Studio McGee Simplifies Accounting and Inventory

As Sales Surge, Studio McGee Simplifies Accounting and Inventory in NetSuite ERP

Studio McGee fulfills its aim of “making life beautiful” in multiple ways. The company has seven subsidiaries, including one that provides interior design services and one wildly popular ecommerce brand that empowers DIY designers to recreate its design projects at home. Magnetic founder Shea McGee built a solid following for her design services before building up the business around her aesthetic that mixes styles and eschews trends.

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Company

Studio McGee

Location

Draper, Utah

Industry

Retail

Revenue

$80M

EMPLOYEES

100 to 249

Number of Subsidiaries

Applications Replaced

Microsoft Office
Xero

NETSUITE PRODUCTS IMPLEMENTED

NetSuite ERP
NetSuite Advanced Customer Support
NetSuite Learning Cloud Support

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“We’re making NetSuite the source of truth for company data. It just simplifies things.” Josh Batchelor, VP of Technology, Studio McGee

Making Life Beautiful for Customers and Employees

Ecommerce sales soar: With its audience and ecommerce arm firmly established, Studio McGee was well-positioned when demand for homewares surged in 2020. The company’s licensing subsidiary launched a partnership with Target that year, sending sales through the roof. Annual revenue has grown 8X over the past five years, to more than $80 million last year.

Cross-referencing creates complexity: Studio McGee formerly ran on a handful of systems that didn’t integrate well. Basic reporting required pulling individual reports from Xero, ShipStation and Shopify, then cross-referencing them. The team often had to enter bills from its shipping carriers at the summary level, leaving landed cost unclear. Inventory was getting more complicated too, as Studio McGee was moving from a 3PL to its own fulfillment center.

Consolidation brings clarity: Since Studio McGee centralised its business on NetSuite ERP, all reporting flows from one data source, and much of it is automated. Built-in controls guarantee intercompany transactions are properly recorded, and teams can enter shipping carrier bills individually for a clear picture of profits from each vendor. Meanwhile, interior design clients enjoy an ecommerce-like experience, reviewing custom invoices online.

Living in the suite: Studio McGee is implementing more NetSuite functionality as it moves into a massive new fulfillment center and explores international expansion. It will connect its NetSuite and Shopify environments with NetSuite Connector(opens in new tab), then combine data from the systems to build reports on the fly in NetSuite Analytics Warehouse(opens in new tab). NetSuite Planning and Budgeting will fuel budgeting and merchandise planning instead of spreadsheets, and NetSuite Advanced Revenue Management will handle deferred revenue and accrued expenses. And with even more accurate inventory tracking, Studio McGee will gain clarity into which products it has in stock and needs to promote versus which products it needs to reorder.

Resources

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