SAN JOSE, Calif. and
SYDNEY, May
18, 2016 /PRNewswire/ -- NETSUITE SUITEWORLD
2016 -- NetSuite Inc. (NYSE: N), the industry's leading
provider of cloud-based financials / ERP and
omnichannel commerce software suites, today announced that the
Lingerie Company of Australia, a
leading luxury lingerie wholesaler and retailer who represents
Simone Pérèle and Implicite brands, has deployed NetSuite in
Australia and New Zealand to better manage its business
operations and support its vision for B2B and B2C business growth
in the region. NetSuite OneWorld replaced several legacy systems,
including Solemate and MYOB for accounting, to manage its core
business processes, including financial consolidation across its
head office, wholesale business and 13 retail stores in
Australia, customer relationship
management (CRM), point of sale (POS), demand and supply planning,
inventory management, order management, warehouse management,
invoicing, payroll and multicurrency management for the Euro, US,
Australia and New Zealand dollar.
Lingerie Company of Australia,
a wholly owned subsidiary of the Simone Pérèle Group, has been
in operation for 25 years, and today is one of the global brands'
largest operations outside of its headquarters in France. From its warehouse in Victoria, Australia, the company supplies the
Simone Pérèle brand to over 120 wholesale accounts, Smith &
Caughey's in Auckland, New
Zealand, Ballantynes in Christchurch, New Zealand, and 13 of its own
retail stores across Australia. In
addition, Lingerie Company of Australia has a brand-exclusive relationship
with one of Australia's largest
department stores, David Jones,
which has grown from occupying a single rack to now being the only
lingerie brand stocked across all 40 David Jones' ANZ
locations.
In July, Simone Pérèle plans to enter into concession
relationship with David Jones,
establishing a direct selling model in each department store where
it will become solely responsible for inventory management and
staffing. In order to support this move, Lingerie Company of
Australia expects to rely
increasingly on NetSuite OneWorld to provide accurate stock
visibility across its 20,000 SKU's and to help deliver enhanced
customer service.
"A challenge we're currently facing is to ensure we're ahead of
the industry shift away from pure wholesaling and toward 'own'
retailing," said Tim Rosenfield,
CEO, of the Lingerie Company of Australia (Simone Pérèle ANZ). "The new
concession agreement with David
Jones is a perfect step to help achieve our business growth
objectives; however, it is also adding a whole new layer of
complexity. In order to manage this change, we need a robust
inventory management system and NetSuite OneWorld can give this to
us."
As part of the company's shift toward direct selling, Lingerie
Company of Australia recognised
that it needed to upgrade its customer relationship management
(CRM) capabilities. Despite having over 200,000 Australian
customers in its loyalty program, many contact details
were inaccurate, and the lack of ERP integration made it
difficult to get a single view of the customer. With NetSuite
OneWorld, the company can now access and analyse each customer's
complete transaction history and turn this data into customised
engagement. It can track what customers are buying and engage with
them through tailored email marketing, whether offering
complimentary items or communicating special deals with high value
customers. Lingerie Company of Australia also has future plans to use
NetSuite's powerful development platform to further automate this
tailored communication with its customers.
"As a business, we can now engage with our customers in a much
more meaningful way, and this largely has to do with how we obtain,
analyse and manage our data," Rosenfield said. "Being able to offer
our customers items based on their purchase history and engage with
them in a way that makes them feel valued, is crucial to our
business. To ensure we are providing the best level of service to
our customers, we also need a responsive stock analysis system to
offer the desired items to our ANZ customers in a timely
manner."
The rising cost of doing business in Australia and New
Zealand is another concern for Lingerie Company of
Australia. In order to maintain
its warehouse in Brunswick, Victoria, it needs to maximise efficiencies
across the business, and this requires clear visibility of
financial performance. With its legacy system, Lingerie Company of
Australia previously had no
insight as to how it was performing until profit and loss
statements were received at month's end.
NetSuite OneWorld supports 190 currencies, 20 languages and
automated tax compliance in more than 100 countries, and
transaction in more than 200 countries. Since implementing NetSuite
OneWorld, Lingerie Company of Australia has experienced the following
benefits:
- More efficient and
accurate inventory and delivery management: Lingerie Company of
Australia's inventory and delivery
management was previously cumbersome and ineffective as it relied
on manual data entry, with only select employees having visibility
of stock arrivals and product performance. With NetSuite OneWorld,
stock performance and delivery reports can now be viewed on a daily
or per transaction basis, allowing the business to identify the
cost of different stock items and better optimise their
distribution across the business.
- Financial transparency
that allows action: With NetSuite OneWorld, Lingerie Company of
Australia can view performance
figures daily and make adjustments accordingly through initiatives
such as promotions, changes to shipping schedules and adjustment of
staff hours.
- Visibility turns to
profit: For the two years it had been open, one of the
organisation's Australian stores was unable to turn a profit, and
given the lack of visibility into stock performance and financials,
the reason could not be identified. NetSuite OneWorld helped
Lingerie Company of Australia
analyse transactions and gross margins and after making changes to
the stock offering, the store turned a profit within two
months.
- Effective stock
management: Lingerie Company of Australia can now more effectively analyse
efficient vs. inefficient stock to the benefit of the business. It
is also undertaking a large project to increase stock turns by
utilising the help of sales reports, stock on hand and delivery
management.
- More efficient warehouse
management: Prior to NetSuite OneWorld, Lingerie Company of
Australia did not use any
sophisticated warehouse tools. It now has the ability to track cost
of shipping per box to streamline efficiencies.
- Integrated POS
system: NetSuite's POS solution is a vast improvement on the
previous legacy system. Now that all transaction data is captured
within NetSuite, Lingerie Company of Australia is able to analyse data in real-time
to understand where further efficiencies can be gained.
- Easily operate in
multiple currencies: Through NetSuite OneWorld, the ANZ
subsidiary of the Simone Pérèle Group is able to easily pay its
global parent company in local currencies, USD and Euro when
invoices are received.
- Reduced IT costs and
complexity: NetSuite's proven, secure cloud solution has helped
significantly reduce the need for Lingerie Company of Australia to allocate time and additional
budget to managing, maintaining and upgrading its business critical
applications.
Today, more than 30,000 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 cloud-based
financials/enterprise resource planning (ERP) and omnichannel
commerce software applications for businesses of all sizes. Many
FORTUNE 100 companies rely on NetSuite to accelerate innovation and
business transformation. NetSuite continues its success in
delivering the best cloud business management software to
businesses around the world, enabling them to lower IT costs
significantly while increasing productivity, as the global adoption
of the cloud accelerates.
For more information about NetSuite please visit
www.netsuite.com.au.
Follow NetSuite's Cloud blog, NetSuite's Facebook page and
@NetSuiteAPAC Twitter handle for real-time updates.
NOTE: NetSuite and the NetSuite logo are service marks of
NetSuite Inc. Third-party trademarks mentioned are the property of
their respective owners.
Logo -
http://photos.prnewswire.com/prnh/20090924/SF81218LOGO-b
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/lingerie-company-of-australia-chooses-netsuite-oneworld-to-fuel-business-model-innovation-300270901.html
SOURCE NetSuite Inc.