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.
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."