SAN MATEO, Calif., Jan. 30, 2013 /PRNewswire/ -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced that Matrixx Initiatives has accelerated its financial processes, improved business analytics and visibility, and reduced its IT costs since implementing NetSuite. Matrixx, headquartered in Bridgewater, N.J., is the maker of the Zicam brand of cold remedies, available at Wal-Mart, Target, CVS and other major retailers. The company has reduced its software licensing costs by up to 75 percent and eliminated its in-house servers and the need for a full-time IT staffer to perform data backup since transitioning from JD Edwards, its previous on-premise ERP installation. Matrixx has also reduced its financial staffing levels due in part to the faster, more efficient financials management and sales reporting achievable with the NetSuite cloud. Monthly financial close times have been cut from 12 days to five as Matrixx progresses towards the goal of a three-day close. In addition, the company uses NetSuite to support its cost-efficient business outsourcing model, managing eight partner companies in the areas of contract manufacturing, sales, inventory and distribution, and accounts receivable. For more information on NetSuite cloud-based ERP, please visit www.netsuite.com/ERP_PR.
After it was acquired by H.I.G. Capital, Matrixx faced a costly upgrade to its outdated JD Edwards ERP solution. Rather than undertaking a painful upgrade, it evaluated several other solutions and selected NetSuite over Microsoft Dynamics GP (Great Plains) and Sage ACCPAC. Key drivers behind its choice included NetSuite's low-cost cloud architecture, a single enterprise data set, on-demand anywhere anytime access and a scalable platform to support growth through both potential mergers and acquisitions. NetSuite's cloud solution make it possible to onboard new business entities faster and at less cost than alternative approaches, and increase sales of its over-the-counter Zicam brand products for cold, cough, sinus and allergies at thousands of retail locations in the U.S. Matrixx executives and managers take advantage of NetSuite's business analytic capabilities and the ability to drill-down to transactional detail to monitor key metrics in near-real time, while and using the solution to generate reports to its parent company H.I.G..
"NetSuite allows us to do better financial analysis faster and more efficiently, and you don't need to be a Ph.D. to use it. It's very intuitive and I can drill down to details at a transaction level in a few clicks," said Sam Kamdar, Matrixx Chief Financial Officer and Chief Operating Officer. "NetSuite customer support has been absolutely outstanding—their availability, can-do attitude, and knowledge of the product is on par with the best of the best."
Today, more than 12,000 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 enterprise-class cloud business management suites for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations as demonstrated in a recent Gartner study naming NetSuite as the fastest growing top 10 financial management systems vendor in the world. NetSuite continues its success in delivering the best cloud ERP/financials suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud is accelerating.
For more information about NetSuite, please visit www.netsuite.com.