NetSuite OneWorld Helps Retailer Grow 60%, Streamline Key Business Processes

"With just our Website and a single retail store, we weren't able to tell what was in stock and what wasn't. With NetSuite, we can now rely on real-time inventory information across multiple warehouses and, in the future, multiple retail stores, so we no longer have to worry about our future growth with NetSuite."

—Plex Pty Ltd.

Results:

Integrated, synchronized accounting, CRM, and Website software has helped Plex Pty grow by 60% while increasing staff by just 10%
Automated inventory control and real-time visibility have helped the company grow its product skus from 2,500 to 8,000, and its held-inventory value from $1,000,000 to $3,000,000
Improved inventory controls have helped reduce the time between receiving and order and shipping by 75%
Plex Pty estimates that its improved inventory efficiency has increased inventory turnover by 30%
The company is now able to ship 600–plus orders per day, compared to a maximum of 150 previously
Website sale conversions have doubled with NetSuite, and cart-abandonment rates have decreased from 25% to 10%
NetSuite's customer-behavior analytics are saving the company $5,000 per month over the costs of program development previously necessary to track and analyze customer behavior
Product availability inquiries from customers are now handled instantly, compared to taking 10 minutes or more with the old system

Challenges:

Disparate software, lack of inventory visibility prevented Plex Pty from taking advantage of growth opportunities
Manual data transfers between the company's custom Website and its accounting software wasted time and slowed order processing
The need for manual inventory checks reduced the company's responsiveness to customer inquiries, risking customer dissatisfaction
Inventory slowdowns prevented the company from expanding its inventory or taking on new products

Solution:

NetSuite partner Onsite provides POS terminals for the company's retail store
NetSuite's multi-currency, multi-tax features will help streamline accounting as Plex Pty opens new retail stores outside of Australia
Thanks to Netsuite's integrated inventory controls, the company has been able to grow from 1 location
to 3