Leading Australian Retail and Franchise Store Brand to Deploy NetSuite to Streamline Operations and Gain a Single View of the Customer
NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERPand omnichannel commerce software suites, today announced that Colette by Colette Hayman (‘Colette’), an Australian fashion handbags and accessories brand, has selected NetSuite OneWorld to transform its rapidly expanding international operations. With its head office in Australia, Colette plans to run its business operations on NetSuite’s single unified cloud platform, replacing the company’s point-of-sale (POS) systems in 111 wholly-owned stores across Australia, core ERP and Financial applications at the company’s head office as well as a number of Excel spreadsheets and home-grown applications. With NetSuite OneWorld, Colette will run financial consolidation, inventory management, order management and warehouse management for seven subsidiaries across six countries (Australia, China, New Zealand, Singapore, South Africa, and United Arab Emirates) in four different currencies (Australian Dollar, New Zealand Dollar, Singapore Dollar and United Arab Emirates Dirham) and POS across Australia. The company will also use NetSuite OneWorld for tax compliance in Australia, where it has wholly-owned retail operations.
Accelerated International Expansion Requires Core Business Software Platform Change
Colette was founded in Australia in 2010 by Colette Hayman to provide a range of stylish and affordable accessories, handbags and jewellery to consumers. The company has grown exponentially and has a head office and 111 wholly-owned retail stores in Australia, an Australian B2C ecommerce store that ships internationally, two warehouse distribution centres in Sydney, Australia and Shenzhen, China and franchise retail stores in New Zealand (five stores), Singapore (four stores), South Africa (five stores) and the United Arab Emirates (two stores). Colette will open additional franchise stores in South Africa and Saudi Arabia this year, with an additional 10 franchise markets planned over the next few years in Thailand, Malaysia, Indonesia, Kuwait, Lebanon, Jordan, Qatar, Egypt, Bahrain and Oman, as well as expansion into the UK and the US with its own, wholly-owned retail stores.
With its previous business systems, Colette was ill-equipped to sustain its rapid international expansion. The company struggled to consolidate data and integrate new markets as it expanded its business, having to invest considerable human resources and time when rolling out new franchise stores. Similarly, Colette’s in-house purchasing system was designed to manage an Australian-only business and did not adequately support multi-country and multi-currency transactions, while its previous POS system was not flexible enough to be rolled out quickly outside of Australia, particularly in relation to the U.S. and the UK where the company plans to expand its business. As both a wholly-owned retailer and franchise operator in the fast-paced fashion industry, it is important for Colette to gain real-time visibility across all of its operations and distribution centres to accurately monitor and analyse the performance and stock levels of its 5,000 SKUs, which had previously been both challenging and time consuming. To support its expansion plans, Colette needed a cloud -based, retail management platform that was customisable at low cost, was scalable and provided real-time visibility across financials and POS.
After evaluating a number of on-premise and cloud software solutions, Colette selected NetSuite – a true enterprise-class cloud business management suite provider – to replace the company’s financial application and ERP at its head office and POS systems in 111 stores across Australia, along with numerous in-house spreadsheets and applications. By deploying NetSuite’s POS system, Colette will move from a manual system to an automated platform, gaining the agility, flexibility and scalability that it needs to expertly manage its growth and gain a 360-degree view of its customers across all channels and geographical locations. Previously working with systems that produced fragmented and error-prone data, Colette can now be confident that NetSuite OneWorld will provide data integrity and real-time insight across its entire business.
“NetSuite has a rich suite of features that will give us critical business intelligence and customer insights to drive our performance as we continue to expand into new geographical territories,” said Steven Hill, Chief Financial Officer at Colette by Colette Hayman. “It is rare to find a single, unified retail solution that also allows easy and cost-effective customisation to precisely suit the needs of an individual business.”
The single platform with NetSuite OneWorld and NetSuite POS will provide Colette with the following key features and benefits:
- Real-time analytics and business intelligence. NetSuite’s dashboards will provide Colette with reporting and analytics tools to enable the company to better monitor, report and analyse store performance in real time and drive informed business decisions for both its own stores and its growing network of franchisees.
- Scalable international expansion. NetSuite OneWorld will allow Colette to rapidly enter new markets with its wholly-owned retail and franchise stores without the need for additional costly infrastructure development or technical personnel, saving costs on hardware and headcount.
- Multi-franchise management. Colette will be able to easily manage, aggregate and support all of its franchisees across international markets in an automated fashion and gain real-time visibility into their business performance. Currently, it is a labour-intensive process to get a clear view of performance.
- Superior order and inventory management. NetSuite OneWorld will enable Colette to more efficiently and automatically manage inventory and fulfilment from its Australia- and China-based warehouse distribution centres to its international operations. Colette expects to thereby reduce order backlog and carrying costs, which will in turn improve fulfilment.
- Single view of the retail customer. NetSuite’s POS and CRM functionality will capture Colette’s customer data and seamlessly integrate with its third-party social media platform and loyalty solution.
- Built-in disaster recovery. As a cloud-based system, NetSuite offers Colette both peace of mind that critical business systems will be protected in disaster situations and considerable cost savings. Previously with its on-premise mix of systems, Colette’s plan for a disaster management program required a six-figure investment.
“If we attempted to move into new markets with our old IT system, it would take considerable time and cost several hundred thousand dollars in infrastructure and technical consultants,” said Colette’s Hill. “NetSuite is entirely scalable so it will grow with us as we continue to establish our global retail and franchise presence at a pace that makes sense for the business. We will no longer be held back by our technical systems and processes.”
According to Mark Troselj, Vice President and General Manager for ANZ at NetSuite, “International retail and franchise businesses like Colette are increasingly turning to flexible cloud-based solutions that can support and accelerate their entry into new international markets in a cost-effective and efficient way. Gaining real-time visibility into a multi-currency, multi-location business from anywhere in the world can significantly improve business agility and performance and is truly transformative for rapidly growing enterprises.”
Today, approximately 24,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-class cloud ERP suites for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. NetSuite continues its success in delivering the best cloud ERP/financial suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.
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