Contact:
Mei Li
Senior VP, Corporate Communications
NetSuite Inc.
Phone: 650.627.1063
E-mail: meili@netsuite.com

PRECOR HOME FITNESS SELECTS NETSUITE TO WHIP ITS OPERATIONS INTO SHAPE


SAN MATEO, Calif.—July 20, 2011—the industry's leading provider of cloud-based financials / ERP software suites, today announced that Precor Home Fitness deployed NetSuite for its end-to-end wholesale/distribution business needs. The solution is used for managing business operations across retail and commercial sales throughout the Western United States, including three retail locations in the San Francisco Bay Area and two West Coast commercial locations. Precor Home Fitness depends on NetSuite for financials, inventory management, point-of-sale (POS), quotes, tax management, reporting and analytics. With NetSuite, Precor Home Fitness can open more new locations and become profitable more quickly, thanks to the real-time visibility and efficiency NetSuite provides. The company can also easily analyse the profitability of the retail and commercial operations separately, and monitor the performance of each arm of the business.

Precor Home Fitness, is the American dealer arm for fitness equipment manufacturer Precor USA (www.precor.com). The company focuses on both commercial and retail sales. When Precor Home Fitness expanded to retail sales through acquisition, it standardised on the retail operation's archaic AS/400 system—a decision the company quickly realised would not satisfy its needs.

Within weeks, the severe limitations of the outdated, legacy on-premise software became clear. Reporting was haphasard and remote access was virtually impossible. Even generating simple sales quotes proved extremely difficult. After two months, it was clear that Precor Home Fitness needed a better solution.

Fully leveraging the power of NetSuite, Precor Home Fitness is quickly realising the benefits of cloud computing through NetSuite. The company relies heavily on special orders from the manufacturer—an area where NetSuite's quoting and ordering system excels. Workflows are once again uniform and streamlined, and every employee has full access to crucial business data through the Internet, no matter where they are. As a result, sales and services decisions are more informed with real-time access to inventory data, purchase histories and warranty records.

"Our outside sales reps were absolutely lost on the legacy system and we had no visibility into past purchases or freight activity," said Bill Byrne, President of Precor Home Fitness. "Our hands were so tied by the old software that we couldn't get our work done. Today, with NetSuite, our quotes are faster, our reporting is clearer and our work environment is better. NetSuite was the best move for the growth and long-term sustainability of our company.”

To streamline the conversion of the retail stores' data and ensure that Precor Home Fitness could leverage NetSuite as quickly as possible, the company turned to NetSuite solution provider Explore Consulting for assistance. Explore Consulting was able to quickly translate SKU and customer data from the AS/400 system into NetSuite, enabling both commercial and retail sales to standardise on NetSuite in just 30 days. "Our consultants were able to quickly break down Precor Home Fitness's complex inventory into groups and classes and ensure a clean, rapid transition back to NetSuite," said Jeremy DeSpain, COO and Partner, Explore Consulting.

Today, more than 10,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes in the cloud globally. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-class cloud ERP solutions for divisions of large enterprises and mid-sized organisations seeking to upgrade their antiquated client/server ERP systems. As the leading provider of cloud-based solutions for wholesale distributors and retailers, NetSuite's solution 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 financial management systems vendor in the world, NetSuite has continued its success in delivering the best cloud businesses solutions 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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For more information about NetSuite, please visit www.netsuite.co.uk.

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