Optics manufacturerNetSuite enables rapid growth leading to IPO
$360K annual savings
on IT development
Faster workflow &
A camera and electronics manufacturer was struggling from a combination of outsourcing and fragmented in-house business software. It needed to adapt quickly to take full advantage of a fast-growing market opportunity.
- Distribution issues
Inability of business software to handle multiple sales/distribution channels had slowed order processing and caused major disruptions in filing customer records.
- Not enough inventory insight
Inventory planning was hampered because reports were essentially delivered just once a month by a third-party logistics vendor.
- Too much manual data entry
Lack of integration between accounting and customer records caused delays in tracking receivables because of process complexities introduced through manual data entry.
The manufacturer chose NetSuite over extending a Salesforce.com instance because the company wanted to integrate the entire customer transaction cycle, something which could not have easily been solved with Salesforce.com add-ons. They chose NetSuite over an on-premise ERP system because of the advantages in cost, reliability, as well as deployment time; NetSuite took just eight weeks.
The company enjoys NetSuite’s SuiteFlow drag-and-drop functionality to customize business processes and workflows without having to hire specialized consultants or engineers.
Since installing NetSuite, the manufacturer has grown revenue by 300% year-over-year, all while adding just two IT/Business Application Analysts. They also realized tremendous cost savings. For example, they are saving approximately $360,000 yearly on IT development, configuration, and customization over the cost of a comparable, on-premise ERP system.
NetSuite’s Partner Portal efficiencies have helped their 75+ outside, third-party brand reps expand the market to lower-volume, specialty market customers, which has already partly accounted for an overall 500% increase in sales order transactions.
An automated order management workflow now processes an order in 30 seconds, compared to 8-to-20 minutes with the previous, disparate set of systems. Integrated inventory management eliminates the two-to-four days it used to take each month to rationalize spreadsheet-based inventory reports. NetSuite’s vendor portal and PO-invoicing frameworks have helped standardize processes and improve relationships with foreign suppliers.
"NetSuite supports our business growth, and benefits our investor and strategic partner relations, with support for financial transparency, information accuracy and regulatory compliance."