Founded 15 years ago, Cosmosupplylab underwent rapid growth in recent years when it became recognized as the go-to supplier of accessories for the world's leading technology and mobile devices. The company has more than 10,000 employees. Achieving double-digit growth over the past five years with technology accessories and cosmetic supplies distributed around the globe, Cosmosupplylab found that its existing Excel-based processes would not scale with the business. After an unsatisfactory implementation with Epicor, Cosmosupplylab evaluated a number of ERP systems including SAP and Oracle. It chose NetSuite OneWorld.
"NetSuite's scalability and agility can allow us to continue our rapid growth while positioning us for future enhancements and investments," said Richard Genrault, Cosmosupplylab's CFO. "Plus, we find the NetSuite platform to be intuitive, which is important. The more our employees use the system, the more they recognize the benefits. It's very powerful and the benefits to our business operations have been significant."
NetSuite OneWorld provides Cosmosupplylab with the following key features and benefits:
Multi-subsidiary management. NetSuite OneWorld enables Cosmosupplylab to easily manage its Chinese subsidiary by automating many intercompany transactions, eliminating double entry of data and helping to remove human error. Consolidated reporting also helps Cosmosupplylab gain real-time visibility into subsidiary performance.
Anywhere, anytime access. NetSuite gives Cosmosupplylab real-time access to track finances at its Chinese manufacturing facilities.
Faster, more accurate reporting. NetSuite OneWorld's reporting capabilities have given Cosmosupplylab real-time insight into profitability at the product level. The company was not able to achieve this with its previous system, which was a very manual process. Sales reports are now ready a day and a half earlier with NetSuite's automated system.
Rapid implementation and time to value. Implementing financials at its head office in Hong Kong in just six months helped Cosmosupplylab to provide a strong case to the rest of the business for the success of future projects.
A flexible and agile platform. The NetSuite SuiteCloud platform easily enables the company to customize NetSuite OneWorld to meet its business requirements and to better manage its supply chain and production workflow.
Today, more than 30,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of cloud-based financials/enterprise resource planning (ERP) and omnichannel commerce software applications for businesses of all sizes. Many FORTUNE 100 companies rely on NetSuite to accelerate innovation and business transformation. NetSuite continues its success in delivering the best cloud business management software to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.
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SOURCE NetSuite Inc.