NetSuite for Medical Device Makers

00:05in today's webinar we will give you a quick introduction of luxent and netsuite followed by demonstration of the powerful features that netsuite has and we will close out with an overview of netsuite pricing and packaging if you have any questions as we move through this webinar um please put your questions in the Q&A panel and we will try to get to them either as they are asked or at the end of the webinar with that I would like to introduce you to our luxent team today we have Vivian Keena on the call luxent's president and CEO uh Vivian has been in the Erp space for over 20 years and knows the ins and outs of netsuite we also have Ben Katerberg on the call today our netsuite practice director and chief solution architect Ben comes to us with 10 years of Erp experience and a wealth of Industry best practices and finally myself Brook Gus a sales executive here at luxent with three plus years of experience in the food and beverage and medical manufacturing space all righty let's get started

01:08I'm going to pass it over to Vivian great thanks brick hi everyone thank you again for coming um just to give you a little bit on luxent um we were founded in 2009 we're located in Southern California but um support customers ac across the US uh celebrating our 15th year so excited uh to be doing that um we're a netsuite Premiere Solutions partner which is a little different than other partners so we do everything from help companies with the selection of netsuite licensing um implementation ongoing support and long-term um long-term relationship so we really act as you know your advocate in the selection and uh of the application and trying to help you long term with the best use of it um we're certified SuiteCloud developer so we also have some products on the netsuite app exchange and also the Salesforce app exchange if anybody has an interest in Salesforce um and um we have Integrations that we do for customers both on a custom level

02:11and then our own connectors that we sell uh along with netsuite um focus on startups and midm markets our whole um whole time that we've been in business manufacturing distribution service and software are the main verticals that we work in um and like I said um we're a Salesforce uh house uh we have a small team um netsuite comes with uh a a a very robust CRM um but for those customers there's many customers out there that either have Salesforce or have a desire to be on Salesforce um so those customers we do have a connector and integration to that and we can help them with those needs you can go forward oh that's my last side so with that um I'd like to introduce Ben Katerberg and he will um take you from here on a look at netsuite all right thanks Vivian um so uh just a real quick um introduction here um my name is Ben Katerberg Chief solution architect and director of our practice at luxent um

03:15I've been working with Erp for well over a decade with lots of different organizations of all different sizes different Industries I mostly have kind of specialized in manufacturing and distribution organizations um and I've got various uh Erp experience including sap and other Erp systems um and I've been on your side of the table as well uh looking for an Erp and hiring consultants and doing all of what you're doing now just from that perspective um so real quick just netsuite by the numbers um I just want to kind of highlight netsuite uh was the first Cloud Erp uh that was built it has always existed in the cloud they never had to go through any conversion of migrating uh on premise um structures over to the cloud it it was built on the cloud for the cloud um from the very beginning since the late 90s um originally it was kind of built as purely a financial system and over the years

04:21it's been built out more and more and more um to the full Erp capabilities with manufacturing distribution planning everything that you kind of hear netsuite as today in this time netsuite has over 37,000 customers around the world in almost every single country and um just in the last 12 months um they've they've gained over 6,000 new customers um so if you can see kind of that growth trajectory um everybody has really been getting on board with netsuite because the platform is so flexible um and and and you can start on it when you're small you can grow into it um even as an Enterprise level siiz organization U just to kind of give you a preview there are kind of industry vertical specific solutions that netsuite has some preconfiguration delivered for but many of the companies um that you see on here uh and and maybe even some of your uh your own companies

05:36they don't exactly fit in one particular vertical or the other um we have plenty of organizations who might be manufacturers at heart but they do a lot of distribution or they might do a lot of uh direct to Consumer so typically what we see is um most medical uh manufacturers um they really do fall in a lot of the manufacturing space but being on The netsuite platform you are able to kind of expand into other um types of distribution models and um verticals uh to give you a little preview on uh just some of some of our clients some other clients that are on the netsuite platform here there's just a handful of logos uh you might recognize some of these organizations yourselves all right you can jump forward here um so what I'd like to kind of communicate around you know some of the big benefits uh that businesses gain with netsuite is there's a lot of built-in flexibility

06:40there's some native business intelligence um so that netsuite really gives customers the full picture uh of their business all in one place centrally and you can access this from anywhere um anywhere with an internet connection you can log in and track real time information uh whether you want to have greater control over uh your organizational data and your uh control of your operations it's all built in interconnected uh so that um your financials are reflecting what's happening real time every day with operations um having all of this uh flexibility and control allows you to be very very quick in some of your decision Mak so companies moving over to netsuite become much more agile and can make decisions quickly and pivot um as needed and one of the huge huge benefits moving towards a centralized zp like netsuite is the collaboration tools so many times during implementation when we talk to companies they they want to focus on

07:53well how do I send emails I want to keep emailing people and yes netsuite does have kind of pre prebuilt Integrations with email capabilities but it's just so much more than that where you don't have to send emails to people in the organization anymore to say hey is my purchase order received yet all of the collaboration tools all the workflows are already built into the platform so you really change the way that you do business and you get away from a lot of the email-based and sticky note Communications and as a result productivity is increased overall so specifically in the medical device industry um these are kind of some of the top areas that medical device companies communicate to us that are kind of most important first and foremost uh you know medical device companies are manufacturers at heart a lot of the manufacturing complexities typically come in with planning cap capabilities

09:01so in netsuite typically when we work with these organizations yes we want to set up the core manufacturing functionality and this functionality continues to grow every release with netsuite um so that netsuite has become a respected Erp in the manufacturing space uh and and it's tied in with the planning and MRP capabilities so if you have many many layers of bills of material um you have many subassemblies you have many raw materials you can set up planning to make sure that you have all the raw materials and subassemblies all planned together with either dependent demand or even independent demand the next big piece that is important to all medical device manufacturers is FDA compliance and validation so during implementation as we design in your processes in Erp we are cognizant of ensuring that

10:02we've got these internal you know systems of control and we make sure that we have system controls in place where needed um to ensure FDA compliance we also have team members who are certified and can help walk you through some of the FDA compliance and validation um requirements uh next big requirement here we see around medical device organizations is quality um so quality really matters um with products there's obviously huge liabilities that come with um the impacts of bad quality product and so there are pre-built um modules in netsuite where you receive product from raw materials um for vendors and you trigger quality inspections and monitor results results then during the manufacturing Pro process you may have additional quality inspections so we we build quality solutions that work for medical device manufacturers all integrated into the single platform another huge one is lot traceability which a lot of this kind of comes back to Quality where if there is a problem with product

11:21you can look forward or backward to say where were these raw materials used and um did these get shipped out to customers um or even starting with a finished good and tracing backward to say what components went into this that might explain this defect um another really really big piece in medical device manufacturing also is on the sales front and the prospecting and the CRM capabilities so as Vivian already mentioned uh to begin this webinar uh we have CRM built into the netsuite platform out of core it comes with the platform it's integrated you can look at your various prospecting um the prospect Generations your sales forecasts all of that's built into the platform um and if you have more unique requirements or you're already using a CRM like Salesforce um there also are integration capabilities around CRM as well another big piece also is warehouse management so netsuite has its own WMS system where

12:31there's no integration required obviously um this was what allows you to have scanning capabilities um to help monitor very small pieces uh because a lot of medical device manufacturers have very small pieces that tend to get lost and therefore WS requirements are usually pretty heavy there and then as you look to do things like International expansion um medical device manufacturers may be concerned around approved products distribution making sure some of their product doesn't go to locations for their customers in countries where maybe the product isn't allowed to be sent um this slide here just kind of uh talking in general around the financial features of netsuite um starting as a financial system at its core um but it is modular in nature so you may have just your Basic Finance and Accounting functions you may add additional features later so maybe you aren't International yet you aren't multi subsidiary yet but you want to start adding on some Global accounting and consolidation so

13:44this is all kind of some of the financial features that are plug in playay here all right and with that uh I'm going to start sharing my screen I'm going to show you a little bit of what we have uh in netsuite in a demo account right so if you want to stop your share Brook and I'll take over here all right um so the first thing that you should see here um is here's a landing page of netsuite I'm logged in right now as a senior executive um this is what's called a dashboard for my senior executive role there is a dashboard that is part of every single preconfigured role that comes with netsuite um this was preconfigured already um and when you buy netsuite these rolls and these dashboards already come preconfigured for you um they just aren't quite as pretty because you have to start loading loting data into the system um but this is a preconfigured dashboard uh in this case for a manufacturing um senior executive

15:07this is webbased so being on the cloud this is a URL um it's authenticated so I have to log in with credentials username password two-factor authentication I get logged in and takes me to this web page this homepage and um just want to kind of share some of the basics features of netsuite that you'll see here when we talked about some of the collaboration tools on the upper left hand side you see this reminders portlet this is some of the workflow um that is informing this senior executive of maybe some of their specific actions they need to perform or just notifying them that something is behind schedule or something is wrong so some of these reminders here uh here is a late sales order reminder this is full kind of browser capabilities so I can uh rightclick open it up in a new tab I can hold my control button open up in a new tab um so I can work on lots of different things at once uh if

16:14you're like me you may have 10 different tabs open all at once um so as a senior executive I had a reminder that was just showing me here's a bunch of late sales orders uh I'm supposed to ship on a certain day and clearly that date is passed so I'm EX number of days late and um I can drill all the way down to the individual transaction so in this case here is a customer sales order for Smith supplies Corporation they ordered um 250 of this item there were 50 available and I've committed 50 but 200 are backordered but I do have this Supply allocation feature so I can click on the 200 and and it'll show me I have 50 in my San Francisco location that's committed I have a 100 that is waiting to be received on this purchase order on this date and another 50 waiting to be received on this purchase order uh on on this date here so this gives me kind of full visibility to that supply chain where I can notify a customer and let them know hey um we were planning on shipping on this date but based on our vendor capabilities um you know

17:29we're we're a little behind schedule or maybe I could go directly to the purchase order itself and um I could reach out to the vendor and say hey um why don't you Air Freight this to me to get it here quicker because I've got customers who are waiting on some of this product so I can see this perspective of um up the supply chain down the supply chain whether or not I'm looking at supply versus demand and and this capability also extends to manufacturing as well so if the source of Supply is a work order for manufacturing I can also see that I might have late uh work orders for manufacturing and can help align resources internally to ensure I'm meeting deadlines for customers um just some of the basic kind of kpis and shortcuts and dashboard tiles this just makes it um so I can easily see the data that I need to as a senior executive uh I can see trends like what is this period versus last period for revenue and expenses and some some basic kind of financial kpis here at anytime I can pull up any cash flow or balance sheet income statements with a a single click here uh

18:52and then I might have other important reports here that I want just a a single click to get into um so I can just pull up maybe inventory profitability and there we go I can start seeing um on the individual skew level um what my total revenue my costs how many units are sold gross profit margins uh and then maybe what percentage of my total revenue is this particular skew um easily right here in some of these reports um I'm just going to pop over to another role here let's look at our controller rooll so as the controller I'm going to have my own uh personalized dashboard that has uh the reminders portlet as well but I may have specific things important to the controller like bills that I need to pay bills that I need to approve um maybe there is um some of this CRM activity

20:01there's like customers with no activity in the past month so I have some of these uh reminders that have been configured for my controller here got uh quite a few invoices maybe that are overdue or periods that I need to close in in Erp so here's just a couple examples of some of these data queries and reports uh any one of these reports in netsuite does have the ability to drill down all the way into individual transactions so this was a um open invoice report I can drill all the way down into the individual invoice um just to see what's happening there um and then some of my other um reports here that my controller may be interested in here is um maybe three-way match have a little shortcut to look at three-way match activity this would be uh anything that's highlighted here that says there's a quantity variance so I ordered 15 I received 13 um so I've got a variance on what I expected uh and what I

21:13actually received here uh these variances will also show up um for uh price variances um you know billing variances all of this here uh if I pull up some of my financial reports I've got a balance sheet report here this is kind of the Native out of the box balance sheet report and then I can start to do easy little um changes here I can add little filters to say show me a balance sheet by a particular location for instance so just the Boston location refresh right and then that might look a little different if I want to see something where maybe I see all locations but I want to do a pivot I could do a column pivot rerun my balance sheet report and then I can see the value of my whole balance sheet broken out based on individual locations and that site uh if I want to export this I have very easy export options um I can just single click a button at the bottom here to export to excel uh export to PDF I can export to CSV word um I can print this I can email it just one time or I can even have this set up on a schedule to run and maybe I have this run weekly on Thursdays um from

22:52now till no end date and I can schedule it for a particular particular time I can run this at 11:00 p.m. every night and then I can copy different users on here um and and have this sent to them on a schedule all right I also have uh income statement um this is the kind of outof thebox income statement I can do some pivots of my own here maybe I have a product class um that I have my items linked to and I want to track uh my p&l based on my item classification I can do this little pivot for my column for product class and then I can see here um income based on different product classes and I can move my date ranges out we go so I can see I've got some Computing and peripherals income um I have some industrial Electronics I have some medical device um but you can determine whatever your kind of profit centers or um product classes are and then do some of these pivots on your income statement as

24:06well and once again at any point I can export it I can email it set it up on a schedule to run on a particular period I can add filters I can do other sorts of pivots so I can run my income statement by locations or other kinds of financial segments all right I'm start closing out of some of my tabs here um let's pivot over to uh maybe a supply chain manager so this is the kind of H Landing dashboard of my supply chain manager once again I have a reminders portlet with lots of different workflows um informing me of different activities that are happening throughout the supply chain so I've got things like like expiring Lots if I have any product with expiration dates I can have these um notifications on my dashboard that show I have 2,160 of this specific item and this specific lot in San Francisco that expires at the end of this month I have some planning alerts telling me that

25:21I have some late work orders late purchase orders um I have some reminders for Supply planning that tell me I have uh the system is informing me I need to order more raw materials or trading Goods here I have either reorder points which might be minmax levels kind of predetermined quantities with preferred stocking levels might have planned orders from MRP as well as blanket po items that are coming up if I have blanket purchases with my vendors um but all I have to do on on this page is um submit as long as they have vendors just check some boxes and submit and that's going to generate my purchase orders for me just with one click and then when these create those purchase orders I can have them either Auto email out to the vendor um either right then and there or upon an approval process as

26:37well um same thing on the assembly side so on the manufacturing side of the uh organization I may have some kind of pre-planned work orders uh where I want to keep a certain stocking level up for some assemblies or finished goods or I have some demand uh based on some demand plan or some dependent demand if there's sub assemblies here uh once again another reminder telling my supply chain manager I need to um push out some work orders um to meet my demand for manufacturing um just some of the other kinds of um navigations on here I've got some um planning for forecasts um gross requirements inquiries I can have entire like costed bills of material for my product to kind of see different layers of my bills and material and Associated costs there um I could run reports around inventory turns inventory profitability back order all of these things here on my um Native kind of reports um oneclick option got some kpis here uh right out of the box around inventory levels orders values of open purchases

28:01and then I can see some of those real-time rates around inventory turns so these values they update every time I have transactions run through the system I can just click a little refresh and see if it changed the underlying um reporting kpi results so you don't have to wait for a BW system to run overnight all of these reports are real time right can pivot over to a sales manager role so just from that sales perspective once again got a reminders dashboard for my sales manager role with very specific notifications and collaboration uh around leads and Prospects and opportunities so here's a neat little reminder data query of 379 customers with no activity in the past month um I can modify these data queries to have um you know maybe larger or smaller um time frames and I can even do things like create Dynamic groups to say everybody in this group is uh somebody that has not had any activity in the past month

29:20and now pivot this into a marketing campaign to send out emails with uh marketing uh capabilities um here is a list of some opportunities to close I've got forecast I can pull up my sales forecast so here's a calculated forecast by sales rep and there can be scenarios if you want to um set up you know worst case you know the upside or most likely you can have various scenarios and any one of these reports once again has drill down capabilities so I can look at Tom singer and his Associated forecast and see what makes up Tom's forecast this is going to load individual kind of transactions in this case these are actual sales so some sales orders that haven't been invoiced yet here's some invoices in here that are making up some of the forecast um but maybe I have opportunities and quotes that I want to continue to add so I'll be able to see some of those in the detail of my forecast as

30:38well here are some of the opportunities that I have that are open right now uh and I can see the the various statuses of those opportunities and the sales reps associated with those um also what I had on my reminders I don't think I had any results for was um things like calls to complete tasks due tasks to complete um some of these types of tools that are you know more CRM based um also part of the um reminders workflow for me so that if somebody were to assign me tasks to say hey can you call this customer it will automatically show up on my reminder portlet I'll be able to click into it and then make my physical call to that customer and once again here's some of the kpis associated with the our outof the-box sales role here you can see this month versus last month new leads um sales once again any one of these numbers I can click on drill into details your sales by customer

31:45you drill into the details further and see what underlying transactions make up these numbers so you have that full kind of traceability within your system of what's happening on the operations side rolling up to financials and accounting uh in some of these Consolidated reports as well right um so with that um obviously there's plenty more that I could show you um so please reach out to luxent if you would like your own kind of personalized demo um because we can drill into more details around manufacturing capabilities and quality and many many other features here so with that I'll turn it over to Vivian great thanks Ben um you can go to the next slide um just some benefits of working with a partner and understanding you know I think you can there's a lot of choices when you're looking at netsuite um we'll work to negotiate the contracts for you to try to get you the best pricing um and ensure those contracts are good long term both on a renewal basis and

33:00you're not buying too much software um we just really are looking to work with customers to align them to the right products to like um only buy what they need it's it's just a it's really important to have that experience there um you can go to the next slide when to buy um you know netsuite is uh aggressively going um and trying to make it work for customer so as they start um as they're just a startup and just starting with you know they they're on Excel or they're on QuickBooks and they're really looking for just additional control of the business additional control of their inventory just more visibility better reporting those are the reasons why a lot of companies move to a system like netsuite um or they're on a legacy solution and they're they're considering upgrading and there you know there's a significant amount of costs the maintenance of it is sign ific

33:55we've taken many customers off um older Legacy applications and um put them on that suite and save them significant dollar so lots of reasons um it's very easy for us to put a price together for you you can go to the next slide BR um the pricing is structured in a way where you look at the modules um first and see what modules you can start with and you could just start with financials if if that's is a a good starting point for your company or you can look at you know starting with maybe financials and CRM or financials CRM and inventory um whatever works for you we can pick and select the modules which is the first base of how the pricing works then the number of users that you need and then also um there's different levels of packages like the starter pack um how many users longterm you're going to need and then and then what's your growth path um so like I said netsuite doesn't lose on pricing um

34:54they're very very aggressive there and we will work to help you and to ensure you get there it's very easy for us to put together a budgetary quote I know a lot of customers ask us to put together some budgetary quotes um in in you know November December time frame for budgets for this year which we're happy to do but if you are looking just to get an idea of the pricing it takes us about 30 minutes to put that quote together um we need the number of users we need to know what type of modules you're looking for and functionality you're looking for in phase one and then if there's any thirdparty applications are you looking to do you know integrate to your um e-commerce do you have any EDI needs do you work with the 3pl those those always um are just additional questions we need just to kind of give you a full cost um and naturally we would do not only the netsuite licensing

35:45but the implementation of the software to help you ensure you have a sucess successful implementation um so happy to handle that for you um we have a great netsuite pricing guide that I think you can also download or a request from us uh we just put that together mid year so we're happy to to distribute that out to you um if you if you'd like um with that I'll hand it back over to Brooke great thank you um I want to open it up for questions right now um and if you have any questions please feel free to put them in the chat all right well it looks like we have one question here does netsuite support multi country um over to you Ben so um netsuite does have a lot of localization features built in um so you can have multiple countries set up in your netsuite instance and uh if a user is logged in for a particular country they may have the format um will show in the local currency

36:59and it may have tax um capabilities in that particular local tax um Center and uh also with that um if if you have any part of your business that is kind of a separate entity in another country uh you can set up multi subsidiary uh and some of your subsidiaries might have maybe an international currency as the basee currency and then you can still roll up your financials um all the way to a parent level with a Consolidated exchange rate great thank you Ben uh one final question here is our company manages bills of material within our PLM can netsuite support integration with other third-party applications um Yes actually um Brook do you mind can I share my screen for for one minute of course let me pass it back to you all right um I just like to present this because I think this is one of the huge major benefits of netsuite um there is a SuiteApps Marketplace here and these are free build bu site apps uh for third party Solutions um so I know

38:30it's it's pretty common in medical device where you might be leveraging like a PLM today um so I can just type in PLM into my search here and I've got seven SuiteApps that come up right away um and you can kind of peek in and see some of these SuiteApps are specific to um PLM some of them are kind of more General connectors so in this case here's a a PLM connector called uh for cadlink that can connect you to um solid works if if you have like solid works PLM for creating your builds of material then pushing those over into Erp so there are some pre-built ones you can find on this app exchange but this isn't an allinclusive list either there are plenty of other apps that you can find whether

39:22you're doing PLM or even um WMS uh we talked about netsuite WS um existing for kind of some some base WMS features with scanning capabilities but maybe you have an existing WMS um we can look at things like RF smart and some other thirdparty apps um that have pre-built connections already with that Suite great thanks Ben one final question here that just popped in um does netsuite have any account payable automation features uh yes so one of the neat things about um being a cloud Erp is that netsuite is always coming up with more and more features and they come up with new features uh in a bundle twice a year so they have new releases twice a year with more features and capabilities and some of the um more recent Fe feates within the last two years and they keep getting them um more and more advanced are some of the uh AP automation features especially around things like Bill capture uh where

40:36you might have invoices uh being emailed um and and you can have the bill capture feature run which translates you know the the emailed uh capabilities with oci um recognizing characters to translate that into an actual vendor bill for instance so there are a lot of AP automation features that are built into netsuite already including um that um Bill capture feature that I mentioned plus many many more um we've got three-way match capabilities as well for um you know the vendor Bill three-way match and exception processes all built in here awesome thank you Ben well thank you everyone for joining our webinar today uh we hope that that you got a lot of benefit out of what was discussed if there was anything that was not discussed today that you are interested in learning more about or have a couple questions about please feel free to either email sales luxent.com or submit your request um in the survey that should pop up after this call here today um just one last thing like Vivian said earlier

41:49we do have a netsuite pricing guide that is available to you by request if you would like to have a copy of that pricing guide please request it in the survey um after we close out this webinar thank you very much everyone have a great day