Posted by Lisa Schwarz, Director, Ecommerce Marketing
Founded in 1964, The Franklin Mint is renowned as a maker of collectibles such as commemorative coins, die-cast models, games and objects d'art. To grow its customer base, the company strives for excellence in product selection, service and fast, top quality order fulfillment.
But efficiently managing high order volumes in an age of demanding customers and multiple channels can be a challenge. With up to 500 orders a day as well as recurring subscription programs, The Franklin Mint recognized the opportunity to introduce new speed and efficiency in processing orders from both B2C retail customers and B2B wholesale buyers.
“We’re a high volume, high order, 24/7 operation and we can’t afford to be slow or inefficient—we value our customers too much,” said Scott Book, president of The Franklin Mint. “It’s absolutely essential to have a robust order management system that can efficiently handle our volume.”
Several years ago, the company made a concerted push to expand its ecommerce channel, which revealed weaknesses in its order management solution, Dydacomp Mail Order Manager. Mail Order Manager couldn’t scale to growing ecommerce order volumes. Additionally, manual processes hindered employee productivity, introduced needless processing costs and slowed fulfillment.
Moving Order Management to the Cloud After evaluating a number of order management software solutions, The Franklin Mint deployed NetSuite OMX in October 2012. Its rich functionality and automation capabilities elevated the company’s ecommerce and call center order management processes, integrating NetSuite OMX with its Magento web store. With OMX, The Franklin Mint has increased its order management efficiency 25 percent without adding staff.
“We’re performing more efficiently with OMX,” Book said. “Customers are getting their orders faster, and with the automation in OMX it takes us less time to make that happen. It’s made us a better company, and that’s really the bottom line.”
The Franklin Mint takes advantage of capabilities for continuity and retention within OMX to drive recurring sales through several subscription-based continuity programs, including a Presidential Dollars offering with 80,000 customers. Automated workflows to optimize the lifecycle of orders, fulfillment, payments and repurchase have minimized manual work while the company has gained real-time visibility into order status and histories.
“NetSuite OMX is essential to our company both short and long term, on a daily basis and from a strategic perspective,” Book said. “It’s really the backbone of our business.”