NetSuite Helps Consumer Electronics Wholesaler Double Sales, Cut Costs, and Leverage Market Opportunity

"Besides helping up keep on a sharp growth curve, NetSuite has put us at the top of our field. We're no longer an Excel-based startup; now we're able to compete on a global level, and compete on volume as well as margins."

—Red Hare

Results:

Since bringing in NetSuite, Red Hare has doubled its growth to $30 million in sales without adding any IT staff
Company saved $65,000 over the cost of on-premise business software, and saves additional costs by re-allocating employees from time-consuming spreadsheet maintenance chores
Red Hare has reduced on-hand inventory needs by two-thirds by using inventory re-order automation, freeing up space to add to product variety without adding storage cost
End-of-quarter financial reconciliation now takes four minutes, compared to approximately 50 hours with the previous system.

Challenges:

Consumer electronics wholesaler wanted to take advantage of fast-growing demand for gray-market products by online retailers, but had to keep margins razor thin
Spreadsheet-based pricing, order, and inventory calculations wasted employee time, created data entry bottlenecks, and caused pricing inaccuracies
Shipping errors caused by manual data entry required the company to take expensive write-downs to avoid risking customer dissatisfaction.

Solution:

Rather than upgrade to Microsoft Dynamics, Red Hare brought in NetSuite ERP, CRM, and Ecommerce
Advanced inventory automation lets the company produce additional revenues by offering third-party fulfillment services, where Red Hare stocks its suppliers' inventories
Easy-to-use Website-building tools helped Red Hare, which formerly took orders by fax and phone only, experiment with online ordering to broaden customer appeal
Company used NetSuite partner ONE Consulting Services for implementation and customization services.