New Zealand Beauty Products Manufacturer Experiences Significant Revenue Growth Since Deployment
NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced The Beauty Collective, a New Zealand-based manufacturer, designer and distributor of some of the world's leading beauty and personal care products, has deployed NetSuite to modernise its core business processes and support its dynamic growth. The company replaced Sage Line 50 with NetSuite to power its financials and reporting, order management, third-party warehouse partnerships, inventory management, manufacturing and shipping – all from within one unified cloud-based business management platform. Since deploying NetSuite, The Beauty Collective has significantly expanded its operations, resulting in a 168 percent increase in revenue.
The Beauty Collective supplies and distributes its product range to more than 3,000 stores in the four countries, including some of the largest retailers in the world such as TJ Maxx (US), Boots (UK), David Jones and Woolworths (Australia). Its brands, which include TL+C, Argania, Via, Drop, Every Man Jack and Carmex, are designed and developed in New Zealand, manufactured in China and warehoused in Auckland, Sydney and London. Within New Zealand alone, it distributes to approximately 85 percent of all pharmacies, farmers stores, independent department stores and supermarkets.
The Beauty Collective's previous Sage on-premise solution could no longer keep pace with its rapid business expansion and significant increase in its brand and product range. The lack of multiple inventory functionality caused major disruptions, resulting in disruptive inventory confusion between its warehouses in three different countries and slow order processing due to its inability to handle multiple distribution channels. The beauty manufacturer needed a scalable solution that would streamline its business efficiencies and give it real-time control over its entire operation and inventory.
"NetSuite was a stand-out because of its current affordability and future scalability," said Tim Cunningham, CEO of The Beauty Collective. "NetSuite has the functionality to support the diversification of our business and the introduction of new product lines and we can quickly and easily add functionality as required. Put simply, we would not have been able to power our growth without NetSuite."
The Beauty Collective has streamlined its core business processes and improved operational efficiency since implementing NetSuite. Benefits include:
- Real-time financial management visibility - NetSuite's financial management capabilities have enabled The Beauty Collective to accelerate financial close periods and has given complete and real-time visibility into its financial performance from anywhere in the world. Fully integrated into The Beauty Collective's separate sales and CRM systems, as well as its clients' retail POS solutions, the company can now work from a single source of finance, sales and customer data.
- Enahnced business management insights - The Beauty Collective runs all required business management reports from NetSuite. This has significantly strengthened its business intelligence capabilities, as the real-time analytics it provides on financial and business data enables faster and better decision-making at the C-level. It has also substantially reduced the time spent on administration, as reports are no longer manually created.
- Boosted sales performance - NetSuite enables the manufacturer to tightly manage, monitor and react to KPIs across the enterprise. The sales team and brand managers are now provided with weekly information on how sales are performing to budget. This enables wins, problems and bottlenecks to be quickly identified and addressed, which has enhanced sales intelligence and performance across the entire brand portfolio.
- Superior inventory management - Prior to implementing NetSuite, The Beauty Collective had to produce laborious Excel spreadsheets that would be distributed to its 3PL providers to cross-check stock levels. This resulted in significant time spent preparing reports and investigating discrepancies. NetSuite's inventory management and demand planning capabilities now provide full visibility over its 2,000 SKUs for faster dispatch. It delivers flexibility and control in setting timeframes, preferred stock levels and other parameters, while offering built-in functionality to help streamline and automate select tasks.
- Significant manufacturing operation efficiencies - NetSuite enables The Beauty Collective to manage the full range of core manufacturing activities, such as controlling the assembly of products, creating inventory products from raw materials, assembling inventory kits, calculating item costs and compiling material lists. This has been critical for The Beauty Collective as it transitioned from importing complete products to manufacturing using components from multiple suppliers. Before implementing NetSuite, it had a labour intensive product code system in place that did not sufficiently support the ensuring expansion of its product range.
According to Mark Troselj, Vice President and General Manager, NetSuite ANZ, "The Beauty Collective demonstrates how NetSuite's scalable and agile platform can intelligently and affordably support growth. NetSuite has enabled the manufacturer to transform its core business processes and facilitate geographic and product diversification, whilst streamlining and reducing costs. By managing these complex processes entirely in the cloud, the management team can access real-time financial data and insights 24/7 wherever they are in the world."
Today, more than 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-ready cloud business management suites of enterprise resource planning (ERP), customer relationship management (CRM), and ecommerce applications for businesses of all sizes. Many FORTUNE 100 companies rely on NetSuite to accelerate innovation and business transformation. NetSuite continues its success in delivering the best cloud business management 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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