Oracle NetSuite Corporate Communications
Furniture Retailer Takes Business to the Cloud to Improve Operational Efficiency and Deliver Superior Customer Experience
SAN MATEO, Calif.—January 6, 2015—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that Lovesac (www.lovesac.com), a fast-growing designer and retailer of high-end sectional furniture and accessories, has deployed NetSuite to run its mission-critical business processes from financials / ERP, inventory and order management, and customer relationship management (CRM), to point-of-sale (POS) processes across its 60 brick-and-mortar retail stores in leading shopping malls across the U.S.—all connected within NetSuite's single unified cloud solution.
Previously, Lovesac struggled with process inefficiency and poor visibility within its disconnected legacy environment, including an on-premise Microsoft Dynamics GP system. The company used email to manage shipments, and lacked insight into and control over orders, which prevented Lovesac from improving the customer experience. Frustrated, Lovesac recognised that it needed a robust, scalable business management platform to keep pace with growing order volumes and to future-proof the company for continued growth. After examining multiple solutions, Lovesac selected NetSuite's unified cloud solution that delivers rich functionality in an integrated real-time environment. In addition, NetSuite's customization capabilities enable Lovesac to readily implement custom workflows and processes to support physical store, ecommerce and call centre channels.
Since going live with NetSuite, Lovesac has dramatically improved end-to-end business processes and is scaling the business to drive continued 50 percent year-over-year revenue growth. The 400-person company has also gained critical new abilities to deliver a top-quality customer experience, with consistent and reliable processes from initial POS through lifetime customer relationship. Store associates are significantly enhancing the in-store customer experience with access to real-time data in NetSuite for customer history, inventory availability, order placement and management, and customer support, while the NetSuite POS solution processes in-store transactions.
"NetSuite is helping us transform how efficiently and effectively our company is run," said Ryan Johnson, Lovesac Chief Operating Officer. "We now have 360-degree visibility into inventory and customer transactions across all channels, which is essential in providing a holistic omnichannel commerce experience and ensuring a high degree of customer satisfaction that drives loyalty and repeat business."
With NetSuite, Lovesac has increased its performance in critical business areas such as:
Operational efficiency. Thanks to its use of NetSuite, Lovesac is now better positioned to keep pace with growing order volume while efficiently managing inventory, improving its internal productivity, minimising inventory costs, and gaining new insights into key operational and financial metrics.
Order management. NetSuite order processing seamlessly handles high order volumes from Lovesac's ecommerce website as well as in-store orders, with flexibility to accommodate thousands of customer-selected variations to modular furniture setups.
Inventory management. Lovesac personnel using NetSuite have deep visibility into stock levels in real-time across multiple warehouse and store locations so they know when to replenish stocks. With greater control and visibility in NetSuite, the company's October 2014 quarterly inventory count resulted in the fewest adjustments it has ever needed to make.
Customer service and support. Both in-store personnel and the Lovesac Customer Love Team have detailed, real-time data at their fingertips through NetSuite to provide customers with a seamless, informed experience both pre- and post-sale.
Experience NetSuite's Unified Cloud-Based Retail Solution at NRF 2015
Retailers attending the NRF Big Show from January 11-14 in New York City can experience NetSuite's unified cloud-based retail solution firsthand at booth #4209 and are invited to schedule their own personalised demonstration by booking in advance through www.netsuite-nrf.com. During the conference, NetSuite executives will also be giving several 15-minute presentations titled "Customer Commerce: Build Your Business Around Your Customers, Not Channels," highlighting what it takes to design a customer-centric business and deliver a seamless omnichannel experience. Presentation dates and times can be found at www.netsuite-nrf.com.
Today, more than 20,000 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 enterprise-class cloud financials/ERP and omnichannel commerce software suites for divisions of large enterprises and mid-sized organisations seeking to upgrade their antiquated and siloed systems. NetSuite continues its success in delivering the best cloud 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.
For more information about NetSuite, please visit www.netsuite.com.hk.
NOTE: NetSuite and the NetSuite logo are service marks of NetSuite Inc. Third-party trademarks mentioned are the property of their respective owners.