By NetSuite
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The podcast currently has 133 episodes available.
00;00;00;00 - 00;00;30;14
Hey Suite listeners. Welcome to the NetSuite Podcast. I'm Ian McCue, a co-host of this podcast and senior content marketing manager at NetSuite. We have a great guest on today's show, Jason Kencevski from Speedmaster. Jason is the CEO of Speedmaster, a large manufacturer and seller of aftermarket auto parts for classic cars. To start, Jason shares why his dad started this business and how it turned into an industry leader over the past 45 years.
00;00;30;17 - 00;00;58;09
He explains how his own interest in technology led the company to invest in new systems that included implementing SAP Business One more than a decade ago. Jason dives into where the on-premises SAP application fell short when it came to running a global business and updating product data for 25,000 items. The CEO walks through how those frustrations led Speedmaster to replace SAP with NetSuite after a few years and how a “living, breathing system” made an enormous difference.
00;00;58;12 - 00;01;26;13
He digs into how modules including NetSuite OneWorld, NetSuite WMS, and NetSuite SuiteCommerce Advanced all helped the company run a smoother, more efficient operation. Jason wraps up with a few thoughts on what the future holds for vintage cars and what that means for his company. Stay tuned because all of that and more is coming up next. You're listening to the NetSuite Podcast, where we discuss what's happening with the next week, why we're doing it and where we're heading in the future.
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We'll dive into the details about the software and the people at NetSuite who are behind all the moving parts. We'll also feature customer growth stories discussing the ups and downs of running a company and how one integrated system can help your business continue to scale.
00;01;45;24 - 00;02;11;17
So to kick this off, Jason, tell us a little bit about Speedmaster. What do you manufacture and who do you sell to? Yes, So I mean, Speedmaster has been around for over 40 years. We have a slogan, you know, we just make awesome car parts. But drilling into those awesome car parts, we design, test, and manufacture over 25,000 V8 car spare parts, you know, specifically aftermarket automotive, V8 car, spare parts.
00;02;11;20 - 00;02;31;21
And this is a business that your dad started back in 1979. And I saw on your website, you know, a cool video about kind of how it started. But for people who haven't seen that video, don't know that much about Speedmaster, could you kind of share that story about how this business came to be? Sure. Sure. I mean, you know, every great entrepreneurial story always starts with solving a problem.
00;02;31;23 - 00;02;48;21
I think that problem was my dad, you know, wanted to be the coolest kid in the block and have the fastest car so he can impress all the girls. I was doing that. You know, he was racing, legally of course. And, you know, he was racing and he blew up his engine and had to find out what broke.
00;02;48;24 - 00;03;05;22
Some of the components that broke were actually, you know, weren't perfectly designed or could have been designed better. And, you know, he started with the simple, simple entrepreneurial spirit of making something better, and the rest is history, believe it or not. Is this something that was kind of always your dad's passion? And did he did he have a knack for that stuff?
00;03;05;23 - 00;03;24;06
I mean, it seems crazy to just say this broke. Okay, let me now build, you know, a replacement part for it. Yeah, it's funny you say that because, I mean, I don't know, like, cars were his passion at the age, but, you know, becoming one of the most influential brands in the world right now. I don't think he was envisioning to do that.
00;03;24;06 - 00;03;44;01
I think at the time he's like, hey, a broken something. I want to be fast. Let me just fix it and move on. And it's just I guess that's probably the best way to start. You know, you don't always have to have the answer. You don't always have to think. With the Indy mind or not, you know, I appreciate, you know, Seven Habits of Effective Leaders will tell you always think with the end in mind.
00;03;44;01 - 00;04;07;01
But sometimes the start doesn't have to be that that far fetched. So Speedmaster seems to take a lot of pride in the fact that it designs and manufactures over 25,000 car parts. Why is that kind of important to the company and maybe a source of pride for the business as well? So I guess at its core, when you get to a certain point, you know, the top end of town, this, you know, three major players, you know, which is holy, it'll work.
00;04;07;01 - 00;04;41;00
And speedmaster you try to scale, you try to be horizontal. So what happens is you try your best to start looking for companies to buy or just shortcuts in to achieve your goal of widening your, you know, your variety. So for us, we take a lot of pride in that. And that good thing is that we're still privately owned, so we take a lot of pride in making sure that everything we actually design test the manufacturing house is actually done by our specialized team and we're not looking for which is fine, but we're not looking to find growth hacks to, you know, acquire companies to grow quickly.
00;04;41;00 - 00;05;03;04
And then you're not sure the quality of the products. You may have some problems. Also, at the same time, you will you know, you could inherit some of their bad behaviors, too. So, you know, it's always been the founder's ethos, you know, to really be hands on to design tested manufacture most of those components. And it seems like it's kind of become increasingly rare for an automotive components company to design and make its own products.
00;05;03;07 - 00;05;28;21
Why is that? Is it just is it more cost effective to go other places? Typically, it's hard to do in-house. Yeah, I mean, I guess, you know, touching on the scale portion, it's hard. The scale, you know, it's really difficult to produce, you know, that amount of SKUs in a short period of time to scale. I guess, you know, if you want to increase 50 or 100,000 SKUs, it's a lot it's a lot quicker and easier to just buy a brand and, you know, have their offering.
00;05;28;24 - 00;05;54;11
You know, we try to keep it in-house and push that ahead. And I guess that means in turn, you're not buying a company, you're investing in other people. They work for you or work, you know, directly for you or indirectly for you. So, you know, the industry becomes intertwined with Speedmaster a lot more as opposed to just, you know, buying and selling someone else's parts to solve to not to solve a problem, but to increase a product offering, if that makes sense.
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And part of your mission is kind of to create products that, you know, I'm quoting your mission here, are inspired by the blend of old and new technology. How is that that idea of kind of blending old and new? How is that core to what Speedmaster is and how does that maybe help differentiate you from some of the other companies out there that make automotive parts?
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Yeah, So exactly that, you know, the mission statement is a blend of old and new technology. So the probably the best way to explain it is we're an aftermarket automotive car component manufacturer. So we have to solve a problem. Like every good business, we have to solve a problem. Typically the problem is that people want to go faster or, you know, the engine or whatever it may be.
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The specific component is, you know, under higher amount of stress. I mean, back in the day, engines, you would only make 25 horsepower. Now they're making 400 horsepower all the way up to a streak, you know, like a current model Mopar or, you know, like a Dodge Chrysler, Mopar Demon has almost a thousand horsepower. So those sorts of engines back in the day were racecar engines.
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And now the cars that you buy off the shelf at your local Dodge dealer. So what happens is, you know, to solve a problem, you want to be profitable and you want to do it the quickest way possible. And typically the easiest way is just to solve the problem. And you design something that solves the problem. What we do is we actually try to solve a problem by incorporating the original view, look and feel of the item, which becomes timeless.
00;07;16;26 - 00;07;42;04
So I think Apple does it very well. If you have a look at a lot of the Apple products, if you go back in time, a lot of the look and feel, I think there was a brand, I forget what it's called, but they all you know, it's basically replicating 1960s and 70 year old products today. So they become timeless and Speedmaster’s aim on that front would be to create a timeless looking component, not one that's functional and highly profitable, if that makes sense, which makes it tough.
00;07;42;04 - 00;08;05;20
And that's what makes us different. You know, we're timeless. Yeah. Yeah, absolutely. One more question kind of about your history as a as a brand. So this this company started as Peak Performance about 45 years ago, like we said, or almost 45 years ago. And it's now become a big global operation as we kind of think about how, you know, what started as a small storefront, almost 45 years ago turned into what it is today.
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What are some kind of key moments you think, in the company's history that got it to where it is now? heaps. Heaps adversity for sure. You know, originally my dad was solving a problem of just making car components to solve small issues that he found. And, you know, he'd become a manufacturer back in the day. But one massive key turning point was, you know, my dad had created a part that just wasn't working.
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And the typical thing of, you know, not asking for help, people these days are too scared to ask for help. My dad was completely the opposite. He went to America and was at the SEMA show in Las Vegas in November. Every year it's been around for, I think, 50 or 60 years, and he took one of his distributors, which was problematic at the time, and he couldn't get the phasing right.
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So, you know, he took it to the show and he spoke to one of the guys there whose technician is like, Hey, I've got this problem. You know, he gave him the distributor and they later he came back and said, Hey, have solved the problem. This is all it is, the phasing out, you know, this is what it is.
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And when the guy brought it back, it was really funny because he brought the item back and he brought this gentleman along. My dad had no idea who it was, and he started asking questions, you know, how many do you make? You know, like, how do you make them? All that stuff was very simple at the time.
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Yeah, we make a lot. He's like, What do you mean, a lot? And he's like, we make 500 a year. It's very, very good item. We make him in Australia. We design, test and manufacture them in Australia. Very, very proud. The guy's like, okay, great. You know, would you, would you have a look to export them to America?
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My dad was like, Yep, sure, of course, why not? So the next day the man came along and I think at the time, I mean, I forget what the company was called at the time. It was one of the largest distributors of automotive car parts at the time. He came along and said, I'd like to buy your capacity of 500 per year, if that's okay.
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And my dad's like, wow, Yeah, of course, no problem. It is like, but I need that per month. So you know what my dad was doing in one year potentially, You know, he just got an order for 12 years or 12 months worth of orders. In one conversation. So on the back of just the most random experience of, Hey, I need help, how do I fix it?
00;10;06;17 - 00;10;24;18
People respect that and respect the fact that you're willing to make things better, willing to ask for help. And that was pretty much the start of what you now know is Speedmaster America. And how long ago was that? When did that happen? So I think it was probably close to 25 years ago. Okay, We've been here for now.
00;10;24;25 - 00;10;51;01
Again, just don't quote me on it. But around 22 years, that was almost close to 25 years ago. Yeah, believe it or not. So, Jason, you obviously have a long history of the business. You grew up around it. You today are CEO and have been for quite a while. But as you just kind of look at your personal time with the company from when you first got involved and maybe when you first kind of started to take a leadership role within the company to where it is today, how did those how do those two things compare?
00;10;51;01 - 00;11;11;17
How does the Speedmaster of today compare to the one that you remember from early adulthood, childhood, anything like that? Yeah, lots of changes. You know, definitely couple of things. Definitely keeping up with the times, as you should. And I think this one has some of my flair attached to it. I'm not saying that all the amazing things that Speedmaster have done are my doing.
00;11;11;17 - 00;11;26;16
I'm saying that a lot of things that, you know, a lot of the direction I'd like for the company of the brand to go towards, you know, heavily influenced by myself, like, for example, you know, I'm a tech geek, I think would touch on that a little bit later. I'm a tech geek. You know, I built computers when I was a kid.
00;11;26;20 - 00;11;48;02
All my life I've been breaking those code in games and trying to hack computer games and whatnot, building computers. So always have had a tech savvy background. So applying that sort of tech savviness to Speedmaster, it was definitely one of the core fundamentals at moving forward for sure. And a key part of kind of keeping up with the times, like you said as well.
00;11;48;02 - 00;12;13;04
So makes sense. Yeah. So is this a company that kind of always saw value in technology and invested in kind of new and better technology as it became available? Or would you say that there was more of a shift when, when you came into to more of a leadership position? So definitely more of a shift. The business was heavily infatuated with building amazing car parts, building awesome car parts and whatever technology was required to do.
00;12;13;04 - 00;12;40;22
So you're talking, you know, whether it be manufacturing automation, whether it be the latest a machine. So, you know, number one priority on a technology front would have always been around the product. So there's at least three pillars to Speedmaster: our people, our products, and our approach. And I think the biggest one that I've impacted is the approach and the influence through technology would have been definitely, you know, heavily influenced bymyself, for sure.
00;12;40;24 - 00;12;58;11
You know, the efficiency and the automation that Speedmaster adheres to today on a global scale is, you know, almost second to none. Back then it was, you know, just business basics. You know, you sell an item, you invoice an item, you get paid for an item. You know, it's just business basics, but it's not like that today.
00;12;58;11 - 00;13;15;22
And definitely, you know, on the back of my heavy influence, also, my brother, who was part of the business for about six years and a lot of drastic, drastic changes happened. You know, on the back of his help as well. You were on SAP Business One, a solution probably a lot of people listening to this are familiar with.
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I guess, first off, kind of how long did you use that software for and where did you feel like it really fell short in terms of supporting the business? Yeah. So at the time we were looking at different solutions. We weren't too sure about, you know, the power or the ability of cloud computing at the time was 2012/2013.
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I mean, cloud computing wasn't new. It was old just at the time. It all thought weird that, you know, your whole infrastructure could come to a grinding halt if you lost your Internet connection. You know, I mean, Internet is not a new thing. So shouldn't have been to two things. But it was I mean, people were people were people were skeptical of the cloud for a long time.
00;13;50;16 - 00;14;16;06
So. Yeah. And so for that reason, you know, we moved to SAP, which is an on premise solution. It was tough. I mean, that's why I'm so passionate about sharing the NetSuite/Oracle messaging, because we've had such a great, great run with that. SAP, it was daunting. It took, you know, 18 months to understand our needs to roll out the case of the Speedmaster case or project, I guess.
00;14;16;12 - 00;14;37;11
And it was I mean, we'll touch on it probably later, I'm sure, with any of the other questions. But it was a flat system. It was a local server. Every time we would increase every, you know, every year would have to increase the server, increase the hard drive. We went from one server to two servers, two, three, three servers in Sydney, three servers in L.A. It was just becoming a nightmare for sure.
00;14;37;11 - 00;15;04;18
And this was you're talking only two years into the, you know, two years into it. So we're not talking ten years. You're talking together from one server to three. You know, we had to become experts in RAID and other technologies. boy. I think that that paints a good picture. I mean, the fact that it was only a couple of years before you were running into serious problems in terms of its ability to scale with the business you know, maybe says a lot and maybe is that would you say that's part of what convinced you that maybe the cloud is the way to go?
00;15;04;18 - 00;15;22;12
Because we're going to get that that scalability that we clearly need? We move to the cloud solution because Oracle NetSuite was the solution for us and it happened to be on the cloud. If I guess if NetSuite was an on premise solution, yeah, I think we would have run into the same problems. NetSuite, just obviously have got it right.
00;15;22;12 - 00;15;40;03
So potentially that's probably why they're in the cloud. I'm not sure, but I can guarantee you while I can't guarantee that NetSuite Oracle would have got it right, but they have and we only move to the cloud because of that fact. Was it a struggle in particular to manage international operations on Business One, because I think at that point you were already becoming or were a global company, right?
00;15;40;03 - 00;16;02;24
Was that a particular pain point? For sure, for sure. You know, the original solution that was rolled out was definitely a pain point. It was a local solution for Australia, a local solution for America. And then like potentially running like a pseudo hierarchy over the twowe didn't even get to touch on, you know, on the Asian manufacturing portion of it and was just better understanding that.
00;16;02;24 - 00;16;17;18
And even within two years or 2 to 3 years, we still hadn't had that pseudo global connection. So yeah, it was impossible because there was still lot to localize solutions. And so you start your search for a new ERP system, you realized it's time for a change. How did NetSuite kind of get on your radar, first of all?
00;16;17;23 - 00;16;53;12
Yes. So we sat down and we had a meeting and we're coming up to a three year period for SAP. It was me, our CMTO, chief marketing technology officer, and one of our auditors. Three of us sat down, had lunch one day, and we discussed, you know, the way that SAP was working and, you know, remote desktop being into a local L.A. connection to talk, to work on a local solution, you know, things like just adding a product in both locations meant you had to update all the item information on one location locally and then remote desktop to another location and then update all the same data.
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And obviously had the lag and all the delay of the from stop. So it was impossible even just to create products, you know, take half an hour, an hour to create one product. And so you know, these are some of the things that we're discussing. And we were three years into SAP or verging on, you know, renewal or, you know, taking on another three years.
00;17;12;13 - 00;17;28;15
Still, I think that's typically, you know, how people go along with their and well, like, what do we do? Do we stick to this, you know? And at the time it was either we cut our losses and move on or we apply another three years. And I got to be honest with it was touch and go. We've had just finished investing a lot of money.
00;17;28;15 - 00;17;51;00
We hadn't seen any return, any return at all from this implementation. So to kind of ask for more budget from the company, imagine like we've just raised, God knows how much money to roll out this solution and then to go ahead and say that we are moving to a different solution after three years and then asking to raise, I don't know, the same amount more or less would have been scary, but that was a decision we made.
00;17;51;00 - 00;18;09;29
So when you to answer your question specifically how we came across it, well, our CMTO started doing his homework. He's like, Let me find an alternative solution. Let me see what I can find. And he did. And how did you decide that NetSuite was the right system for you? I'll jump on the back of our founder and instill, you know, some faith and trust in the people who made those decision.
00;18;09;29 - 00;18;29;05
So Eric and Dave at the time did some homework searching around. You know, we were looking at different solutions. SAP, SAP Hana, I think it was at the time of Demandware, which is I'm not sure if that's still around. Magento was also an option who were trying to play with the solution of, hey, we're a integrated ERP, not ERP.
00;18;29;05 - 00;18;45;11
But you know, they were trying to be a PIM and a few other different things. Sure. And so they had basically done their homework and said, hey, I think this is the one that we need to we need to go for at a closer look. And yeah, we made the right choice. So you went live with NetSuite back in 2017, six years ago now.
00;18;45;11 - 00;19;05;24
As the CEO, what were some of the biggest immediate benefits that you noticed? so I'm going to put it out there for you today. And I want to patent the word for all future Oracle NetSuite conversations. NetSuite is a living, breathing system. And I'm going to obvi you've heard it here today. We're going to we're going to we're going to trademark that term because it is true.
00;19;05;24 - 00;19;25;22
It's a living, breathing system. So we say benefits. Let's just go back to that terminology. So back in the day, you know, you would update an item whether it be a price or a weightor dimension or something. It would be flat, it would update the price or say, for example, even just like an item at its basics, an item, you know, today arrives and used to cost $5.
00;19;25;23 - 00;19;39;07
Now it costs $6. NetSuite has the ability to be living and breathing. And you can create, you know, systems and infrastructure or, you know, to actually, you know, have a minimum markup. You know, like if it cost $5, it has to go to ten. If it cost 6, it has to go to 11 and so on and so forth.
00;19;39;13 - 00;20;05;02
It's a living, breathing system. SAP was, I mean, I'm not I'm not sure if I'm allowed to compare the two, but I will. Now, you are. You know, SAP at the time was you know, it was just a dead system update of data point and it would be dead, dead in the water. And you'd have to go along and try and find out which jails it was connected to, which accounts, which and just go through and really just update that accordingly across the entire platform.
00;20;05;02 - 00;20;27;13
And it was, it was disaster. You know, now, I mean, you update an item, for example, if you update an item, whether it be a title or description or a weight, let's just talk about price update a price right now and it'll go live, not only in Australia, it would go live globally within the moment I save, the price of that item will be saved and will be live globally.
00;20;27;15 - 00;20;44;14
It'll then be live on our website. It'll be live on all our marketplaces. It will be live on all our resellers in a heartbeat. It goes live worldwide. I mean, is that mad? And what kind of business impact does that make? Does it mean less staff? Does it just mean you're spending less time on the stuff and your colleagues are spending less time on stuff?
00;20;44;14 - 00;21;03;19
What's the business impact of, you know, you update something in one place and it's good to go. It's updated everywhere. The impact is so monumental and it can only be explained in micro increments. It's like saying, you know, you look at a beach and you've got, you know, a kilometer of sand. But I'm going to explain to you what makes that beach.
00;21;03;19 - 00;21;28;02
And it's a grain by grain. Yeah. And that's what that's what it does. So what do I start? Well, okay, I go ahead and change a price on an item today from 50 to $100. That thing goes live across the world in a heartbeat. Then that means that as a brand, we have total transparency in ownership of our pricing, of our brand, of our item.
00;21;28;02 - 00;21;50;17
So then you're removing poor customer service, poor brand perception. Can you imagine if Apple for tomorrow decides to increase the cost of their iPhone from $1,000 to 1100 dollars and it's only increased on their website, but yet Best Buy and all the other people don't update their price. And then there's all these discrepancies and then all of a sudden you've got, you know, your brand credibility goes down.
00;21;50;22 - 00;22;27;17
It's just a monumental wave of issues that it causes. How did six out of the top seven best performing tech stocks gain visibility and control over financials, inventory planning and budgeting with NetSuite by Oracle? Answer: At NetSuite.com/code. NetSuite.com/code. Jason What types of insights and kind of reports did you get with NetSuite that you just didn't have before you couldn't get before? Back to the one liner of it being a living, breathing system.
00;22;27;20 - 00;22;43;26
Just everything, you know, like just, just well, first things first. As you know, you know, SAP and other solutions have reporting. So there's you know, reports are reports. I guess the difference is, is that these reports, you have a level of trust, right? You can actually trust them. And I'm not saying you can't trust the ones on SAP, but you're just not sure if a jail is updated.
00;22;43;26 - 00;23;20;14
You're not sure like, you know, when you run a P&L report today, it will be with whatever changes happened today, you know, you don't have to run anything in the background to confirm or check. It's all living, breathing, It's right there. And that kind of builds trust across all of the or the entire solution. But with the reporting, it being living and breathing, you know, you know, again, I think I've I think I've explained it in the past where, you know what, you watched a keynote speaker about somebody and they'll just talking about the impact of having data at your fingertips and that transparency, you know, back in the day, businesses would report on a
00;23;20;14 - 00;23;40;19
12 month period, you know, and then reporting on a 12 month period was too long because, you know, you can't steer the ship in the right direction. It's too long. Then it became quarterly because that's, you know, the best that we could crunch data quarterly, then turn into monthly, monthly, turn into weekly and weekly, then daily, daily, then hourly and now real time.
00;23;40;19 - 00;24;04;22
And NetSuite is at real time. So the reporting is real time. And I think another analogy that's pretty cool was, you know, if someone if they knew, I think it was like something like if an airplane leaves from L.A. So imagine this. You get in a flight again, don't quote me on it, but I'm pretty sure it's right if you get on a plane in L.A. and it's heading to New York, which is just right across the country, you know, straight across country.
00;24;04;22 - 00;24;28;11
And I think they'll saying if it's one degree out or two degrees out, it'll end up in Hawaii. It was something ridiculous. So an airplane, for example, at that point is not going to wait to get to Hawaii and say, wait something's wrong, It'll realize it's two degrees or one degree out after, I don't know, half an hour, 15 minutes, depending on, you know, depending on the flight plan and adjust and move to, you know, move forward towards New York.
00;24;28;11 - 00;24;48;22
And I think when we talk about reporting, it's a similar situation. Everyone can report. The question is, can you report on a real time basis to make those course corrections, you know, in real time. And that's the secret. You know, often people get up there and talk about those course corrections in real time, and that's one of the biggest but not one of the biggest is many, many factors that make Oracle an excellent and amazing solution.
00;24;48;22 - 00;25;07;08
But there’s reporting and there’s reporting, I guess so. Yeah. And can you paint the picture at all about how that reporting helps you make better business decisions or any examples or kind of use cases come to mind where you can take that information and apply it to help the business be more profitable, make the right decision for the future, whatever it might be.
00;25;07;11 - 00;25;27;05
Yeah, sure. So multiple, multiple, multiple ways. I mean, one of them would be every almost every company wants to minimize stock on the shelf, you know, So the better the data is, the more, you know, effective decision making you can make. So, for example, as a company that we hope customers will always try to ask for Speedmaster first.
00;25;27;05 - 00;25;42;19
But sometimes if you don't have a Speedmaster product, they may need it. They go and buy it somewhere else. Part of that philosophy is for us to make sure that we have the item on the shelf whenever the customer needs it. But it's also not a not a very healthy position to be in too. If you're overstocking too much on the shelf too, because that's not healthy for cash flow.
00;25;42;19 - 00;26;03;11
So you could have stock tied up on the shelf for 12 months. That 12 months slows down growth in a different department or a different product or a different, you know, R&D, That money is effectively taking away from somewhere else. So to be better at what we do, you know, with real time data, we're able to have an inventory turns of say, two or three times a year, which is an industry standard, you know, very, very high industry standard.
00;26;03;11 - 00;26;26;04
So that allows you to then have a faster turnover, which means, you know, you're not investing in unnecessary stock, which means you've got access to higher amount of cash flow and that gives you the ability to grow without having to borrow or slow down, you know, So just on that alone, just the ability to have and the super effective cash flow is second to none for especially private businesses.
00;26;26;04 - 00;26;50;09
And, you know, absolutely. Well, you know, we can only spend what we earn. It's like a dollar. I spend a dollar. I don't have the luxury of being a public company work and make one and spend 20. Yeah. Or just someone else's money, right? Yeah. You don't have a venture capitalist breathing down your neck. Yes, yes, yes. So digging a little bit into some specific NetSuite modules, I'll start with NetSuite OneWorld, which Speedmaster actually used from from day one.
00;26;50;11 - 00;27;15;27
How did that just simplify everything that goes into running a business that goes across Australia, the U.S. as well as China? Sure. So, I mean, OneWorld centralizes everything, adds transparency. Again, we just use that simple analogy of if an item gets changed or updated or modified in one location, it's instantly modified across the world. We have our research and development team in Australia who make a lot of changes every day.
00;27;16;03 - 00;27;30;28
They're making changes to items. So for example, just a simple bill of material where they go ahead and say, You know what, we're going to change this bill of material to a different component or a different part. We don't have to then go along and do a traditional method of, you know, printing bill materials, putting it on the wall, educating people of what's in them.
00;27;31;01 - 00;27;47;27
You know, the R&D team have made a decision of what's going to what that below material is going to look like moving forward to make a change to the system. The moment that's live, the next day that item gets pulled, it will have the new components in and it really doesn't. You know, we don't have to bridge the gap of communication.
00;27;47;27 - 00;28;10;27
It's done. It's what it's need needs to be. So it even just removes all those legacy, you know, versions of communication that aren't really unnecessary. You talked a little bit there about, you know, how NetSuite plays a role in one part of your manufacturing with the bill of materials. But could you just kind of explain how Speedmaster uses NetSuite to help manage its manufacturing and supply chain?
00;28;10;29 - 00;28;29;04
Sure, sure. So, I mean, again, it's a living, breathing system. So, you know, we set what we thought was minimum maximums at the time and then the system continues to, you know, get smarter and smarter and, you know, understand the forecasting of what's coming in, what's going out, when it's going to arrive, when it's not. And it continues to adjust in real time.
00;28;29;04 - 00;28;50;17
That airplane that could go to Hawaii, we could be that a component, that could be coming, you know, two weeks late or a month later or two months too early. It's adjusting that in real time. So those decisions again, made in real time. And it helps ensure that we either have the item on the shelf or not too much of it.
00;28;50;20 - 00;29;11;00
You know, we use WMS straight out of the out of the box and we've won best in class many awards for the way we use that solution in our facility because it can be that way. And to give an example, you know, if you were to come and see it firsthand, you're more than welcome to. But the human, the maximum human handling time of any parcel is 10 seconds.
00;29;11;00 - 00;29;32;03
That's human handling time. And for clicks of a button. So literally, you know, someone goes to a shelf, clicks for buttons. I think they're scanning the location twice the item twice, and it goes on a conveyor and it's done. And literally after four clicks of a button and a maximum handling time of 10 seconds, that item is on its way to you or me or wherever may be.
00;29;32;03 - 00;29;58;27
You know, I mean, obviously you should go and buy some parts of this conversation just to test it. But yeah, yeah, it's amazing. Yeah. And did you have any system in place before the WMS or is it really something that that helped you drive that efficiency to the level where it is now? Yeah. No, nothing. You know we, it was all paper based, you know, and again so SAP didn't have a native WMS, you know, it was probably a plug in, it was probably a third party.
00;29;58;29 - 00;30;30;12
There is amazing WNS solutions out there. I mean yeah there is amazing WMS solutions out there. But then to become a again a professional in connecting that solution, finding a solution, you know, engaging in a third party, adding another layer of connectivity, you know, and more silos. So, you know, some people use this solution, some people use that, different logins. And then NetSuite Inventory Management, obviously another piece of the equation, use your how does it help you track and manage the inventory for 150,000 plus SKUs that you sell?
00;30;30;15 - 00;31;01;16
It's nonexistent. I don't yeah, it's nonexistent. What used to happen in a month to two months of crunching data with Excel spreadsheets we're anti-Excel, we're Mac users and NetSuite only users. So we try to avoid Excel as much as we can. I mean, it's a you know, obviously it's a very powerful tool, but we want to centralize everything in NetSuite so yeah, it's basically dropped what used to take again, another external silo, another external team of two who would crunch the data, double check, triple check, you know, make sure that the forecasting was right all that.
00;31;01;16 - 00;31;21;13
Now is now done real time. And via the suggestion of the system, we still run reports just to double check to make sure that something is not missing or humans always know better. So we go back and double check something. But, you know, I don't think I don't think we've ever found a discrepancy to date. So what used to happen in days and months now happens in real time, actually.
00;31;21;13 - 00;31;39;00
So seconds I'll even put a time on it happens in seconds, because just to get your head around a time number, because it's happening real time. It seems like you're a big believer in continuing to add to the Suite versus going and trying to find external solutions. You know, an external WMS, external manufacturing system, whatever. Why is that?
00;31;39;00 - 00;32;03;09
Like what value do you see and continuing to add to NetSuite rather than going in looking for other solutions that might be great but aren't part of the Suite? I mean, you only know until you try. Silos are tough to manage. You know, you have any external software by default overnight, you're going to need a in-house or consultant to manage those two connections.
00;32;03;13 - 00;32;19;22
And just simple answers like, you know, like, like, for example, I guess let me give you a prime example. If you have a external WMS, who who's who in the company creates the logins, the usernames and passwords? How does all that work? You know, where does it come from? What does it go? Who who assigns the licenses?
00;32;20;00 - 00;32;38;12
Are those licenses paid? I mean, just simple things like which you don't even think about. Like, is that license that's in NetSuite because obviously that's which ERP. It's also important HR module. So you're hiring this person. You put that information in there. Have they got the right license for the WMS? No, that's a different license.
00;32;38;12 - 00;32;57;16
Someone else has to log in. So is that a HR job? Is it? Is it? Should human resources align that log in? Does the IT team, you know, connect that log in or, you know, sign on the right rules and responsibilities in a WMS? Yes. So we don't have that problem in NetSuite. We have all the rules responsibilities.
00;32;57;18 - 00;33;15;09
You know the moment you onboard a new staff member you onboard them, you assign them their role, whether it be a warehouse manager, whether it be a picker or a packer or a specialist. You know, we've got a number of different roles that we've created. And the moment that the HR team put an ad out for that position, it's assigned to a role.
00;33;15;11 - 00;33;37;18
That person starts, they get onboarded and by default they know the role and the responsibility and they all live all in one go, you know. So just imagine that just even the simplest, the little stuff, it adds up. Yeah, yeah. Let alone the big stuff. If something goes severely wrong. Then NetSuite SuiteCommerce Advanced. I also wanted to touch on I think you've touched a little bit about e-commerce and how NetSuite
00;33;37;18 - 00;34;02;17
helps there. But how important is e-commerce to the business, to Speedmaster? You know, I used to sell computers in back in 1999, I mean, of 16 years old, selling computers online. So e-commerce is at my core. One of the things, you know, I loved and when you say how important is it to Speedmaster? I guess the only way I can answer that is it's been important to me, you know, since I was a kid.
00;34;02;19 - 00;34;27;01
And while e-commerce was a competitive advantage, which it was for a long time, it was very important. Today, I daresay, you know, e-commerce is co-exist with the rest of the company. Like e-commerce has become like everyone needs an accountant, everyone needs HR, everyone needs 401k. So e-commerce has been is now a core fundamental or core fundamental of a business.
00;34;27;01 - 00;34;48;08
So it's not a competitive advantage anymore. But to you, to your point, how important it is in Speedmaster, it's been a core fundamental to me forever. Would it be, you know, over 25 years at least? So that being said, we were early adopters. Being an early adopter, we, you know, we had had a lot of success in e-commerce and for that reason we want to continue that success.
00;34;48;08 - 00;35;10;20
So we want to continue to showcase that we're at the forefront of technology because we always have been. It'd be pretty lame or crap to be this front runner, early adopter, and then all of a sudden just get chewed up by everyone else. And then just go, yeah, yeah, they, they just, they just do e-commerce. Yeah. So is it a channel where you still generate a lot of sales and, and also that you feel like drives a lot of awareness for the brand?
00;35;10;22 - 00;35;36;29
100%. So much so that we actually take pride in the way we have been able to amalgamate bricks and mortar into the e-commerce environment. You know we have an amazing loyalty program which we shared on stage with the founder at SuiteWorld in Australia, in which we still push traditional offline customers who normally would pick up the phone to go on our website and actually make that purchase.
00;35;36;29 - 00;36;11;23
So, you know, we completely digitize that offering. So it's a huge part of what we do. And second to that, why it's so important is because, you know, with a massive consumer base that we have, we can't have those 1 to 1 interactions. It's impossible to have, you know, say, for example, we've got, you know, 500,000 clients. I can't have 500,000 conversations that every time we bring out a new product, it's very important to the fundamentals of Speedmaster because the only way to continue to share our messaging, it's the only way to continue to share who we are, what we're doing, where we're going.
00;36;11;25 - 00;36;33;17
And it shortcuts all that ability. And looking at the product specifically, you had Magento before, which is now called Adobe Commerce after they were acquired a couple of years back. But why did you decide to move from Magento to SuiteCommerce? Advanced? So step one is to invest in our partnerships. The first step is always to offer or to see if there's an offer with, you know, the native solution.
00;36;33;19 - 00;36;59;27
In this situation being Oracle NetSuite SuiteCommerce Advanced. So we did go on that path that was that would always be our preferred choice. So you might argue it's not the best choice because we have a bias, you know in in something that's native. But ironically it, it ends up being when we discuss it and we can talk about what makes it good and bad actually becomes a no brainer. It’s less of a bias opinion and actually more of a no brainer.
00;36;59;29 - 00;37;21;06
And we did have yes, you're right. We did move from Magento to SuiteCommerce Advanced. The images, data and everything is coming from the ERP. So if I update an image on NetSuite, the up side of it, if I put in an image, the title description it because it's that center of truth within the click of the save button, it's now live on our website.
00;37;21;06 - 00;37;39;22
It's live worldwide. It's one center of truth. Last thing I'll ask you about terms of NetSuite products is the NetSuite Connector, which I think is a more recent addition for you guys. And you use it for eBay and Amazon, where you also sell your products. How does it kind of help you manage, you know, sales through those channels?
00;37;39;24 - 00;37;58;12
How does it work? Again, it just does it just gets the job done right? So it's there. It's there, but it's not and it's there, it's not. So we say, you know, we just make we opt to sell on eBay and. The item that you nurture in maintaining NetSuite is now on eBay. What does that tell you?
00;37;58;19 - 00;38;21;01
You know, the item that you want, the item you can maintain and nurture and you want it on Amazon goes to Amazon, you select it, you go through and tell it in NetSuite, which categories and so on. And so if you wanted to go into and it gets there, there's none of this sending data to a third party cloud solution, which is also another PIM because technically it has to be a PIM, it stores all that data.
00;38;21;03 - 00;38;54;24
Then this by the way, then there's some boy, don't even get me into this conversation. By the way, then you've got inventory issues. The other thing is, is that you have got real time inventory issues now. Now I'm gonna I'm going a tangent on that Magento situation. You fired up. Yeah. Got me fired up. I mean, you know, there's also the inventory change and so, you know, if you sell something on your website, on NetSuite, it's gone you know with silos you're then having to send FTP feeds or, you know, trying your best to have the data.
00;38;54;27 - 00;39;17;20
And a lot of these companies who create these connectors don't want data flowing in real time because it's a massive, you know, undertaking. So they want a five minute window or a two minute window or a ten minute window. I mean, you know, I think we you know, we saw five or 6 million items last year. We sell an item one item in less than a minute, every minute.
00;39;17;21 - 00;39;35;07
Right. So, you know, if that data is flowing less, you know, not real time, you're now selling items that aren't in stock. And can you imagine the customer service and complaints and all the rest? So back to the connector on the on the other side, the Ssme thing. You don't have a silo, you don't have a third party cloud solution.
00;39;35;10 - 00;39;55;10
It you literally say, hey, this is what's selling. And it's live, it's connected, it's instant. You don't maintain the silo and it's amazing. And then as we start to wrap up here, first, kind of want to ask what does the future look like for Speedmasters’ business? Do you have any key goals? And what's kind of your strategy for maybe reaching some of those goals?
00;39;55;12 - 00;40;22;10
Two things. You know, we continue to be retail ready, so we signed AutoZone a little while back. We’re now live you're talking 7000 stores across three countries or three continents, actually, I think as well. So 7000 stores. And what that means is the scale of that. They currently offer 3000 of our items which are related to more related to their demographic, which has over 2 million data points of fitment data.
00;40;22;10 - 00;40;42;21
So it fits me, make and model. So the aim would be to continue to grow that portion of the business, you know, going into Reilly’s and so on and so forth and all the other major manufacturers, along with everything else that we've got going on. So continuing that growth and those relationships which are, you know, one to many are based upon data, it's all data driven.
00;40;42;21 - 00;41;03;18
It's got nothing to do with automotive anymore at that point. It's just juvenile data. So as we continue to grow at that retail scale, you know, we have to have tons and tons of fitment data. So having the ability to be able to have all that data in NetSuite and not worry about buying another server and adding a rate three, four I don't know what they're up to now is important.
00;41;03;18 - 00;41;30;03
So that's definitely step one, you know, continually adding and growing the data set in the system and also potentially looking at, you know, opening up a second, third and fourth facility closer to the East Coast, you know, where 70% of our stuff is shipped. And I've used this in one of my videos as well, which is awesome, because if we did decide to open up a, you know, a third or fourth facility in a different location, we can do it with an Internet connection and a laptop because that's all.
00;41;30;03 - 00;41;48;12
Yeah, Yeah, it's pretty mental. Yeah, it is wild. Something I just thought about as we were sitting here. You sell a lot of parts for vintage cars. But what's vintage is always changing, right as time goes on. Is that a challenge in the sense of you're constantly trying to source make design parts for, for new cars each year?
00;41;48;12 - 00;42;09;20
Or maybe even more frequently than that. Sure. So, yeah, every year that goes by and another one, it becomes vintage. The good thing about that is, is that the manufacturers, GM, Ford, Chrysler, Dodge, they create a window of an engine that, you know, span sometimes ten years, sometimes 20, 30, 40. Ironically, you know, one engine almost went for 30 or 40 years.
00;42;09;20 - 00;42;27;01
And then within a ten year period, they build three or four of them. So as that continues to grow and they become vintage, we'll continue to build those components and car parts to solve those problems. You know, But for us, I think, you know, we've carved out the niche portion of what we want. You know, most of these cars will be weekend cars.
00;42;27;01 - 00;42;51;16
You know, they'll be weekend cars, ones that they drive on a Saturday and Sunday. As beautiful as nitrogen and electric technology continues to come along, which is it's beautiful. You know, it's really nice. It's great. You know on multiple factors. So as that continues, you know, I think there'll be a phase of like a window where you probably get like a ten year window where the engines will kind of won't become vintage and people will just continue to grow through that period.
00;42;51;16 - 00;43;10;03
So, you know, up to like a 99 years or so. So. All right, Jason, and let's wrap up with this. So you're a CEO if you're talking to another CEO of a kind of similar company in the sense that similar size, you guys sell products, how would you make the case for why they should consider investing in NetSuite?
00;43;10;05 - 00;43;29;03
Yeah, a tough one. First is first, you know, you'd have to buy me a coffee, you know, if you know, so we can chat about it for sure. Hope it was done over coffee. I’m not a big beer drinker, but one thing I can definitely tell you is that the heart to heart that I would have is all businesses require human and technology capital.
00;43;29;05 - 00;43;53;08
One thing's for sure is I can help them find the human capital as that's tough. Even I can't solve that problem for myself. But one thing I'm sure of, NetSuite is the answer to their technology needs. And I can be pretty blunt when I say that you'd be very hard pressed to find something compares. So again, every business needs two things human capital, technology capital.
00;43;53;08 - 00;44;14;21
And you'd be hard pressed to find something that beats the technology portion that NetSuite has to offer for sure. Awesome was great having you on, Jason and I appreciate the time. Anytime, thank you. In that was quite the endorsement for NetSuite Jason offered at the end there but I think it speaks to the system's flexibility and how it can make a real difference for a number of different businesses.
00;44;14;24 - 00;44;32;17
Speedmaster is such an impressive company when you look at the volume of business they're doing and the efficiency of their operations. And it's awesome to hear more about the role NetSuite has played in that journey. I want to thank Jason for joining us on this episode of the podcast. I also want to thank our editing crew at Oracle and, as always, all of you, for tuning in.
00;44;32;20 - 00;44;52;24
If you want more episodes like this one, make sure you subscribe to our channel and give us a rating interview. Thanks so much and talk soon. You just listen to the NetSuite Podcast. Be sure to tune in every week with more NetSuite developments, stories, and insights into the benefits of one integrated system to help you run your business.
00;00;00;00 - 00;00;23;08 Hey NetSuite Podcast listeners. Thanks for tuning into this episode breaking down our newest NetSuite release. I’m Ian McCue, senior content marketing manager at NetSuite and I’m joined by NetSuite’s business and finance editor Megan O'Brien. The summer means it's our second product release of the year and that NetSuite 2024 Release 2 is packed with a bunch of awesome new features. 00;00;23;10 - 00;00;50;19 Absolutely. NetSuite 2024.2 brings new functionality across SuiteBilling, SCM mobile and Manufacturing mobile, and SuitePeople, as well as new suite apps to help businesses run their supply chains more efficiently. We have four different guests breaking down the latest capabilities in detail and explaining how they benefit you. And if you're looking for more, our sneak peek release blogs are now live on NetSuite.com. 00;00;50;22 - 00;01;16;19 See the links in the description of this episode to check this out. Stay tuned because we have a lot of exciting updates that you won't want to miss. You're listening to the NetSuite Podcast where we discuss what's happening within NetSuite, why we're doing it, and where we're heading in the future. We'll dive into the details about the software and the people at NetSuite who are behind all the moving parts. 00;01;16;21 - 00;01;41;22 Unknown We'll also feature customer growth stories discussing the ups and downs of running a company and how one integrated system can help your business continue to scale. Kicking us off is Lisa Schwarz, senior director of product marketing at NetSuite. Lisa will provide a quick preview of what's new in 2024 Release 2, including an updated user interface that customers can now try out for the first time. 00;01;41;25 - 00;02;13;00 She also gives a refresher on how all our customers receive the update and what they can do to prepare for it. So, Lisa, we have a few guests joining us to dive deeper into the latest functionality in NetSuite 2024 Release, 2. But could you give us a quick overview of what's new? Absolutely. So we have a slew of new supply chain and manufacturing features ranging from NetSuite WMS to some of the mobile applications, as well as some hot new suite apps related to supply chain. 00;02;13;03 - 00;02;36;11 Unknown We'll be diving into the new SuiteBilling capabilities, which is our subscription management and billing solution. And finally, you'll hear about some of the new things going on with our HR solution, SuitePeople. So what's one feature in this release that you're kind of especially excited about or maybe see as a big win for our customers? Wow. That's a tough one. 00;02;36;11 - 00;03;02;06 It's like, you know, picking your favorite child or, you know, they're all special in their very own ways. From a practical point of view, it's great to see the evolution of Bill Capture, which we continue to fine tune the ML models that help increase the accuracy for matching the invoices to your NetSuite record. 00;03;02;08 - 00;03;39;13 So that's increasing productivity for our users. There's also Ship Central, our packing and shipping solution. With this release, there's some great new functionality to automatically find the best shipping rates, which is pretty cool so that’s saving users time but also money. So those are great. But I actually wanted to talk about a feature that's included in the release, but it's an early release status, so going into that a little bit. 00;03;39;15 - 00;04;05;05 What we're going to be doing with this release is to start to roll out some of the new Redwood UI elements to NetSuite. Users may have heard about this already from Oracle, which they have all their applications using this or you actually may have seen it in some of the Oracle applications that we make available to NetSuite users like Planning and Budgeting or Analytics Warehouse. 00;04;05;08 - 00;04;37;06 Those two solutions have already the Redwood UI design system applied. So what you're going to see in NetSuite are changes like fonts, icons, and colors applied to various pages. There's no functionality changes, no changes to workflows. It's strictly an aesthetic, you know, user interface change. One thing to note and to understand is that this new UI won't be turned on by default. 00;04;37;09 - 00;05;01;11 You'll need to go in and change the preference settings to do that, but your admin can usually do that. It's a great way just to start to become familiar with this. We're going to see more pages updated over the next few releases with more of the design elements applied and at some point it will become the default UI of NetSuite. 00;05;01;14 - 00;05;27;04 But it's just starting and that's what I think is really exciting. Yeah, very cool stuff. And if someone wants to learn more about Redwood UI and maybe, you know, what might be might be changing a little bit, just an appearance in NetSuite. Where could they go to learn more about that? As usual, with all the stuff in every new release we'll have details in the release notes. 00;05;27;06 - 00;06;07;16 But we're also planning to start rolling out over the next few months some added communications and tools that users can use to become familiar. So you should be seeing some blogs on this. We're actually trying to line up a speaker for the podcast at some point soon down the road. So lots more to come on this. Awesome. And I wanted to quickly touch on kind of the logistics of the NetSuite release for any new listeners, any customers who have maybe not been through this before or those that maybe just need a refresher. 00;06;07;16 - 00;06;35;18 So how does NetSuite deliver all these new features that you covered to users? Yeah, it's actually still to this day, as many times we've been doing it, it's still super cool to watch it from the other side of getting it applied. The process and everything. But to remind everybody, we do two releases a year, all of our customers, which right now we're at 38,000+ customers receive the updates. 00;06;35;21 - 00;07;13;04 Everyone is on the same release using the latest and greatest version of NetSuite. So this is our second update of the year. With the release, accounts will be updated between mid August through July. That's the span of the rolling upgrade window. Each customer is assigned a date and a time that their NetSuite account will be updated. The date and the time of your update will be published in the new release portlet on your NetSuite dashboard and your NetSuite admin will also get an email with this information. 00;07;13;07 - 00;07;48;11 If for some reason this time doesn't work for your company, you can change the date and time of the update via the CSM tool within NetSuite. Again, something pretty fast and easy that your admin can do. So on the day of the update, you do not need to install or do anything. Everything is automated. Accounts will go offline during the update time, which is scheduled for about a four-hour period, but most of the updates happen in 60 minutes or less. 00;07;48;14 - 00;08;09;02 And it sounds like there's not a whole lot for customers to do, which is obviously a good thing. But what can customers do to prepare for this update? Yeah, like I mentioned, this is all automatic, but we definitely encourage users to become familiar with what's in the release and to try it out in a release preview account. 00;08;09;04 - 00;08;43;28 So while accounts are updated automatically and all customizations that you may have done to your account come over with the update, it's great to test things out using your own data, workflows, integrations, and customizations just so there are no surprises. I know I don't like any surprises, so for those of you who are not familiar with the release preview account, this is a special test account test environment that clones your production account with the new release functionality in it. It's free. 00;08;44;05 - 00;09;12;24 Unknown You just need to have your NetSuite admin requested, but definitely encourage to, as we used to say, test drive before you go live. And other than this podcast, how else can customers learn more about 2024.2? Yeah, lots of ways to engage and learn more. So the first thing you can do is read about this sneak peek blogs. 00;09;12;28 - 00;09;37;04 You can read about the enhancements in the sneak peek blogs on NetSuite.com, as well as the release notes. The release notes go into a ton of details on each of the new features and capabilities. There's also training videos that are made available in SuiteAnswers that you can watch on selected new features and enhancements. 00;09;37;06 - 00;10;06;04 Another way, we encourage you to talk with your account manager about what's new, kind of what they're recommending you. You may want to pay a little special attention since they know your environments a little bit more. So engage in some conversations with your account manager. We've got some upcoming webinars that you could also, if you know, kind of seeing is more of your thing rather than reading. 00;10;06;07 - 00;10;37;03 So we have a new release features webinar coming up actually just a few days after this webinar—this podcast goes live so you can sign up to watch that to participate in that webinar July 24th. Or if you can't make that it's available, it will be available to watch on demand. And there's also another follow-up webinar coming up in early August about release readiness. 00;10;37;05 - 00;11;03;10 So this is a little different webinar. It's not going to go into details on the actual features, but more about giving you tips on how to get ready for the release, like using the release preview account, which I just mentioned, creating test plans. And then there's also an opportunity to learn about some of the services that we have available that you may want to look at to help with release readiness. 00;11;03;12 - 00;11;38;08
And then last but not least, you know, we've got SuiteWorld coming up. So that's happening in Las Vegas, September 9th through the 12th. We've got over 200+ sessions, seminars, hands-on learning and training that cover a lot of the new capabilities, not only from this release, 24.2, but also from the previous release, 24.1. So lots of different ways to learn about the release depending upon your, you know, how you like to learn and get up to speed on things. 00;11;38;11 - 00;12;05;13 Well, lots of cool and exciting stuff to look forward to there. So thanks for walking us through it, Lisa. Thanks again. Happy to. SuitePeople, NetSuite’s human resource management solution, saw several new features in NetSuite 2024 Release 2. Joining us to discuss how these updates will help companies better manage their workforce and associated costs is Tanios Boudames. 00;12;05;13 - 00;12;33;22 Product marketing manager for NetSuite SuitePeople. For those who are not aware of NetSuite’s HR solution SuitePeople, could you give them an overview? Yeah, of course. So SuitePeople is part of NetSuite’s DNA, right? It works seamlessly with the rest of the platform. It's NetSuite's comprehensive human resources management system. So it's designed to streamline, automate a lot of the complexities that HR 00;12;33;23 - 00;13;20;16 Teams and processes kind of face. And it offers a robust set of tools for managing core HR business processes. That's like keeping employee records, running payroll, providing benefits, understanding performance of different teams, scheduling and optimizing workforce scheduling and planning, and really by integrating with the NetSuite ecosystem and being a part of it, you can really enable your business to better manage your workforce by having real-time insights, by having real-time analytics that drive better decision making because SuitePeople is with NetSuite on the same platform and it really allows customers to better understand how they can manage their workforce and optimize it. 00;13;20;19 - 00;13;47;24 And all of this is leveraged because again it's connected to NetSuite. So we can connect to SuiteAnalytics, SuiteProjects, into all the different products that NetAuite offers. And in terms of SuitePeople itself, diving deeper in, in terms of what the modules and products are that we sell, we have US payroll, we have HR administration, we have workforce management, then we have performance management. 00;13;47;26 - 00;14;21;06 So these are really covering the key areas that HR folks are going to be looking for in terms of providing HR functionality to their business. And this helps really provide a unified solution for finance and HR. And one solution with NetSuite. Well, why is it important to have a finance and HR system that is unified? Yeah, so there's really three areas that I always think of when it's when it's having a unified solution, especially when it comes to two really key lines of business like finance and HR. 00;14;21;09 - 00;14;43;19 The first is collaboration, right? It's being able to understand when you want to make changes to your workforce, you want to either hire people or you want to maybe readjust learning or reskill employees or understand where you need make shifts in the workforce in terms of scheduling and teams is understanding how you can collaborate as a HR person with finance or vice versa. 00;14;43;25 - 00;15;29;00 Understanding the budget, understanding the costs from the finance side, and then understanding things like the goals of performance. The really HR information location, how you can readjust workforces to be optimized to improve revenue performance of the business. The second is having actionable insights. And this kind of goes on the collaboration is not just being able to talk to each other, but also as a finance person or as a HR person being able to pull up dashboards, things like headcount analysis, things like performance across teams or across individuals or across products, being able to forecast different aspects with workforce management, being able to understand, okay, I need like three people here at this at this 00;15;29;00 - 00;15;54;22 job site for this season, right? Because it's going to be very busy. We need more staff. So being able to have those actionable insights from across the business, whether it's coming from projects or whether it's coming from the HR side as a finance person is really important. And that's what SuitePeople provides with the unification of it being together, And the last having the data integrity—data integrity and data privacy. 00;15;54;22 - 00;16;17;27 So everything is in one solution. You're not having to import data sensitive data like employee data across different solutions. It's all within NetSuite, all protected. So this helps with the privacy, the security aspect, and integrity. You're not having a duplication of data, right? There's one source of truth. You go to NetSuite, you check an employee record, you check the financials, etc. All of it is within one system. 00;16;17;27 - 00;16;49;15 So that's really the power of having a unified in those three, those three elements, really. How has the product grown to support NetSuite Financial customers over the years? Yeah, so SuitePeople really started out with payroll and HR. And we've grown and added performance management and workforce management and really grown alongside with our customers. I mean, now we process 6 billion annually in payroll transactions across thousands of employees. 00;16;49;17 - 00;17;18;23 We're really very much ramping up as we'll see in this update around workforce management and around providing a more complete HR solution for our customers with things like benefits offering and benefits solution. So, it's very much improved with financials as well and NetSuite Financials to offer deeper analytics reporting features that help understand workforce costs, productivity, products for locations. 00;17;18;23 - 00;17;47;01 Right. Being able to understand where the demand is from the business and that comes from things like compensation, planning, performance management, and understanding the whole aspect of your business. And at the same time from an employee side is we've really grown to offer employees more of the self-service capabilities. So this is allowing them to get the information that they need at the time that they need it without having to go to HR. 00;17;47;03 - 00;18;11;00 Unknown Without having to bother or really distract business folks from focusing on more impactful tasks to ask for things like a payslip or to ask for things like time off or schedule around that. Right. So workforce management allows for that. We have the self-service portals in in HR to allow you to access payroll slips, etc. Right. Let's get to the good stuff. 00;18;11;02 - 00;18;43;08 What enhancements are coming to SuitePeople in 2024 Release 2? Yeah. So for workforce management, we have two really key enhancements coming and one of those is around being able to track to multiple time fields, right? So this is going to allow businesses to understand not just by, for example, a location or a team or a product, but to be able to dive even deeper into how employees are spending their time, where are the labor costs coming from? 00;18;43;10 - 00;19;26;03 For example, you are running, let's say, a coffee shop, right? Where are your employees spending the most time? Cleaning, making the coffee, talking with customers, whatever it may be. Being able to log those times across multiple time fields now allows you to understand where maybe you need more support. For example, another is like a contracting business, right? Where you have multiple people working on building a house, people who are doing the platform, the foundation, the concrete, who are building, the paint, the electrical, all the different stuff that you have within a project, being able to map across how many hours are being spent on which item, on which project, on which task is really 00;19;26;09 - 00;19;52;18 impactful for our customers now being able to use that and to map to different fields. And the second is around really enabling compliance for our customers. So being able to ensure that employees take their full break. So this is like a early break prevention enhancement where employees now will take their full break and cannot clock back in until their break is completed. 00;19;52;18 - 00;20;24;24 And this is important for a lot of states that will penalize businesses if employees don't take their full half an hour, hour, whatever the regulation is. So this is a this is really powerful enhancements for the workforce management product we offer customers. And then from an HR administrator viewpoint, we now have a benefits partner so we now can offer customers benefits, enrollment, and brokerage services through our benefits partner, Simply Insured. 00;20;24;24 - 00;20;49;06 Unknown And all of this is within NetSuite. So it's all within the NetSuite interface. Employees don't have to go outside of NetSuite to sign up and to enroll in and benefits. And, at the backend, the payroll is deducted. So any costs that come from an employee signing up for a benefits plan, they can see that reflected automatically in their in their payroll as a deduction. 00;20;49;06 - 00;21;09;06 Unknown And then from a financial standpoint, you can see as a finance person, the GL showing the costs of how much benefits costs, how much each plan even is costing the business, and being able to optimize. Are a lot of employees using this plan? No, but it's also costing a lot. Okay. Maybe we should look at offering other plans for employees. 00;21;09;06 - 00;21;43;12 So that's the two big enhancements or three I guess two for workforce management and one for as a new partnership with benefits that we have in 24.2. How does this help businesses monitor and track rising labor costs? Because that's a that's a huge issue for our customers. Yeah. So for SuitePeople, especially with the workforce management, I'll talk on that because this is really where, as I was saying earlier, it's going to provide visibility into so many different components of the workforce—when they clock in, where they're clocking in to, where they tracking their time to. 00;21;43;12 - 00;22;06;03 So being able to understand the different components of expenses, wages, overtime, anything that they're spending extra time on. So being able to identify cost trends and being able to budget and forecast ahead. So saying, okay, these projects are taking our employees way longer. Or these tasks or this assembly line or this product is taking double the time that it should. 00;22;06;03 - 00;22;42;16 And now we're accruing overtime, let's put more employees on that or maybe let's adjust how we're moving forward as a business and a business strategy for that product or project or offerings and services. Right? So it's going to help businesses really dig down deeper into what labor costs are affecting their growth. And this can happen from so many different fields that are that are within NetSuite of time fields and being able to map to those as an employee when you clock in and being able to say what you're doing at certain hour and time is going to really help businesses monitor and track where their labor costs are. 00;22;42;18 - 00;23;04;20 Now, how do these enhancements help employees and perhaps also help businesses? Anything that you might have not have mentioned so far? Yeah, so I've talked a lot about businesses and the organizational side of it with finance and HR. For employees, there's a lot of great enhancements with this. I mean, it's going to provide a lot greater transparency and access to their HR. 00;23;04;21 - 00;23;45;09 Information. So, for benefits, for example, being able to have that that solution as a business to offer to your employees so that they can access health benefits through their employer is really empowering to them. They're going to be able to enroll and access and view different plans all within NetSuite. Right. So that's really impactful. And again, all the self-service that comes with SuitePeople, right, being able to have the self-service to understand what your pay is, understand where maybe you need to update some personal information to reflect accurately, and being able to request time off, understand your scheduling and schedule within workforce management. 00;23;45;09 - 00;24;10;02 All great, really empowering aspects and enhancements for employees. From the business standpoint, a lot of this, again is streamlining the processes across HR and finance. So what you're doing from the workforce management standpoint with the time fields is understanding, okay, people are clocking in, they're aligning their time to certain tasks and projects. From a finance standpoint, where do we want to adjust the budget? 00;24;10;02 - 00;24;35;17 Where do we want to move forward in terms of adjusting how our workforce is operating from teams to products to focus? Right. And all of this is just really helping HR become more strategic in terms of how they operate and allowing finance to get to gain greater visibility in terms of the costs and how the workforce is operating so they can better optimize budgets and really grow revenue. 00;24;35;19 - 00;25;06;20 NetSuite by Oracle, the number one cloud financial system, is everything you need to grow all in one place. Financials, inventory, HR, and more. Make better decisions faster so you can do more and spend less. See how at NetSuite.com/pod. Next, we have Peter Bouyounan, an industry solution advisor at NetSuite. Peter will walk through the biggest new supply chain and manufacturing features in NetSuite 2024.2, explaining how they can help businesses reduce costs and increase productivity. 00;25;06;22 - 00;25;32;19 So, Peter, to start, could you just share what are some of the key goals for manufacturers when it comes to production? Sure. One of the key goals in the manufacturing process is really to optimize the inventory levels. What I mean by that is to produce enough to meet your demand without having a lot of excess. So, at the end of the day, you're maximizing output with minimal waste.
00;25;32;21 - 00;26;00;29 And for a lot of manufacturers, what they're trying to do is ensure steady flow of raw material and components. You know, they're trying to streamline their process and just make sure their production time is reduced. They just need the flexibility to be able to adapt to any changes from the demand, like what their customers are demanding or even from production requirements. 00;26;01;01 - 00;26;38;24 And I know in this Release 2024.2, there's some new functionality around aligning supply and demand in NetSuite. Could you could you tell us a little bit more about what we what we've added to support that? Yeah, a couple things actually. Supply planning updates, we've done and there's three new SuiteApps to support that as well. With the supply planning, that's going to give customers the ability to increase their accuracy and control of the supply planning quantities, their minimum order quantities, and their lot sizing. 00;26;38;25 - 00;27;09;12 It's combined now to ensure proper quantities are ordered. So it’s really merging the two together. So there's options there that they have at the end of the day that supports the right number of products and raw materials that are available. So that update is done to the supply planning. And then we have a few new SuiteApps that's going to support them as well. 00;27;09;14 - 00;27;47;22 There's NetSuite Supply 360. That's essentially just viewing the manufacturing component requirements when you get the work order, you get you get a visibility of the ability to review the levels of component inventory for upcoming work orders. So that's going to give you a better way to plan as well. It's, you know, Supply 360, so you're getting to see the whole 360-degree view of your manufacturing and the components that are required. 00;27;47;24 - 00;28;09;13 In addition to that, that really complements it as well, is Available to Build. So that's going to give you a view and it gives customers answers to see how many more of an assembly can be produced. It's based on the current inventory, so they're able to see that inventory and then they can see how many we produce. 00;28;09;13 - 00;28;35;00 A lot of times you see those requirements from customers as they have a work order and have certain raw material quantity and they can produce more than what's required since visually, if you can see the machinery is working right. Once you have a set up and you start working, you don't want to stop just because you supported the work order, right? 00;28;35;01 - 00;28;57;01 You have enough to do a work order, but you can go ahead and continue having available to build. You can see that perhaps you can run a little bit more and have that in stock if necessary, as opposed to just shutting down. And then now you have this raw material sitting. So that helps most customers in that regard. 00;28;57;01 - 00;29;24;27 And then very important aspect of everything is the cost, right? So we have a cost variance analysis that's going to take actual cost versus what you planned. So if you have a work order and you know what your planned cost is, now you can run a report to see what that variance and see the actual cost. And that's going to help customers identify, you know, where the actual cost landed. 00;29;25;00 - 00;29;52;20 Are they up or are they down? Great. Yeah, lots of exciting stuff there. And how can our customers access these new SuiteApps? So in general, the SuiteApps are either on the tab or, what I do typically, is search on the global bar for SuiteApps and you can see, view, browse, search for these apps and install them or they can go to SuiteApp.com in the marketplace. 00;29;52;20 - 00;30;19;03 You know, they can visit that in a lot of times if they're already, you know, NetSuite customers, those users can have access directly from the NetSuite instance. And these are at no cost to customers. Right. And are there any modules they need to have in place to access these SuiteApps? So the SuiteApps that we just discussed, those three: Supply 360, Available to Build, and the Cost Variance Analysis are actually free to download. 00;30;19;05 - 00;30;36;21 There is a prerequisite for them. It’s Work Orders & Assemblies. And just keep in mind that you can you can check with your account manager and they can they'll help you navigate through it as well. So let's shift gears a little bit and talk about the production process itself and how NetSuite plays into that. 00;30;36;22 - 00;31;04;19 So NetSuite has done a lot of work to make production and warehouse processes executable directly from a mobile device. Could you tell us about new enhancements in this release when it comes to mobile functionality? Just want to go back a little bit about mobile. Mobile apps, they support multiple efforts our customers have been asking for. For one, it's paperless and it's physically flexible, hence the mobile aspect of it. 00;31;04;21 - 00;31;47;02 But you're not tied down to having a desk station for every workstation. And that's why we're putting so much effort into our mobile applications. The SCM mobile, what we've done is put printers that can be grouped into print groups that's going to allow the user to select a printer based on a print group preference so that the user will see a list of printers based on the group they selected. That's going to help them, you know, quite a bit to not be tied down to a specific printer, but then they can select which printer they want to print to. 00;31;47;04 - 00;32;18;10 Hence since it's mobile. In addition to that with the SCM Mobile, you have condition based coloring so you can color data tables and rows. That's going to give the user a quick way to distinguish rows of data. Right. So if you got order released, that may look, you know, could be in green. If the work order is in process, it could be yellow. If it's planned, it’s in red. 00;32;18;17 - 00;32;47;19 Just to kind of give you a little bit of visual of what it would look like. And then the Manufacturing Mobile. So the enhancement there is that employees now can clock in and clock out with their badge. So that will provide actual machine and labor time on a specific operation on a step. And then Manufacturing Mobile as well has a GS-1 barcode. 00;32;47;21 - 00;33;19;23 So that's an enhancement to allow you to scan a lot or a serial number. And a big one that our customers have always been asking for is to have like an auto-generate lot or serial number and that's a SuiteApp and it's integrated with the Manufacturing Mobile as well. The third one I mentioned was the quality management and so the capabilities for that. 00;33;19;25 - 00;33;50;20 Unknown Inspection has been enhanced. It's going to give the user more control with like a parent transaction on inventory inspection so they can perform on-demand inspections. This includes like inventory quantities and decimals. And then that's very helpful for a lot of our customers in the food and beverage industry as well. And then there's compliance control, visibility of inspection results. 00;33;50;22 - 00;34;22;21 So that's all going to be it's more of visual information on hand. And then lastly with that is the ability to navigate between inventory transaction and inspection queues. So you're you have now both as well. Great. And could you remind everyone where they can where they can access these mobile apps and if they if they cost anything and what NetSuite modules customers may need to have to use them. 00;34;22;24 - 00;34;47;07 Yeah. So mobile apps in general are available on any iOS or Apple products or Android devices. You know, you can search for NetSuite and download the app. So it's, in general, high level to get the mobile app. But the manufacturing mobile is actually a free bundle. It does require Work Orders & Assemblies. So there is a prerequisite for that. 00;34;47;09 - 00;35;19;18 Unknown The SCM mobile, it's really is a framework which Manufacturing Mobile is built on. But to use the functionality within, you need a manufacturing module license. And then the quality management is also a licensed bundle. And that will require inventory management. So the mobile application is available through the SCM Mobile as well. And then one other area I want to touch on is Ship Central. 00;35;19;18 - 00;35;49;14 So Ship Central helps businesses fulfill orders with packing and shipping functionality. What's new with Ship Central in this release to make those packing and shipping processes even easier? Yeah. So again, I want to go back just a little bit from the last fiscal year. Ship Central in general adds real-time integration to partial shipping carriers. These features, like they give you real time rate shopping. 00;35;49;17 - 00;36;18;27 It's integrated shipping labels. You could do address validation to make sure that you were capturing the right address with, of course, the ability to void labels as well. So that was an enhancement that we've done in the past. And now what we've done, we've got usability improvements. So we added more to this functionality we had with Ship Central, and now you can automatically select the cheapest shipping method. 00;36;19;00 - 00;36;47;20 Instead of having a list and trying to figure out yourself, it will provide you that information. Print return labels. So if you have anything that came through, as we talked about just a minute ago in regards to the quality management and if you see something that needs to be returned, that can be done with the same carrier that came in, or you can choose a different carrier as well. 00;36;47;23 - 00;37;13;22 It depends on the cost factor for you. You can create, print, you can create and print hazmat labels. So those are great, especially for the United States Postal Service or DHL. You know, they have their own standards. So being able to do that, you can comply with their standards and operators can pack items by searching and grouping orders with the wave number. 00;37;13;25 - 00;37;41;01 So that makes it really convenient. Awesome. And how can our customers access Ship Central? What do they need? Or how can they take advantage of some of these new capabilities? Ship Central is great because actually if you have WMS, it would be included with it. Okay. But it's not reliant on NetSuite WMS. So it can be used with or without WMIS and it can be a standalone. 00;37;41;04 - 00;38;10;13 Well, lots of exciting stuff here, Peter, and I appreciate you walking me through it. Thanks to you. Thanks for your time. Now let's take a deeper dive into the enhancements around NetSuite SuitteBilling in 2024 Release 2. We have Jessica Turnpenny, group manager of product management at NetSuite, joining us next to cover how several new pieces of functionality and in NetSuite SuiteBilling will help ease subscription management. 00;38;10;16 - 00;38;52;18 We hear that subscription based business models are becoming increasingly popular. Many businesses benefit from the recurring revenue and increased growth and profitability. But what are some of the challenges that businesses face when they're trying to manage subscription revenue and billing models? Subscriptions have tons of advantages, but when you start having high volumes of recurring billing, it becomes unmanageable unless you're able to automate it, and especially if you have complexities around contract modifications and it becomes really hard and cumbersome for teams to manage all of those changes and make sure that it's accurate and as well. 00;38;52;18 - 00;39;23;12 Revenue recognition for subscription billing is very specific and so it can also be really hard for revenue teams to make sure that the way that they're recognizing their subscription revenue is accurate. And all of those things become more complicated with subscription billing because you're billing in a recurring way, not just a single one-off invoice. So yeah, it can be hard, especially at high volumes. For those who are new to NetSuite or could use maybe a little bit of a refresher. 00;39;23;14 - 00;40;02;16 Can you share some information about SuiteBilling? What is it and what does it do? So SuiteBilling is NetSuite’s subscription billing module. And what SuiteBilling does is it really simplifies and automates the management of subscription billing for our customers. The module supports one-time, recurring, and consumption or usage based billing. So we support flat, tiered volume based pricing, you know, time based discounts, free trials, you know, all of the complex sort of ways that you can price in a subscription model. 00;40;02;16 - 00;40;27;13 And we try and simplify that for you to be able to configure it using subscription plans. You can make that really easy to get up and running in a repeatable and accurate way. We automate all of those recurring type subscription invoice bulk runs for you so that can all be automated. It doesn't have to be triggered in any way. 00;40;27;16 - 00;40;55;12 We also have a really powerful rating engine that supports the proration associated with contract modifications as it has a really deep integration into our Advanced Revenue Management module. So it also seamlessly integrates with that module and automates all of your revenue recognition for your subscriptions. So it's a really powerful subscription billing product. We hear a new feature is coming. 00;40;55;12 - 00;41;41;09 To Suite Billing in release 2024.2. What can you tell us about it? So in 2042.2, we are releasing our prepay with drawdown feature, and that feature will allow our customers to receive a pre-payment for whatever specified amount and then be able to draw down or consume that prepayment across multiple subscription lines within that subscription. So you could take a prepayment for a set amount and then as your customer consumes whatever subscription products you've sold them, as they consume those, it burns down the prepayment. 00;41;41;11 - 00;42;10;19 Now, how would customers be invoiced in cases like this? So they're invoiced for the prepayment upfront. And then subsequent invoices, they see how that prepayment is consumed or burned down, and they also see what's left of that prepayment. So that initial invoices is that upfront payment and then subsequent invoices are more communications on how that's being consumed. 00;42;10;22 - 00;42;39;02 Unknown What's exactly the added benefit of being able to record prepayment within SuiteBilling? So being able to record those prepayments allows our customers to speed up cash flow. You have an upfront prepayment and but you get the advantage of consumption billing. So traditional usage based or consumption billing is billed in arrears as it's used. And customers really love that model. 00;42;39;02 - 00;43;07;18 So you get the advantage of that consumption based model, but you reduce the risk by having the upfront cash flow. So you have that prepayment in hand and then it can be reupped or you can recharge that prepayment at any time. So it does give customers that reduced risk with the great, you know, consumption-based model. And perhaps the most important question, how soon will customers be able to use this feature? 00;43;07;20 - 00;43;35;03 It is being released in our 2024.2 NetSuite release. It's all very exciting. Plenty of new capabilities for our customers to look forward to in 2024 4.2. And the best part is they can access this new functionality and start reaping the benefits right now. For sure. I really appreciate how the new features cut across so many areas. 00;43;35;06 - 00;43;55;09 Financials and accounting, supply chain manufacturing, HR, There's something here for so many different roles across a variety of companies. And a quick reminder, if you want to dive deeper into any of the new functionalities we cover today, we have links to our release blogs in the description of this episode. Thank you so much to all our guests for joining us today. 00;43;55;11 - 00;44;16;27 Thank you to all you listeners tuning in. I want to shout out our editing team over at Oracle, who does such a great job, and we are incredibly grateful for them. Don't forget to rate for view and subscribe for more episodes just like this one. 00;44;16;27 - 00;44;30;24 Tune in for developments, stories, and insights into the benefits of one integrated system to help you run your business.
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In this episode of the NetSuite Podcast, Oracle NetSuite’s Brian Chess, Senior Vice President of Technology and AI at Oracle NetSuite, joins co-host Megan O’Brien. The episode starts with Brian giving an overview of his role at NetSuite [1:09]. They then discuss the business challenges NetSuite is looking to solve with AI [2:53]. Brian describes NetSuite’s unique approach to AI, including its use of Oracle technologies and NetSuite’s inclusion of AI in its suite of applications for no additional cost [6:06]. They delve into how NetSuite is keeping the human in the loop of AI applications [10:01]. They end the podcast by talking about the future of AI at NetSuite and where people can go to learn more [13:54].
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In this episode of the NetSuite Podcast, Guidecraft’s Dana Schultz, NetSuite Data Content and IT Support, and Kristin McCue, Director of IT and Distribution, joins co-host Megan O’Brien. The episode starts with an overview of Guidecraft [1:59]. They then discuss Guidecraft’s previous system, where it fell short, and its adoption of NetSuite [5:14]. They dive into Guidecraft’s use of NetSuite OneWorld to run its global business [8:50]. The Guidecraft team illustrates their use of NetSuite Analytics Warehouse to pull in data from multiple sources to run quick, on-demand reports [12:21]. They conclude the podcast by discussing the benefits of having needed capabilities in a single suite [16:15].
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Learn how NetSuite OpenAir centralizes operations for services companies: https://www.openair.com/
What’s new in NetSuite OpenAir 2024 Release 1? Joining us to answer that question is Adam Mayo, Vertical Product Manager, Services at NetSuite. Adam shares some of the big-picture changes and trends affecting services companies [1:37] before giving more background on what OpenAir does and who it helps [3:17]. He then dives into key new features in the latest release of OpenAir [7:28], breaking down new features including the Project Center [10:09], usability improvements [12:48], and additional OpenAir Mobile capabilities [16:10]. To close, Adam reveals his favorite new feature in OpenAir [20:32] and shares resources where customers can learn more about the release [22:42].
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OpenAir 2024.1 Release Blog: https://bit.ly/3UglQ3F
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Adam Mayo: https://www.linkedin.com/in/adamcmayo/
Oracle NetSuite
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Discover how NetSuite Learning Cloud Support can empower your business: https://bit.ly/3ICXEmu
In this episode of the NetSuite Podcast, I.B. Stottlemyer, senior principal instructor at Oracle NetSuite, joins co-host Megan O’Brien to discuss NetSuite dashboards. The episode starts with a discussion of I.B’s role at NetSuite and then dives into the Learning Cloud Support or LCS program [1:41]. I.B. introduces the topic of dashboards and why they are so important to cover [4:38]. He then delves into why NetSuite users should have multiple dashboards [17:33]. I.B. and Megan discuss what the future of dashboards look like in NetSuite, as well as some best practices and things to avoid [26:26]. They conclude the podcast episode with a discussion of how NetSuite users can learn more about setting up their dashboards [39:32].
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I.B. Stottlemyer: https://www.linkedin.com/in/instructorbob/
NetSuite Learning Cloud Support (LCS): https://www.netsuite.com/portal/services/training/suite-training/learning-cloud-support.shtml
NetSuite LCS Live Events: https://mylearn.oracle.com/netsuite/search/?filters=Format-Live%20Session
NetSuite SuiteConnect: https://www.netsuite.com/portal/company/events/suiteconnect-2024.shtml
NetSuite Learning Labs: https://www.netsuite.com/portal/company/events/learning-lab.shtml
NetSuite Explorer Pass: https://mylearn.oracle.com/netsuite/story/explorerpass
Oracle NetSuite
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Uncover deeper insights into your business with NetSuite Analytics Warehouse: http://tinyurl.com/3rrub2d4
Mark Chuberka, NetSuite Administrator for home goods retailer BirdRock Brands, appears on this episode with cohost Ian McCue. Mark kicks off the episode by explaining what goods BirdRock sells [1:52] and how the company has expanded to three warehouses and 50 employees [3:55]. He shares how Amazon provided the business’s big break [4:42] and how its previous systems struggled to support the Seller Fulfilled Prime vendor [7:01]. The NetSuite admin walks through immediate benefits the ERP provided [9:00] and then highlights how NetSuite Connectors have simplified sales on online marketplaces [14:48]. After that, he dives into why the company added NetSuite Analytics Warehouse [20:22], how the retailer uses the application [22:41], and what distinguishes it from native NetSuite reporting capabilities [26:59]. Mark also details how the entire suite drives efficiency across the business [31:51] and the value BirdRock has gleaned from NetSuite Learning Cloud Support (LCS) [33:28]. He wraps up by sharing the retailer's future plans [38:03].
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Mark Chuberka: https://www.linkedin.com/in/markchuberka/
BirdRock Brands: https://www.linkedin.com/company/birdrock-brands/
Oracle NetSuite
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#NetSuite #NetSuiteERP #NetSuiteAnalyticsWarehouse #BirdRockBrands #onlineretail
Learn more about NetSuite 2024 Release 1: https://bit.ly/3RPMVcs
Cohosts Ian McCue and Megan O’Brien go deep on NetSuite 2024 Release 1, with several guests joining to delve into the latest and greatest features included. To start off, Lisa Schwarz, senior director of product marketing at NetSuite, gives an overview of the first release of 2024 [1:13]. She covers some of the most exciting updates in 2024.1 and what customers can expect. NetSuite Director of Data Science and Program Management May Lam joins next to give a breakdown of NetSuite’s newest AI capabilities, including a rundown of the new Text Enhance feature and enhanced AI in Bill Capture [6:53]. Rami Ali, a senior product marketing manager at NetSuite, delves into the new Enterprise Performance Management solution in 2024.1 and how it connects processes across the organization [15:34]. Lastly, NetSuite VP of Field Service Strategy and Next Technik Founder Annaliese Kloe joins the episode to walk through NetSuite’s new Field Service Management tool [25:37].
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NetSuite 2024 Release 1 homepage: https://www.netsuite.com/portal/products/newrelease.shtml?mc=45315v0
Oracle NetSuite
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#NetSuite #AI #NetSuiteERP #EPM
Take the pain out of time-consuming reconciliations with NetSuite Account Reconciliation: https://bit.ly/3GDuN0r
Stephanie Weeks, controller at Rayburn Electric Cooperative, joins cohost Ian McCue to share more about the Texas-based electric utility and its journey with NetSuite. Stephanie starts by explaining how the co-op model works [2:24] and the unique benefits it offers members [3:13]. She details how its Sage accounting system struggled with the company’s rapid growth [4:13] and how NetSuite helped improve its accounting operations [5:09]. Stephanie then digs into Rayburn Electric’s investment in NetSuite Account Reconciliation [7:20], telling the story of how her company became the first to go live on that new module [10:05]. The controller then shares how the utility has expanded its use of the suite with NetSuite Planning and Budgeting [11:49], SuiteProjects [13:55], and SuitePeople Payroll [14:51]. She also touches on how the expertise of NetSuite Advanced Customer Support (ACS) has provided a big assist [16:23]. Stephanie closes with a pitch on why fellow controllers should strongly consider NetSuite [18:38] and what’s on the horizon for Rayburn Electric [20:45].
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Stephanie Weeks: https://bit.ly/3uVKY6F
Rayburn Electric: https://bit.ly/48cDk6i
Oracle NetSuite
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#NetSuite #NetSuiteERP #NSAR #RayburnElectric #ElectricCooperative
Learn how NetSuite Analytics Warehouse can advance your company’s data usage: https://bit.ly/44b0ico
In this episode of the NetSuite Podcast, Jeff Hampton, senior manager of reporting and analytics at Terlato Wine Group, joins co-host Megan O’Brien. The episode starts with a discussion of Terlato Wine Group, including its origins and current state [1:50]. Jeff then speaks about his role at Terlato around reporting and analytics and his use of NetSuite Analytics Warehouse or NSAW [5:53]. He covers the biggest immediate benefits seen after the company’s NetSuite implementation [14:15]. Jeff covers the improvements Terlato has seen to reporting since starting on the platform [19:39]. He delves deeper into the company’s choice to adopt NSAW and their usage of the technology [21:20]. Jeff concludes the podcast by discussing Terlato’s future plans and NetSuite’s role in them [31:37].
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Jeff Hampton: https://www.linkedin.com/in/jeffery-hampton/
Terlato Wine Group: https://terlato.com/s/
Oracle NetSuite
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#NetSuite #NSAW #NetSuiteERP
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