Europe Watch Group Selects NetSuite OneWorld To Power International Growth

LONDON, Oct. 11, 2016 /PRNewswire/ -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud financials / ERP and omnichannel commerce software suites, today announced that Europe Watch Group BV, the official worldwide distributor of the CLUSE and Cortese watch brands to customers and retailers in 120 countries, has selected NetSuite OneWorld to support its global expansion plans. Europe Watch Group plans to run its mission-critical business processes on NetSuite including accounting, financials, inventory management, order management, multi-currency, reporting and analytics.

Founded in 2013 by Ed Postmus and Rudyard Bekker and based in Amsterdam, Europe Watch Group is one of the world's fastest-growing distributors of timepieces that deliver both quality and value. The company is disrupting the traditional oligopoly in retail watches with strong brand identities and superior designs. But after starting the business with the Exact Online system, the company's management quickly recognised that the rapid growth of the company was limited by software constraints. Accounting, fulfillment, and ecommerce were siloed processes, leading to a great deal of error-prone, repetitive and manual tasks.

"The limitations of our software meant that our employees had to do many of the same tasks twice," said Rudyard Bekker, Europe Watch Group founder and CEO. "And the fact that we could not see live inventory at our fulfillment partners was a serious limitation."

After considering SAP Business One and Microsoft Dynamics, Europe Watch Group selected NetSuite OneWorld to become its central enterprise system of record. NetSuite OneWorld will give the company insights into manufacturing operations in China and fulfillment partner and warehouse inventories around the world. The company is planning to open warehouse locations in Hong Kong and the United States soon, and NetSuite's cloud architecture will make it easy to deploy to new facilities.

"NetSuite OneWorld will give us a portal for our entire business-to-business operation that will help us better serve our 2,000 retail partners around the globe, as well as the distributors and sales agents we work with," Bekker said.

NetSuite OneWorld can help Europe Watch Group grow and prosper with the following features and benefits:

• A broad range of robust international capabilities. Supports 190 currencies, 20 languages, automated tax calculation and reporting in more than 100 countries, and customer transactions in more than 200 countries, and enables businesses to streamline their mission-critical business processes.
• A scalable platform that can grow with the company. NetSuite provides a highly scalable platform for growth, with the ability to quickly and easily add functionality as Europe Watch Group enters into new markets or partners with new distributors.
• Efficient order management. Europe Watch Group will be able to streamline order management processes by centralising orders and efficiently processing them without double-entry.
• Real-time business visibility and business intelligence. With NetSuite, Europe Watch Group will gain real-time insights into key business performance indicators for a unified view of orders and sales performance, providing a single version of truth.
• Customisation capabilities. Customisation and integration capabilities within the NetSuite SuiteCloud development platform will help Europe Watch Group set up workflows to meet the precise requirements of key account customers such as Nordstrom, Lafayette, and Selfridges.

Europe Watch Group now sells over 1 million watches annually to fashion lovers and expects to multiply that volume in the near future. The centralised record keeping and analysis in NetSuite will make it easier for management to understand growth and demand patterns, and better respond to market opportunities.

"NetSuite is the solution we need to scale our business, connect with our customers and partners, and meet our urgent needs for greater integration and visibility," Bekker said.

About NetSuite
In 1998, NetSuite pioneered the Cloud Computing revolution, establishing the world's first company dedicated to delivering business applications over the Internet. Today, NetSuite provides a suite of cloud-based financials / Enterprise Resource Planning (ERP) and omnichannel commerce software that runs the business of more than 30,000 companies, organisations, and subsidiaries in more than 100 countries.

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SOURCE NetSuite Inc.

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