Wednesday, May 22, 2024

NetSuite reveals cloud journey of new global customers

At its recently concluded SuiteWorld 2023 conference held in Las Vegas, tech firm NetSuite shared the cloud journey of some its newest customers which included global brands such as TGI Fridays and Manolo Blahnik.

TGI Fridays is working with NetSuite to consolidate financial processes, increase efficiency, enhance cash flow, and improve decision-making across its global chain of restaurants, including those in the Philippines.  

Founded in New York City in 1965, TGI Fridays was the world’s first casual bar and grill and has since grown to include more than 700 restaurants in more than 50 countries.

As Fridays grew and its internal operations and financial processes became increasingly complex and costly to manage, it chose NetSuite as its enterprise resource planning (ERP) system.

“The restaurant industry is highly competitive. That’s why we need real-time data on our business performance to respond to changing customer behaviors,” said Jeff Moran, vice president of accounting at TGI Fridays.

“With NetSuite, we have consolidated financial processes and embraced automation to improve the speed and accuracy of business insights as we grow – with product offerings and locations around the globe.”

With NetSuite, Fridays said it has been able to gain real-time insights into its operations, enhance cash flow, and improve decision-making by centralizing its financial processes on a single cloud business suite.

To further optimize its financial processes, Fridays has taken advantage of NetSuite to automate and improve the efficiency of its accounting functions including accounts payable, accounts receivable, and general ledger reporting.

In addition, NetSuite has helped Fridays manage its global network of franchisees by providing support for local languages and currencies everywhere the company operates. 

“For almost 60 years, Fridays has grown its business to create a fun and social dining experience for its customers,” said David Rodman, senior vice president of customer success, Oracle NetSuite. “With NetSuite, Fridays is able to simplify and automate its financial processes to support the growing complexity of its business model and increasingly diverse revenue streams.”

In addition to NetSuite, Fridays is also using Oracle CrowdTwist, a loyalty and engagement offering from Oracle Food and Beverage, to power its new Fridays Rewards program for customers in the United States.

Iconic shoe brand Manolo Blahnik, on the other hand, selected NetSuite to help enhance supply chain efficiency, consolidate financial processes, and improve visibility into its growing global operations.

With NetSuite, Manolo Blahnik has been able to take advantage of an integrated business suite to automate and consolidate financial processes, enhance inventory control, and drive efficiencies as it continues to optimize its operations.

Founded in London in 1971, Manolo Blahnik has expanded its operations to include more than 300 points of sale and 18 flagship boutiques across the globe.

To support its international business and planned growth, Manolo Blahnik decided to replace its multiple systems with one integrated business management suite from NetSuite.

“Our ethos is to optimize. We strive for excellence and believe in working proactively, whilst being solution focused,” said Wioletta Bogus, chief operating officer at Manolo Blahnik.

“NetSuite aligns with this approach. Now, we have one system that enables us to manage our supply chain end-to-end, streamline warehouse processes, integrate finance with our supply chain, as well as gain the insights needed to continue to increase customer satisfaction. As a result, we can prevent issues and optimize productivity across our expanding global operations.”

With NetSuite, Manolo Blahnik has been able to automate business processes, enhance reporting, and increase visibility across its finance, inventory management, and supply chain operations.

NetSuite has helped Manolo Blahnik gain a much-needed view across its distribution channels globally and assisted in optimizing stock levels by streamlining its warehousing and fulfilment processes and providing access to the insights it needs to inform its strategic planning.

Meanwhile, wine distributor Terlato is also working with Oracle NetSuite to help it deliver premium beverages from producers to customers across the United States.

With NetSuite, NetSuite Planning and Budgeting, and NetSuite Analytics Warehouse, Terlato said it has been able to take advantage of an integrated business suite to increase the speed and accuracy of its financial processes, improve business visibility, and enhance decision-making.

Founded as a single Chicago retail store in 1938, Terlato has expanded its operations through a combination of organic growth and acquisitions. Today, Terlato imports and distributes more than 85 brands of wine and spirits from over a dozen countries and operates three wineries in the United States.

As it expanded its operations to serve restaurants, event venues, supermarkets, and liquor stores, as well as consumers through online sales channels, Terlato’s existing business systems struggled to keep up. They required manual updates and integrations in Excel sheets that created more work, added extra costs, and limited real-time insight into business performance.

After careful evaluation, Terlato selected NetSuite to address these challenges and establish a new enterprise resource planning (ERP) system.

“In the past, our leadership team needed to wait for Excel spreadsheets from each winery and then manually combine them with corporate data to get a full picture of our financials. As our product portfolio continued to expand, we knew manual processes like this were not sustainable,” said Kevin O’Toole, chief technology officer at Terlato Wine Group.

“With NetSuite, we have been able to increase productivity and operational visibility by integrating our business processes and automating thousands of records. By providing a complete business suite that is always up to date, NetSuite has been a game changer and is now providing the strategic insights and new features we need to stay nimble as we grow.”

With NetSuite, Terlato has been able to integrate and automate workflows to save time, reduce errors, and improve visibility across its operations.

For example, more than 85 percent of Terlato’s sales are now automatically recorded in NetSuite, which has enabled Terlato to save a significant amount of time.

In addition, NetSuite Planning and Budgeting has helped Terlato streamline financial and demand planning across its 30 subsidiaries, while NetSuite Analytics Warehouse consolidates all of Terlato’s data and provides daily automated reports to help Terlato better understand sales trends and ensure resources are allocated to key growth areas.

“Prior to using NetSuite Analytics Warehouse, we were overly reliant on spreadsheets and manually adjusting data, but as our product portfolio expanded, we knew this was not sustainable,” said Chris Janes, head of integrated enterprise systems at Terlato Wine Group.

“NetSuite Analytics Warehouse brings together all our data and leverages AI to provide clear insights to help us better understand sales trends and ensure resources are allocated to key growth areas. NetSuite has been a game changer and is providing the strategic insights and new features we need to stay nimble as we grow.”

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