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

Plex Pty Ltd.

"We no longer have to worry about our future growth with NetSuite." Plex Pty Ltd.

Company at a Glance

Location:
Stanmore NSW, Australia
Industry:
Retail, Bicycles
Applications Replaced:
MYOB

Solutions

NetSuite OneWorld

Customer Success:

  • 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 one location to three.