NetSuite Helps Manufacturer Grow 300% While Expanding Market and Attracting Strategic Investors

GoPro

"Not only does NetSuite support our business growth, but it also benefits our investor and strategic partner relations, with its support for financial transparency, information accuracy, and regulatory compliance. This is incredibly important because it takes strong partners—as well as customers—to maintain a high growth rate." GoPro

Company at a Glance

Location:
San Mateo, CA
Industry:
Ecommerce, Manufacturing
Applications Replaced:
QuickBooks, Salesforce.com, SMB-oriented, SaaS-based Ecommerce platform

Solutions

NetSuite OneWorld

Customer Success:

  • Since installing NetSuite, GoPro has grown revenue by 300% year-over-year, all while adding just two IT/Business Application Analysts.
  • The company is saving approx. $360,000 yearly on IT development, configuration, and customisation over the cost of a comparable, on-premise ERP system.
  • NetSuite's Partner Portal efficiencies have helped GoPro's 75+ outside, third-party brand reps expand GoPro's market to lower-volume, specialty market customers, which has already partly accounted for an overall 500% increase in sales order transactions.
  • Automated order management workflow now processes an order in 30 seconds, compared to 8-to-20 minutes with the previous, disparate set of systems.
  • Integrated inventory management eliminates the two-to-four days it used to take each month to rationalise spreadsheet-based inventory reports.
  • NetSuite's vendor portal and PO-invoicing frameworks have helped GoPro standardise processes and improve relationships with foreign suppliers.

Challenges:

  • Combination of outsourcing and fragmented in-house business software prevented GoPro from taking full advantage of a fast-growing market opportunity.
  • Inability of business software to handle multiple sales/distribution channels had slowed order processing and caused major disruptions in filing customer records.
  • Inventory planning was hampered because reports were essentially delivered just once a month by a third-party logistics vendor.
  • Lack of integration between accounting and customer records caused delays in tracking receivables because of process complexities introduced through manual data entry.

Solution:

  • GoPro chose NetSuite over extending a Salesforce.com instance because the company wanted to integrate the entire customer transaction cycle, something which could not have easily been solved with Salesforce.com add-ons.
  • The company chose NetSuite over an on-premise ERP system because of the advantages in cost, reliability, as well as deployment time—go-live with NetSuite took just eight weeks.
  • Company uses NetSuite's SuiteFlow drag-and-drop functionality to customise business processes and workflows without having to hire specialised consultants or engineers.