Date Posted: 7/27/2011
NetSuite OneWorld Powers Thousands Of Daily Transactions For Beyond The Rack
Flash Sale Pioneer Adds 3,000Transactions Daily in First Year with NetSuite
More than 4,000,000 OnlineShoppers Enjoy Fashion Innovator's Cloud-Based Solution
SAN MATEO, Calif. — July 27, 2011 — NetSuite Inc. (NYSE: N), the industry’s leading provider ofcloud-based financials / ERP software suites, today announced that leading online flashsale e-tailer, Beyond the Rack, deployed NetSuiteOneWorld to support its rapid, global expansionand better manage its fast-moving inventory. Beyond the Rack's membershipescalated to more than 4,000,000 since its inception in 2009, taking the topspot on Internet Retailer’s 2011 fastest growing online retailer list. Thisrapid growth crushed the flash site’s technology infrastructure of disparatesystems, including QuickBooks and other home-grown custom programs, and jeopardizedits continued growth. NetSuite OneWorld's unique ability to providemulti-subsidiary, multi-currency consolidation has enabled Beyond the Rack to manage itssignificant transaction volume in the US and Canada, as well as seamlesslylaunch new ventures. Beyond the Rack's 230 employees are now relying onNetSuite OneWorld for accounting, inventory, CRM, multi-currency transactions, purchasing, analytics andreporting. For information about NetSuite customer success stories, pleasevisit: http://bit.ly/NSCustomerSuccess.
Eliminating a hairball of software systems with NetSuiteOneWorld enabled Beyond the Rack to achieve its goal to quadruple revenue in2010 by accurately processing thousands of daily transactions and integratingthe customer and inventory lifecycle. Based in Montreal, Beyond the Rack is aprivate online shopping club offering designer brand apparel, accessories, homedécor, beauty, electronics, and travel deals at prices up to 70 percent offretail. Merchandise is sold in the context of limited-time “flash sale” eventslasting approximately 48 hours, with limited quantities and availability. Thecompany was able to launch successfully with a collection of point systems, butas order volume grew the limitations and inefficiencies of the softwareapplications quickly became apparent. Beyond the Rack wanted to avoid a common start-uppitfall, proactively addressing the pain points of its software hairball beforea crisis emerged. Order delays were becoming more common and other, moreserious failure modes looked inevitable. Beyond the Rack needed a new,comprehensive solution that would support its unique sales model and cash flowrequirements to protect its strong growth trajectory.
Beyond the Rack had no interest in building a large ITstaff to install and maintain a complex, costly on-premise solution, and thecompany needed a solution with a comprehensive, flexible enterprise platformthat could integrate with the custom Ecommerce front-end. NetSuite OneWorld wasthe natural choice. It proved perfectly suited to the task, helping Beyond theRack codify its processes and supporting the unique and intricate flow ofgoods, purchases, and cash through the rapid-turnover sales process. Themulti-subsidiary rollup capabilities of NetSuite OneWorld enable Beyond theRack to manage income, tax, and profit/loss accounting separately buttransparently in both its US and Canadian operations.
Today, NetSuite OneWorld manages all of Beyond the Rack'sback-office needs, and provides all of the customer and product data necessaryto power its customer-facing Ecommerce site. Growth continues on-pace anduninterrupted, as Beyond the Rack introduces hundreds of new product SKUs everyday and processes thousands of sales through the NetSuite OneWorld solution.Multi-location inventory is now cleanly integrated, providing clear visibilityinto the company's overall stock levels. NetSuite's worry-free cloudavailability is a perfect fit for Beyond the Rack, which typically experiencesdramatic, 100-fold traffic spikes in the course of a single hour when newproducts are offered for sale.
"NetSuite OneWorld is a key component of Beyond theRack’s back office systems. Their support team is valuable in helping us solvethe unique problems associated with a flash sales business,” said Shawn Kernes,VP and CTO at Beyond the Rack. “Using NetSuite rather than a traditionalin-house solution allows us to reduce upfront investment and keep our moneyfocused on growing the business.”
NetSuite OneWorld delivers all the features andfunctionality needed for Beyond the Rack to run its fast-growing revolutionaryfashion business, and expand to new business ventures. The NetSuite cloud ERPsolution gives the company a clear chart of accounts and, for the first time,detailed insight into the margin of each product and purchase. Byfuture-proofing with the flexible, expandable NetSuite OneWorld solution,Beyond the Rack has a clear course ahead to introduce more shipping locations,automate more taxation processing, and further refine the buying process. Forinformation about NetSuite OneWorld, please visit: http://bit.ly/NSOneWorld.
Follow NetSuite's Cloud blog,NetSuite's Facebook page and @NetSuite Twitter handle for real-time updates. To join the NetSuiteand Beyond the Rack OneWorld conversation on Twitter use @NetSuite@BeyondtheRack.
About Beyond theRack
Beyond the Rack, North America’s premier online shoppingclub offers its members the most sought-after designer brand apparel,accessories, beauty products, home décor, and leisure travel packages at up to70% off retail. Ranked by Internet Retailer as the fastest-growing e-tailer in2010, Beyond the Rack sells its products in the context of two-day, first-come,first-served, limited-quantity events. Members can expect up to 15 new eventseach day, starting at 11AM ET. The privately held company has offices inMontreal and New York, with a staff of 230 full-time employees. To date, Beyondthe Rack proudly serves 4 million members across North America.
NOTE: NetSuite and the NetSuite logo and where business is going are servicemarks of NetSuite Inc.
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