NETSUITE'S THE TOAST OF WINEMARKET'S RAPID GROWTH
NetSuite's SuiteCloud Enables Easy Integration of NetSuite OneWorld with Facebook, eBay and Spreets
Supports Multi-Channel Sales Growth
Sydney, November 15, 2011— NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced that NetSuite OneWorld has been a key driver of the Australian online wine retailer, WineMarket's hyper growth and business expansion. WineMarket replaced four software systems including Volution for ecommerce, QuickBooks for accounting, Constant Contact for CRM, and Stone Edge for order fulfillment and inventory management, with NetSuite OneWorld to manage its entire business lifecycle from financials, ecommerce operations, to customer support and service. WineMarket has continued its strong growth trajectory and expansion into multi-channel sales in 2011 by integrating new eBay and Facebook storefronts into NetSuite OneWorld via NetSuite's powerful SuiteCloud development platform. It has also integrated regular online marketing campaigns with group buying sites like Spreets and Our Deal into the platform. As a result, WineMarket estimates 11 percent of its inventory turnover now comes from third-party retailers.
WineMarket is an online clearinghouse for discounted quality wines, which was acquired by Woolworths along with its sister company Cellarmasters in April 2011. The Barossa Valley-based wine merchant sold approximately 200,000 cases of wine in 2010, increasing significantly to nearly 300,000 already in 2011, a 50 percent sales increase year-to-date.
WineMarket outgrew its previous software systems after the company experienced a number of challenges. The manual order processing was error-prone and slow; the website was difficult to navigate and caused customer conversions to fall and cart abandonment to rise; and the outsourced call centre created customer service slowdowns that risked alienating customers. WineMarket turned to NetSuite OneWorld to eliminate those challenges. As the company's growth accelerated with NetSuite OneWorld, WineMarket began investigating eBay and Facebook shopfronts and group buying website marketing opportunities early this year. NetSuite OneWorld's ability to easily absorb third party data was a critical factor in the wine retailer's decision to expand. Using NetSuite's SuiteCloud development platform, NetSuite's partner Online One provided WineMarket with a solution for importing orders from eBay, Facebook and third-party group buying sites into NetSuite OneWorld.
"NetSuite OneWorld can support an almost infinite number of distribution channels including third parties, enabling us to expand into new markets with only minimal additional costs. Adding new stores is almost as easy as clicking Lego blocks together," said Jeremy Harris, head of marketing and operations for WineMarket.
As NetSuite's first Australian ecommerce customer to launch third party outlets with integration into NetSuite OneWorld, WineMarket launched shopfronts on eBay in March 2011 and Facebook in July 2011, and ran its first online group buying campaign in September 2010 with Spreets. This equates to selling approximately 25,000 bottles of wine a month. In addition, orders on its Facebook storefront have doubled every three weeks since it's July 2011 launch, as more customers took advantage of discounts they receive if they 'like' or 'share' a wine deal with their contacts, which further grows WineMarket's customer base.
Mr. Harris attributes its speed of growth to the integration of its online and call centre distribution channels and financial systems with NetSuite OneWorld. "As soon as we switched to NetSuite, the WineMarket brand took off. NetSuite OneWorld enables us to provide customers with a rapid product turnaround and quality brand experience that is vital to competing in this crowded market. NetSuite's full automation of sales, distribution channels and financials also means we can manage business growth as it comes, and easily handle steep sales spikes when we run special promotions."
NetSuite enables WineMarket to centralise all customer, product and transaction data across its online and call centre channels, freeing staff from manually inputting customer orders. WineMarket also improved its browser shopfront, increasing website conversions by 50 percent, as well as its call centre CRM processes, reducing call waiting times from 45 to 11 seconds and achieving a first-call resolution rate of 95 percent. With its previous outsourced system, every call required a callback. Additionally, NetSuite OneWorld's dashboards provide WineMarket with real-time visibility of key operating information, giving it all it needs to optimise marketing campaigns and company growth.
Mark Troselj, managing director of APAC for NetSuite, said: "WineMarket is a classic NetSuite success story. By investing in the NetSuite OneWorld solution that could grow with them, WineMarket has been able to build a solid and growing customer base in a highly competitive online market in a few short years. We look forward to continuing to work with it as it moves into this next phase of expansion."
Today, more than 10,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-class cloud ERP suites for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations, as demonstrated by the 2011 CODiE Award for Best Financial Management Solution, as well as a recent Gartner study naming NetSuite as the fastest growing top 10 financial management systems vendor in the world. NetSuite has continued its success in delivering the best cloud business suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud is accelerating.
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