a unified platform for managing its business. Now boasting six stores and eyeing online expansion and international partnerships, it is uniquely positioned to deliver a seamless customer experience across channels and win against much, much larger competitors.

We needed data to make better decisions

With a belief in the value of data analysis, the business started to look to technology after the launch of its third store, in the Bayview Village location. Growth wasn’t matching expectations, and it wanted to know why.

Barnard was hired to that end. He sought to examine item level records and what people were buying, including similar items in baskets, to perform analysis on cost/margin and throughput – but couldn’t. With disparate systems and manual processes managing business, there wasn’t a single source of data, nor an efficient way to do so.

“Data was needed to make better decisions,” Barnard said.

1B With NetSuite, Pusateri’s Empowers Industry Leading Innovation in Gourmet StoresAt the same time, there was a growing need to simplify the management of the complex business. Part retailer, part manufacturer, Pusateri’s also runs a 14,000-square-foot commercial kitchen in which it sources the highest quality ingredients and prepares all its fresh home meal replacements served in its stores and services a catering business that represents about six percent of its total revenue. It was running that process with orders logged on paper and a fax machine.

When it decided to look for ERP software to automate processes in 2015, a devastating fire ripped through its flagship store and corporate offices in North Toronto after it had closed for the evening, causing significant damage. That forced the business to examine its disaster recovery plans, and led it to focus its technology search on cloud-based systems.

NetSuite enables end-to-end view

As such, in 2016, swayed by its cloud architecture, usability and robust functionality, Pusateri’s went live with NetSuite to manage end-to-end business, linking everything from its in-store POS systems to inventory, warehouse and order management to financials in a unified NetSuite platform. NetSuite manages the movement of 18,000 active items and relationships with over 1,000 suppliers.

The business links the customer’s purchases in the store through the POS system to NetSuite, which automatically updates inventory levels, finance data and the customer record. It has also automated processes for stores to order prepared foods from the commercial kitchen, data that it can then analyze to better plan for demand of its prepared foods by store in subsequent weeks. That includes access to daily reports on profit and loss.

“It gives the stores visibility into what is coming to them,” he said.

In fact, since implementing NetSuite, Pusateri’s has opened three new locations, doubling 4 With NetSuite, Pusateri’s Empowers Industry Leading Innovation in Gourmet Storesits stores to six. Knowing exactly how much is selling at each location – both in terms of inventory items and prepared and fresh foods — helps leadership better plan for demand, and has had a direct impact on margins.

“We were able to open three stores because we could quickly respond to what customers wanted,” Barnard said.

Insight for optimization, growth 

In all, NetSuite has allowed the business to design stores that are highly tailored for their specific audiences, and they continue to break new sales ground every month – something quite atypical for the grocery store industry.

To maintain momentum, it’s looking to innovate its customer experiences – enabling ecommerce as well as launching a relevant, compelling loyalty program that links both online – which the company envisions as being a sort of “white-glove” food delivery service — and in-store shopping. It’s also looking to expand into the United States through key partnerships with Saks Fifth Avenue.

“We’ve done an exceptional of job perfecting the in-store experience, and NetSuite is a huge piece of that,” Barnard said. “We’re now trying to figure out how to take that in-store experience and digitize it, so that we can better understand our customers and provide relevant delivery solutions through an ecommerce platform.”

For more on how Pusateri and other businesses are readying themselves for the next phase of their business, register for the Next Ready Business Tour in Toronto, Sept. 26 or at a city near you.

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NetSuite to Ramp Up EMEA Sales Recruitment to Support Global Growth

websitelogo NetSuite to Ramp Up EMEA Sales Recruitment to Support Global Growth

Posted by Mark Woodhams, VP EMEA

Oracle NetSuite, a pioneer and global leader in cloud software suites, is more than quadrupling the size of its sales team in EMEA, recruiting Applications Sales Representatives across the region, particularly in the UK, Netherlands, Belgium, Sweden, Denmark, Finland, Norway and Germany.

The winner of multiple awards, NetSuite’s true-cloud business system is aimed at helping companies in all industries grow. More than 40,000 organisations and subsidiaries are running on NetSuite– all on the same version of the software. Now backed by Oracle, the company is expanding across the EMEA region and beyond, meaning there has never been a better time to join NetSuite. Its ability to support companies from start-ups to global businesses makes the company ideally positioned to increase its market lead and grow sales even faster.

NetSuite has led the Cloud Computing revolution since 1998 and remains one of the most exciting and fastest growing cloud companies in business today. As a Global Business Unit within Oracle it maintains its separate identity, culture and product focus. Increasing investment in offices, data centres, product localisation and marketing across EMEA and globally is all good news for the growing sales team.

Applications Sales Representatives are given the tools to succeed:

  • Industry leading commission plan with great opportunities to hit and exceed OTE (on target earnings)
  • Heavy investment in growing the teams of Solution Consultants, corporate and local Marketing and EMEA based Business Development Representatives to support their success
  • With the backing and investment of Oracle, market awareness of the NetSuite brand is growing significantly.

This is a fantastic opportunity to join a very successful sales led market leader, with a phenomenal culture, an incredible product and the investment to grow exponentially.

If you want to take your sales career to the next level, want to work hard, play hard and over achieve then visit http://www.oracle.com/webfolder/experience-oracle/index.html.

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How Technology is Enabling Family Businesses to Thrive in the World of Digital Commerce

Posted by Maggie Miller, Senior Commerce Content Manager

In 1989, Peg and Tim Liebert founded a mail-order company they called Kansas Sampler. The catalog was filled with apparel and gifts related to the state of Kansas and local sports teams. In 1990, they expanded into brick-and-mortar retailing by opening five stores in the Kansas City area.

Fast-forward to 2017 – the family-owned business, under the name Rally House is operating over 60 stores in nine states and a growing ecommerce site with son Aaron Liebert leading the helm.

What’s helping to drive the growth of this second-generation family-owned business? Modern commerce technology.

“The retail industry changes fast,” said Liebert. “We came to a point where we needed a technology solution that was flexible and scalable so we could adapt quickly in this fast-changing industry.”

To modernize its business to meet the demands of today’s customers, Rally House turned to NetSuite to run its ERP, CRM, point-of-sale, ecommerce, order and inventory management and commerce marketing automation. Before that, the company was running on an operation of disconnected on premise systems and applications including QuickBooks, Excel and Celerant for POS and ecommerce.

Transforming Stores to Warehouses

The cloud-based solution helped Rally House double its store footprint in two years withoutSpringfield St.%20Louis%20Blues How Technology is Enabling Family Businesses to Thrive in the World of Digital Commerce having to add new IT staff. Real-time inventory visibility has allowed Rally House to display item availability by store on its website. Optimizing even more, Rally House moved its inventory to the stores – shutting down its distribution center. Fulfilling online orders from stores is a huge cost savings and provides a greater selection, faster shipping and improves customer satisfaction.

Another way Rally House is innovating the customer experience with technology is by offering a buy online, pick up in store option which also helps generate increased store traffic.

“We wouldn’t have been able to support this growth without NetSuite,” said Liebert. “Now we have a solution that can last with us forever.” 

Technology Turns the Page for TALAS

Another family-owned company taking on a new chapter in business transformation is TALAS.

 MG 1154 How Technology is Enabling Family Businesses to Thrive in the World of Digital CommerceStarted in 1962 by Elaine and Herbert Haas, TALAS was the first company in the US to provide the museum and library community with hand bookbinding and conservation supplies.

Today, Aaron Salik leads the second generation family business which now serves institutions, businesses and individuals around the world.

As the craft of bookbinding and art conservation was undergoing a resurgence, TALAS saw a need to upgrade its business with modern technology. TALAS closed the books on its outdated, disconnected systems including Sage and a homegrown ecommerce site and implemented NetSuite’s unified solution including ERP, CRM, ecommerce, inventory and order management and commerce marketing automation.

“NetSuite has allowed us to take a 50-year-old business and transform it with technology to grow without adding extra resources,” said Salik.

New Website Restores Online Experience

With the majority of the business coming from online sales, it’s critical for TALAS to provide a best-in-class online experience. Its new online store provides a fresh, easy to use, mobile-optimized experience and eliminates the manual order processing of online orders. With the new site, TALAS has seen its search rankings soar, helping to drive new customer acquisitions. Talas is now reaching a global audience and boosting demand for their products across the world. Customers seem to be enjoying the new online experience with sales up by 20 percent.

By investing in NetSuite both companies have gained a scalable solution that supports the business, without having to incur the costs of hiring new staff. From eliminating a warehouse to automating operational processes, both companies were able to create efficiencies that increase profits, cut costs and innovate on the customer experience. All while having technology that can grow with their companies for many more generations to come. 

Posted on Mon, September 11, 2017
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Determining the Metrics that Matter: Measuring a Professional Services Business

websitelogo Determining the Metrics that Matter: Measuring a Professional Services Business

Posted by Jack Bryant, Services Industry Marketing Lead

While the ways in which to measure outcomes in a professional services business controversy have grown significantly in recent years, a basic question still remains, what metrics should be followed and how best to measure them. It can feel like a lot like weight loss, watching calorie intake all week but the number on the scale still shows the same results.

Unfortunately, the scale offers only rudimentary insights into a person’s efforts. Any number of things can impact weight loss, from calories to exercise to sugars and carbohydrates to genetics itself. Like weight loss, the issue when establishing a program to track key performance indicators is determining those meaningful resources that will help track greater change.

Every metric provides a certain amount of business intelligence, but many services businesses can cite over 50 meaningful metrics. In the book, “The Balanced Scorecard,” David P. Norton and Robert S. Kaplan introduce the concept that “existing performance measurement approaches, primarily relying on financial accounting measures, are becoming obsolete.” Thomas E. Lah, in his book “Building Professional Services: The Sirens’ Song,” describes the 10 metrics that can help companies improve their business and gain strategic insight. He suggests that companies approach the challenge from five different perspectives before determining on the metrics that suit them best:

Functional Perspective: What business function does this metric help evaluate? Your sales organization? Your delivery teams? Service marketing?

Economic Perspective: Almost every internal company initiative has one of two objectives: improve operational efficiency or create future revenue (economic value). Does the metric track improvements in operational efficiency or assess the economic value of the business?

Timeframe Perspective: Just like economic data, is the metric a leading or lagging indicator of how the business is performing? Does the metric indicate you currently have a real problem, or does the metric warn that soon you will have a problem if the current trend continues?

Scope Perspective: Does the metric measure the performance of specific individuals, specific projects or the entire business unit?

Stakeholder Perspective: Does this metric provide insight on how your external stakeholders view you? External stakeholders would include customers and partners.

Like stepping onto a scale, metrics do not tell the full story. There are important metric “must haves” that provide the greatest insight into managing a services business and tell an even greater story. How can the five perspectives be applied to help create and effective metrics portfolio? To explore the 10 essential metrics that matter when measuring professional business services, download: NetSuite OpenAir-Metrics that Matter 2017.

Posted on Thu, September 7, 2017
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Oracle NetSuite named a leader among B2B commerce suites for midsize organizations by independent research firm

og image Oracle NetSuite named a leader among B2B commerce suites for midsize organizations by independent research firm

Report Finds SuiteCommerce Solution is Best Fit for Midmarket B2B Organizations Looking for an Easily-configured, Value-priced Multi-tenant SaaS Commerce Suite

SAN MATEO, Calif.—September 5, 2017—Oracle NetSuite, one of the world’s leading providers of cloud-based financials / ERP, HR, Professional Services Automation (PSA)</a> and omnichannel commerce software suites, today announced that NetSuite was recognized as a leader in The Forrester Wave™: B2B Commerce Suites for Midsize Organizations, Q3 2017.

In a summary of its profile, the report states, “Oracle’s NetSuite SuiteCommerce Advanced solution is a best-fit for midmarket B2B customers looking for an easily-configured, value-priced multi-tenant SaaS commerce suite that works seamlessly with NetSuite’s widely-deployed ERP solution.”

“Being named a leader in this Wave evaluation validates that a cloud-based, unified platform is the right approach for midsize companies looking to enhance their ecommerce experience while lowering costs. This approach eliminates the time, money and IT resources needed to manage software and hardware without compromising on functionality or performance,” said Andy Lloyd, Vice President of Commerce Products, Oracle NetSuite. “Instead, companies can shift their focus and resources on what’s truly important—growing the business and providing superior customer service. Additionally, as companies explore new business models including B2C, SuiteCommerce is a solution that will continue to support their needs.”

To be competitive in today’s digital landscape, companies need to create sites that engage business customers, maximize their buying efforts and save them time. SuiteCommerce Advanced easily adapts and scales to the unique B2B selling and buying scenarios the industry requires. SuiteCommerce Advanced not only provides an online web store but also delivers password-protected, self-service capabilities to manage all aspects of the business relationship, including:

One Platform for B2B and B2C. Rapidly deploy and manage multiple B2B and B2C sites on the same platform by using the same content and infrastructure to create custom sites and catalogs. Manufacturers and distributors can offer direct-to-consumer online sales and support the traditional B2B channel.

Pricing, Terms and Credit Limits. Offer the same tailored pricing, terms and credit limits to your buyers online that they receive offline. You can also set different pricing levels for the same item for different customers and offer channel or volume discounts.

Quoting. Streamline the quoting process. Allow buyers to submit a Request for Quote on your website. A company representative can revise/approve the quote, the buyer can then convert the quote to an online order.

Billing. Automate and expedite your billing process by giving your customers the ability to review and manage payments online.

Global Support. Expand your business around the world from a single platform that supports 20 languages, automated tax calculation in more than 100 countries and 190 currencies. All the while, you can easily consolidate multi-subsidiary reporting.

Single Source of Data. With a single, unified platform, fragmented sources of data are consolidated into a single repository to create a single source of customer, inventory and order data that allows merchants to provide a more consistent and relevant customer experience while streamlining operations, better managing suppliers and stock, speeding fulfillment and improving customer service.

Click here to get a copy of the Forrester report

About Oracle NetSuite
Oracle NetSuite pioneered the Cloud Computing revolution in 1998, establishing the world’s first company dedicated to delivering business applications over the internet. Today, it provides a suite of cloud-based financials / Enterprise Resource Planning (ERP), HR and omnichannel commerce software that runs the business of companies in more than 100 countries. For more information, please visit http://www.netsuite.com.

Follow Oracle NetSuite Global Business Unit’s Cloud blog, Facebook page and @NetSuite Twitter handle for real-time updates.

About Oracle
The Oracle Cloud delivers hundreds of SaaS applications and enterprise-class PaaS and IaaS services to customers in more than 195 countries and territories while processing 55 billion transactions a day. For more information about Oracle (NYSE:ORCL), please visit us at oracle.com.

Trademarks
Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

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8 Key Questions that Can Make or Break Your Distribution Business

websitelogo 8 Key Questions that Can Make or Break Your Distribution Business

Posted by Ranga Bodla, Head of Industry Marketing

Dirk Beveridge, the noted wholesale distribution thought leader and innovator, has eight critical questions for distributors to ponder as they strategize how to grow their businesses in challenging times.

The eight questions are packaged up in an online Innovative Mindset Assessment tool offered by Beveridge, founder of Unleash WD and author of “INNOVATE! How Successful Distributors Lead Change In Disruptive Times.”

For instance, in the tool distribution professionals are asked about their approach to the future of their businesses. They can select from four responses that range from:

  • “You are completely consumed by the day-to-day of the business and can’t see a path forward through the fog or uncertainty.”

to

  • “You are in a fearless pursuit of tomorrow, continually peering into the future, defining and creating your organization’s destiny.”

After taking a few minutes to answer the self-assessment questions, distributors are scored on their current and ideal mindsets around eight characteristics of innovation: 1) Energized and Optimistic 2) Intellectual 3) Think Big 4) Challenger 5) Experimenter 6) Do-er 7) Value Creator and 8) Own The Future.

“The Innovative Mindset Assessment tool identifies the characteristics of those who don’t innovate with the ultimate goal of helping to identify where they fall on the spectrum and what they specifically need to do to improve your position,” said Beveridge, who also produced a recent webinar for distributors called The Innovative Mindset.

Plotting Your Course from A to Z

I totally agree with Beveridge that a mindset focused on innovation is a must for distributors to differentiate and transform their businesses. But adapting mindsets to embrace and drive innovation is not necessarily easy.

For some people, that can be challenging on an individual level. Organizational barriers are more difficult to overcome. A business culture that’s stuck in the past and resistant to change is an obstacle that has led to the demise of untold companies in every industry. Unless innovative leaders are steering the ship, a company may be headed for rocky shoals.

Taking stock of where you are and where you need to be is a fundamental first step to innovation. Understanding what innovation entails is mandatory. That’s why a tool like Beveridge’s Innovative Mindset Assessment can be so valuable.

At NetSuite, we’ve helped thousands of distribution companies run faster, leaner and more profitably. But technology alone is not a cure-all. We have some distribution customers that continue to underperform because laggard leadership misfires on the use of IT systems and other areas.

The sweet spot is innovative, future-focused leadership that takes full advantage of NetSuite’s unified platform to drive transformation and competitive advantage. Our distribution customers routinely see double-digit gains across all key metrics when creative leaders automate critical processes with cloud ERP, CRM and ecommerce.

Innovation in Perspective

It’s also important to keep innovation in perspective. We’re plunging into a future of drone delivery, artificial intelligence, 3-D printing, the Internet of Things and driverless vehicles. But innovations at a distribution company don’t need to make the cover of Wired magazine to qualify as innovation.

Moving from a clunky first-generation website to a seamless ecommerce portal for your customers is an innovation that drives the business forward. So is an EDI system that cuts your partner onboarding time, or a demand planning tool that slashes your inventory carrying costs.

Maybe you use a mobile-enabled warehouse management system that improves fulfillment speed and accuracy, or equip your sales reps with a product catalog, real-time inventory data and mobile ordering on a sleek tablet, so they can showcase and order products right from a customer’s office.

Aggregate those individual gains into a whole and you’ve made a massive transformation in business performance and profitability. That’s innovation. And it translates to business advantage in a fiercely competitive industry.

Like Beveridge, I see incredible potential in wholesale distribution to achieve transformative gains. But as Beveridge’s research has found, the pace of change needs to accelerate: 85 percent of distributors believe they need to reinvent their businesses before someone else does.

To get started, check out Beveridge’s Innovative Mindset Assessment tool and see how your organization scores.

Posted on Tue, September 5, 2017
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Luxury fashion goods wholesaler scales its Hong Kong business with NetSuite OneWorld

og image Luxury fashion goods wholesaler scales its Hong Kong business with NetSuite OneWorld

Lfplaza Grows from a Startup to a $ 300 Million HKD Business Across Southeast Asia in Just Five Years

HONG KONG—August 31, 2017—Oracle NetSuite, one of the world’s leading providers of cloud-based financials / ERP, HR, Professional Services Automation (PSA)</a> and omnichannel commerce software suites, today announced that Lfplaza Group, a wholesale distributor of luxury and designer fashion clothing, bags, shoes and accessories, has scaled its business dramatically since deploying NetSuite OneWorld shortly after its launch in 2012. Based in Hong Kong, the company relies on NetSuite for financials, inventory management, CRM and marketing, as well as multi-subsidiary and multi-currency management for the Hong Kong, Australian and U.S. dollars, Chinese renminbi, British pound, Japanese yen, New Taiwan dollar and the Euro. NetSuite’s unified cloud business management platform has given Lfplaza scalability and agility as its business has soared from the startup phase to $ 300 million HKD (about $ 38.4 million USD) in revenue in just five years.

Starting out, Lfplaza had in place an entry-level accounting system from a Chinese software vendor. After evaluating several competing solutions, Lfplaza quickly settled on NetSuite OneWorld as an ideal fit for its objectives of an integrated system that could support rapid growth. NetSuite OneWorld today powers end-to-end processes for Lfplaza’s sales of goods from more than 100 brands to a network of over 600 wholesale clients and about 40 regional multi-brand boutiques across Hong Kong, mainland China, Taiwan, Japan, South Korea, Singapore, Malaysia, Indonesia, Thailand and Vietnam.

“NetSuite forms the core backbone on which we’ve rapidly grown our business,” said Jack Tsao, Lfplaza CEO. “We’ve been able to scale dramatically without adding too many staff. We’re very glad we started early with NetSuite as it gave us room to grow.”

As a cloud-based system, NetSuite enables Lfplaza to avoid the high capital expenditures of servers and software needed with traditional on-premise business systems. Ease of use, efficient workflows and high visibility into mission-critical data have allowed the 100+-person company to minimise administrative and operational costs and instead focus new hires on revenue-driving sales and marketing activities. Easy access to NetSuite across Lfplaza’s 10 wholesale stores, its head office in Hong Kong and three subsidiaries (Hong Kong, China and Macau) enables the company to ensure staff work from the same set of timely, reliable data.

“The advantages with NetSuite are felt across the business,” Tsao said. “We would be hiring more staff if we didn’t have NetSuite. It’s definitely been a very worthwhile investment.”

Implementation and optimisation by NetSuite Solution Provider Fern Limited, in Hong Kong, has helped Lfplaza make the most of its NetSuite OneWorld solution as usage evolved from inventory to accounting and CRM. Benefits that Lfplaza has realised with NetSuite include:

Real-time inventory management. NetSuite gives Lfplaza real-time visibility into tens of thousands of SKUs, particularly important as new products are constantly added. It also helps Lfplaza account for subtle variations in products, such as shiny vs. matte leather for the same handbag.

Business reporting. Lfplaza makes extensive use of NetSuite’s reporting and analytics capabilities to track revenue and product sales by brand, type of goods, gender, regions and other dimensions. Insights derived are vital to Lfplaza’s ability to adapt the business and product lineup as needed.

Agility in a fast-paced market. NetSuite has helped Lfplaza achieve business agility, better manage brand and customer partnerships, and optimise inventory and pricing in the fast-paced and rapidly changing luxury fashion market.

Multi-currency, multi-subsidiary management. NetSuite OneWorld lets Lfplaza easily transact in currencies including Hong Kong, Australian and U.S. dollars, Chinese renminbi, British pound, Japanese yen, New Taiwan dollar and the Euro, and manage three subsidiaries with efficient financial consolidation.

CRM capabilities. NetSuite CRM gives Lfplaza sales staff a unified record of all customer account, interaction and order history information to help drive sales and provide a superior customer experience.

“The fashion inventory moves very fast, with increasing velocity and sophistication every year,” Tsao said. “With NetSuite OneWorld, it’s very easy to adapt, customise processes and stay current, exploring all the business channels and marketing opportunities out there so we can continue to scale.”

About Oracle NetSuite
Oracle NetSuite pioneered the Cloud Computing revolution in 1998, establishing the world’s first company dedicated to delivering business applications over the internet. Today, it provides a suite of cloud-based financials / Enterprise Resource Planning (ERP), HR and omnichannel commerce software that runs the business of companies in more than 100 countries. For more information, please visit http://www.netsuite.com.

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About Oracle
The Oracle Cloud delivers hundreds of SaaS applications and enterprise-class PaaS and IaaS services to customers in more than 195 countries and territories while processing 55 billion transactions a day. For more information about Oracle (NYSE:ORCL), please visit us at oracle.com.

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Built to Run a Business: NetSuite’s Misunderstood Differentiator

Posted by Paul Farrell, VP of Product Marketing, Oracle NetSuite

A key factor in NetSuite’s success from Day One was the overarching goal of the company. NetSuite was built to run a business. The suite includes many outstanding capabilities, built in from the ground up, including: pure cloud architecture; built-in Business Intelligence; customization framework; ecommerce; and more. These are all incredible capabilities, but its core mission — software built to run a business — has always been a subtle misunderstood differentiator.

Built%20to%20Run%20Image Built to Run a Business: NetSuite’s Misunderstood DifferentiatorIt’s amazing how many other competitive products out there started off with a different focus. That focus was not running a business. They were created to run a sales force, a shop floor, a warehouse, an HR team or the accounts. Then out of this primary goal, many years later, other functions where then shoehorned in, built on foundations that were not fit for purpose. For example, there are several solutions out there that are based on simple sales force automation foundations that morphed into CRM and then finally the rest of the business functionality was added. Their mantra is the customer is the center of everything. However, the way you sell to and interact with your customers may be very different from the way you need to financially structure your business because of geographic or tax constraints. However, if the product was designed purely for financials, the account is at the center of everything, forcing you to sell to customers based on your financial structure. The same can be said for the shop floor, where the work center is the center of everything, or the HR system where the employee is the center, etc.

Users want a system that caters to their role. A warehouse manager wants the system to be based around the product and the warehouse as that is their entire world. Not that they want to forget the customer, or the accounting impact but it is not their focus. A product that is centered around the general ledger or the customer is going to get in the way of doing their job.

With NetSuite, the core of the product puts all the key business functions on an equal footing: Account; Customer; Product; Service; Order; Person. They are all seamlessly linked together in a common business model. Then surrounding that are the industries. There are two distinct types of industries service industries (Software, Service, Financial Services) and product industries (Manufacturing, Distribution, Retail). Again, similar to business functions many solutions started off supporting one type of industry and then morphed in to supporting another. As a result, you get a manufacturing product trying to support the services industry and vice versa. It might functionally work but are users going to enjoy creating works orders, work centers and parts, capture WIP and in general use manufacturing terminology and concepts to run a software installation project. The same can be said for a distribution company using functionality that was built to support the financial services industry. It might eventually work, but it will feel like pushing a boulder up a never ending muddy hill. Companies will spend forever customizing it to try and make it fit. All they end up with is an unsupported system, that no one understands, no one likes and barely does the job. NetSuite was built to run product- and service-based businesses from the beginning. Whatever the business it provides the terminology, workflows and reports needed for that type of company.

Moreover, for hybrid businesses it will simultaneously look as though it were designed to run both depending on what part of the business you sit within.

Businesses are made up of many people carrying out multiple distinct roles. One of the real issues that ERP has had over the years is that many times it is purchased by one group and then forced on the others with the promise of producing consistent information and consistent results. For example buying the product that was originally built for CRM, is great for the sales force, clunky for operations ; and a nightmare for finance. Or the product built for finance is great for accounting, clunky for operations and a nightmare for sales. The result is generally long implementations, budget overruns, massive complex customizations, bolt on systems delivering subpar results and locking customers into a version of the product for years to come. NetSuite was built to run a business: from Day One it was optimized to manage the multiple distinct roles every business has. So, when the controller of a software company logs in it looks like it was just written for them. When the warehouse manager logs in it looks like it was written just for them; when the salesperson logs in it looks like it was built just for them. Even when the customer logs in it looks like it was built just for them. NetSuite users therefore learn the product more quickly, enjoy using the product, leading to faster implementations, quick ROI, better quality of data and more productive effective businesses.

SuiteSucces, recently announced by NetSuite, is a manifestation of all of this. SuiteSuccess was engineered to solve unique industry challenges that historically have limited a company’s ability to grow, scale and adapt to change. Most ERP vendors have tried to solve the industry solution problem with templates, rapid implementation methodologies, and custom code (trying to force that round peg into the square hole). NetSuite took a holistic approach to the problem ensuring every single aspect of the solution and delivery is oriented around the customer’s industry and roles within that industry. There are four pillars to the solution.

1) Build: develop a complete unified suite covering all elements required to run a business.

2) Engage: Leading practices for each industry including all capabilities, workflows, BI, reports, roles required for each industry. Allowing customers from the first sales engagement understand the product and how it will support the business.

3) Consume: A re-imagined consumption model using NetSuite’s industry stairways allows companies to consume capabilities based on their business needs.

4) Optimize: Continuous improvement of all aspects and consumption of the solution.

NetSuite was built to run a business and handle the complexity and variances real businesses encounter. That is why NetSuite is the leading cloud ERP, delivering rapid ROI to its customers with unrivalled referencability within the industries it serves.

If you have a business to run, you should always look to NetSuite.

Posted on Wed, August 30, 2017
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