Social Enterprise Expands Internationally and Aids Filipino Nonprofit with NetSuite
SAN MATEO, Calif. and MAKATI CITY, Philippines—March 16, 2017—Oracle NetSuite Global Business Unit, one of the industry’s leading providers of cloud financials / ERP and omnichannel commerce software suites and a wholly-owned subsidiary of Oracle, today announced that Theo & Philo, a bean-to-bar maker of single-origin Philippine artisanal chocolate, replaced QuickBooks and numerous Excel spreadsheets with NetSuite to gain scalability and flexibility to power its growth.
Since going live on NetSuite in November 2015, Theo & Philo has been using NetSuite for accounting, inventory management, order management, invoicing and purchasing—all within one cloud ERP system. With NetSuite, Theo & Philo is able to better plan and manage sourcing, production and distribution and increase efficiency while saving both time and money compared to the error-prone manual work required by their previous software and paper-based processes.
Founded in 2010, Theo & Philo (www.theoandphilo.com) grew steadily offering more than a dozen varieties of premium, locally-sourced chocolate products. As production volume soared 700 percent to about 14,000 bars a month, the organisation faced challenges keeping pace with its previous system and inventory management was handled manually and tracked on paper.
“NetSuite is an integral part of our day-to-day operations and a scalable platform for our continued growth,” Theo and Philo Founder Philo Chua said. “We’re a lot more efficient and, as we grow, the automated process flows and checks and balances that we need are already in place within NetSuite.”
Through its continued global growth and success, Theo & Philo, a social enterprise and grantee of the NetSuite Citizenship software donation program, has been able to help improve social welfare in the Philippines in partnership with Gawad Kalinga, a nonprofit organisation committed to ending poverty for 5 million Filipino families by 2024.
The features and benefits that Theo & Philo has been able to achieve with NetSuite include:
International growth. Theo & Philo has expanded sales to foreign distributors in recent months, using NetSuite’s multi-currency capabilities for transactions in the Euro for Germany and the U.S. dollar for Japan.
Real-time access. Compared to the limitations of its previous QuickBooks desktop application, Theo & Philo now enjoys anywhere, anytime cloud-based capable access to NetSuite with no need for on-premise software and servers.
Streamlined inventory and distribution. Real-time data has helped Theo & Philo control inventory and accelerate production and distribution with visibility that helps spotlight issues and areas for improvement.
Flexible customisations. Leveraging the NetSuite SuiteCloud Platform, Theo & Philo can adapt NetSuite to unique business needs, for instance, a customisation by Tech for Good, a PGE Solutions sister company, enables the company to seamlessly manage consignment inventory and associated sales orders.
Future-proofed for growth. As a unified suite, NetSuite offers Theo & Philo functionality for CRM, ecommerce, product assembly, lot tracking and more as the social enterprise continues to grow.
About Oracle NetSuite Global Business Unit
Oracle NetSuite Global Business Unit, a wholly-owned subsidiary of Oracle, pioneered the Cloud Computing revolution in 1998, establishing the world’s first company dedicated to delivering business applications over the Internet. Today, Oracle NetSuite Global Business Unit provides a suite of cloud-based financials / Enterprise Resource Planning (ERP) and omnichannel commerce software that runs the business of companies in more than 100 countries. For more information, please visit www.netsuite.com.hk.
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