Thrive Market Outgrows QuickBooks, Scales with NetSuite

Thrive Market is a membership ecommerce platform on a mission to make the world's highest quality natural and organic products affordable for every American family. For $60 per year, Thrive Market members get access to their favorite natural snacks, supplements, home, beauty and baby products at 25–50% of retail, shipped direct to their door for free. Each paid membership on the site also sponsors a free membership for a low-income family. Thrive Market recently raised $111 million in funding.

The QuickBooks accounting system it launched the business on could not keep up, limiting visibility and introducing inefficiencies that threatened to stifle business growth.


Thrive Market

Company

Thrive Market

Location

Los Angeles, Calif.

Industry

Retail

Employees

500

NUMBER OF USERS

20

SYSTEM REPLACED

QuickBooks

OTHER SOLUTION CONSIDERED

Intacct

NETSUITE PRODUCT IMPLEMENTED

NetSuite

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“You can run your entire business on NetSuite, but one of the things I liked was we were able to implement on our timeline because of the flexibility of the product.” Bryan Wolff, CFO, Thrive Market

Unified System Transforms Operational Efficiency

Rapid growth demands system overhaul
With limited visibility into inventory and data spread across Excel spreadsheets and QuickBooks, Thrive Market knew that it would need to upgrade its systems to continue to support its growth trajectory. After evaluating a number of platforms, Thrive Market chose NetSuite for its flexibility, integration tools and financial and inventory functionality.
Real-time visibility and controls
With NetSuite as a unified source of data, Thrive Market has real-time visibility into inventory at its two distribution centers, which process tens of thousands of orders per day. It now has efficient invoicing, robust financial controls and detailed reporting into the true costs of goods.
Phased deployment simplifies the complex
A phased implementation allowed Thrive Market to deploy NetSuite at its own pace while introducing financial processes that helped it prepare for the aforementioned recent financing. Thrive Market recently began leveraging NetSuite’s SuiteCloud development platform to connect their HighJump warehouse management software through Ebridge’s EDI connector.

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