Thursday, 19 November 2015 17:33

NetSuite takes out MYOB, SugarCRM in one hit with STM Bags contract win Featured


Cloud based business software vendor NetSuite is trumpeting a major contract win over cloud accounting company MYOB, replacing the Australian company in delivering a single unified cloud business management suite for STM Bags, a global distributor of laptop bags, tablet and phone cases.

NetSuite boldly declared on Thursday that as STM Bags continued to rapidly expand into new markets and product lines, its MYOB and SugarCRM solutions were “ill-equipped” to support its growing needs – and the company found itself having to adapt its operational processes to suit its legacy platforms versus “operating in a way that would best support its business”.

As well as MYOB, NetSuite also replaces SugarCRM, a supplier to STM Bags, a company founded in Sydney in 1999.

NetSuite says its contract win sees it replace instances of MYOB and SugarCRM at each of STM Bags’ business entities with a single instance of its OneWorld solution to manage its core processes including financial consolidation, customer relationship management (CRM), demand and supply planning, inventory management, order management, document management, warehouse management, invoicing and payroll.

NetSuite says OneWorld also provides STM Bags with multi-subsidiary, multi-country taxation compliance and multi-currency support.

According to NetSuite, with MYOB and SugarCRM, the STM Bags management team did not have visibility across its global operations, with each headquarters operating separate instances of its legacy software -  leading to separate stock lists, inventories and financial reporting which made roll-up, insight, analysis and forecasting “inefficient and time consuming”.

At the time of writing, iTWire had sought but not yet received a reaction from MYOB to its loss of the STM Bags contract to NetSuite.

In today’s announcement of its contract win, NetSuite vice president and general manager for ANZ, Mark Troselj, said: "Moving to the cloud is the obvious step for fast growing international businesses like STM Bags that need to access global business financial and customer data, as well as insights in real-time from anywhere and any device in the world.m

“The transformative efficiencies of managing business-critical processes on one single cloud-based platform are significant and can give an enterprise the ability to rapidly expand, innovate and remain competitive in today's evolving global economy."

NetSuite said STM Bags undertook an exhaustive search of solutions including SAP, Xero, Saasu and Cin7, “but quickly realised that NetSuite OneWorld was the only solution on the market that could accommodate all of its global and cross entity requirements, as well as providing anywhere and anytime access for its employees”.

Troselj said that with NetSuite OneWorld, STM Bags now has a unified view into its global business and has acquired “the flexibility, scalability and agility it needs to continue to expand its global footprint, particularly throughout Asia”.

"We believe that NetSuite is the only system on the market that has the capability to run all of our mission-critical business operations from one single software solution," said Ethan Nyholm, owner and CEO of STM Bags.

"We have gained much needed visibility into our entire business globally, which has transformed our ability to make timely and informed business decisions. There is no part of our business that NetSuite doesn't touch."

Read 6125 times

Please join our community here and become a VIP.

Subscribe to ITWIRE UPDATE Newsletter here
JOIN our iTWireTV our YouTube Community here


The past year has seen a meteoric rise in ransomware incidents worldwide.

Over the past 12 months, SonicWall Capture Labs threat researchers have diligently tracked the meteoric rise in cyberattacks, as well as trends and activity across all threat vectors, including:

Encrypted threats
IoT malware
Zero-day attacks and more

These exclusive findings are now available via the 2022 SonicWall Cyber Threat Report, which ensures SMBs, government agencies, enterprises and other organizations have the actionable threat intelligence needed to combat the rising tide of cybercrime.

Click the button below to get the report.



It's all about Webinars.

Marketing budgets are now focused on Webinars combined with Lead Generation.

If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event.

The iTWire campaign will include extensive adverts on our News Site and prominent Newsletter promotion and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV which will be used in Promotional Posts on the iTWire Home Page.

Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinars and campaigns and assistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview.

We look forward to discussing your campaign goals with you. Please click the button below.


Peter Dinham

Peter Dinham - retired in 2020. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

Share News tips for the iTWire Journalists? Your tip will be anonymous




Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News