$3 Billion in Revenue, 500+ Stores Powered by NetSuite
SAN MATEO, Calif.—March 13, 2007—NetSuite, Inc., the leader in on-demand business management software for small and mid-sized businesses, today announced that Cartridge World, a NetSuite business-to-business (B2B) ecommerce "power user," has automated its entire ecommerce operations — from procurement to fulfilment to invoicing to financial reporting — with NetSuite. The result has been exponential growth of 200 percent in sales to the 500+ U.S. stores of Cartridge World, the world's fastest growing ink refill retailer in the $80 billion printer cartridge industry. A leader in the small business ecommerce application market, NetSuite has more than 1,500 B2B and B2C ecommerce customers around the globe and has enabled customers like Cartridge World to grow their businesses at an unprecedented rate. For more information about the Cartridge World-NetSuite success story, please visit www.netsuite.com.hk/cartridgeworld.
Based in Emeryville, Calif., Cartridge World recently ranked as number 14 of the Top Global Franchises, as reported in Entrepreneur Magazine's '500 Fast-Growing Global Franchises.' The company provides ink and toner cartridge refilling services to consumers and small business users, and has successfully integrated NetSuite into its worldwide operations to oversee hundreds of franchise locations and manage a rapidly growing business. NetSuite Ecommerce helps the franchise locations order products and conduct business with Cartridge World North America.
With NetSuite, Cartridge World has saved $75,000 a year in personnel costs from streamlined inventory processes; is saving an additional $150,000 per year from on-demand availability and managed backups; and is providing real-time information and key metrics for the global organisation. In addition, with NetSuite Cartridge World has recently experienced a 200 percent collective increase in sales to its 500+ storefronts in the U.S., and more than 1,400 worldwide. Previously, Cartridge World used QuickBooks and an internal webstore, but the company's rapid growth was causing strains on data visibility and inventory coordination across the business. In part, this was due to manual processes in fulfilment that created costly data entry errors, and an international presence that posed expensive demands for disaster recovery and continuity assurance.
"NetSuite gives us far more power and flexibility than a system like SAP would," said Andrew Peterson, director of finance and accounting for Cartridge World. "What has been phenomenal is that we have grown so much in size without increasing our employee workforce substantially. Our volume has more than doubled, and instead of hiring eight or 10 people to account for that, we've only had to hire a couple. Our business success is directly a result of the increase in volume that has come about thanks to NetSuite. We now have NetSuite running across every department in Cartridge World's global operations, providing visibility of our global metrics delivered to our dashboards real-time, which has proven to be invaluable."
Furthermore, Cartridge World is in the process of expanding its use of NetSuite in myriad ways, including linking all suppliers' inventory to Cartridge World via NetSuite's SuiteFlex integration platform; allowing royalty payments from stores to be directly deposited into bank accounts; and consolidating global operations into one set of financial statements.
NetSuite recently announced a new release of NetSuite ecommerce functionality, which extends the benefits of Software as a Service (SaaS) applications to meet the needs of mid-sized companies' ecommerce operations. The new features — including multi-channel, multi-store, multi-currency, and multi-language support and automated Amazon.com-like up-sell/cross-sell capability — enable mid-sized companies to efficiently automate both their business-to-business (B2B) and business-to-consumer (B2C) operations without the cost and pain of developing complex custom applications. To learn more about NetSuite ecommerce, please visit www.netsuite.com.hk/ecommerce_2007
About Cartridge World
Emeryville, Calif.-based Cartridge World is the world's fastest growing ink refilling retailer in the $80 billion printer cartridge industry. The company refills empty ink cartridges and remanufactures empty toner cartridges for inkjet printers, laser printers, fax machines, and photocopiers with top quality, brand-specific ink and toners. It offers consumers and businesses a more affordable option to buying new, provides a 100% satisfaction money-back guarantee and helps the environment by keeping cartridges out of landfills. Voted #1 in the category of toner replacement services by Entrepreneur Magazine Franchisee 500, Cartridge World has more than 1,400 franchised retail locations in 36 countries. Cartridge World North America was founded in 2003. There are currently more than 500 locations open in the United States, with 800 locations expected by the end of 2007. For more information, call (888) 99-REFILL or visit www.cartridgeworldusa.com.
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