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

Red Hare

"Besides helping up keep on a sharp growth curve, NetSuite has put us at the top of our field."
Red Hare

Company at a Glance

Location:
Hong Kong
Industry:
Wholesale/Distribution, Consumer electronics, Ecommerce
Applications Replaced:
Microsoft Office Accounting Professional, Excel spreadsheets

Solutions

NetSuite

Customer Success:

  • Since bringing in NetSuite in 2011, Red Hare has quintupled in growth to $75 million in sales expected for 2013.
  • 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 fulfilment 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.