So let me take a second, and just make sure you get to actually know who we are. NetSuite has been around since 1998 and since our founding our focus has been on offering a complete business management solution allowing you to run your entire business in the cloudWe’ve been public since 2007 andexperienced dramatic and consistent growth since our founding.We are the largest fully integrated public saas company operating across the world with over 190 million in revenue and over a 1000 employees. But the most important thing is that over 10000+ organizations trust NetSuite to run their mission critical applications and for 3 years in a row we have been named the fastest growing financial management solution by Gartner. As the #1 cloud business suite, Netsuite offers a complete solution including ERP, CRM, Ecommerce all built on a single unified platform. I’ll talk more about the offering later but we’ve been recognized over and over again for having the leading solution in the market – whether its SIIA naming us as the best financial management solution for 2011 or the Institute of Management Accountants naming us a leading solution in the market – NetSuite’s solutions are recognized as world class by the market and the industry. we are widely recognized as the most developed & complete cloud-basedbusiness management suite in the wholesale distribution industry today
As a result though of this hairball, companies face real business issues. Disconnected systems that don’t talk to each other result in an incomplete business view where sales doesn’t really understand what’s available to sell and the books don’t reflect the true state of the business as orders have to be updated manually. All of this results in a lot of business complexity and ultimately inefficiency. Without timely, necessary info, the business isnt able to make decisions about the business and results in unsustainable, unnecessary costs. An unfortunate reality for many that is critical to address when margins are thin and getting even thinner.
Through Netsuite’s cloud-based business management suite, we enable the 21st century wholesale business. Providing a complete business view across the entire business in real-time allowing you to make decisions based on the entire business. We enable companies with streamlined dynamic processes going across the company from finance to sales to marketing to inventory providing for the 21st century wd business to operate in today’s ever-changing environment. And through anytime, anywhere access, netsuite can be accessed from your browser from any computer, mobile phone or tablet computer. And by providing a low cost of operations wholesale distributors can ensure that they can maintain or improve razor thin margins.
As NetSuite built out our solution key for us was to ensure that we focused on the elements that satisfied the needs of wholesale distribution companies. Starting with the running the business – NetSuite has been designed to support all business processes including integrated shipping, ecommerce and self-service. Key to most WD businesses is ensuring profitable growth and as such, the netsuite solution integrates demand with inventory while reducing IT expenses and providing effective pricing and cash management. In ensuring that WD businesses can effectively manage inventory, NetSuite incorporates functionality to enable effective demand planning, turnover management and even vendor management. As a WD business you already know that the customer is critical to the business and NetSuite enables you to focus on the customer, by providing a 360 degree view of the customer and allowing you to focus on renewals and retention while understanding who are your most profitable customers and products. And last but not least, NetSuite wants to allow you to focus on your strategic business goals by providing real-time dashboards, complete information about your business and industry best practices.
NetSuite provides a complete Wholesale and Distribution Suite all delivered in the cloud allowing you to focus on all aspects of the business, while also excelling at the critical area of inventory and order fullfillment. NetSuite customers leverage the power of Netsuite to run their entire multi-location business with intelligent order replenishment, drop shipping, landed costs and the complete procure to pay process. Key of course is it not just for small wholesale distributors, NetSuite is scalable for large wholesalers and distributors as well including thousands of customers who manage multiple locations, hundreds of customers who manage tens of thousands of skus and customers maintaining over 250,000 items in the system.
And for customers that need to extend NetSuite or connect to existing systems, NetSuite is easily extended through a comprehensive partner network providing advanced functionality where appropriate.
But don’t’ just take our word for it, In an independent study conducted by Nucleus Research and over 20 wholesale distribution companies, they discovered that Netsuite delivers real tangible benefits for WD companies.For example, in the area of inventory management NetSuite enabled companies to reduce their overall inventory carrying costs by 15 to 30 percent. Real-time visibility into stock helped customers manageinventory to reduce write-offsIn terms of margin improvements - Visibility into pricing, availability, and demand, and the ability to quickly make price adjustments by product or class, enabled customers to actively manage margins, both in purchase negotiations and salesNetSuite also enabled customers to improve efficiencies in customer service by an average of 30 percent; And in the area of sales, NetSuite enables customers to increase sales without additional staff resources, accelerate pipeline anywhere from 30-50 percent and develop new channels such as ecommerce.Last but not least, NetSuite enabled customers to improve sales productivity by an average of at least fifteen percent.
NetSuite has delivered success for hundreds of wholesale distributors – for example, Eleanor Keare from Circle of Friends - I can really appreciate that with NetSuite, we don't have to go through a lot of separate, repetitive processes to conduct business…”Orgeorge bowie, director of 2pure – who says Our turnover increased by 95% last year and NetSuite has been a key component in supporting that growth.”Or jim hunt the owner of Olive Sandwiches who says In the past five years, we've gone from ‘just a hobby’ to now wholesaling products in over 3,000 stores, distribution around the world, and a growing online retail business - and we couldn't have done it without NetSuite.”
Can NetSuite help your Wholesale Distribution business? I appreciate you taking the time today to learn a little more about NetSuite. Please feel free to click on the link to learn more.Thanks.