A NetSuite Tour for F&B Operators

00:08Okay, well let's get started. Hello everyone and thank you for joining us today. We're really excited to have you here at Luxent's NetSuite demonstration for food and beverage brands. My name is Brooke Gyepes and I'm the director of marketing here at Luxent and I will be moderating today's session. I'm joined by Scott Nelson, our chief solution engineer and director of NetSuite delivery. Scott leads our NetSuite implementations at Luxent and works closely with a lot of food and beverage brands on everything from inventory and manufacturing to financial reporting and scalability.

00:36And we're also joined by Katrina Sandrin, our sales director here at Luxent. She's going to be walking us through NetSuite pricing and packaging later in the session and she will kind of help connect what you're seeing in the demo to what kind of a real world budget could look like for that. So today is really really about showing you guys a glimpse of how NetSuite works for food and beverage companies and kind of what it looks like on a day-to-day how it can support your growth and where it can really simplify the operations that you guys have as you are growing and scaling move through here.

01:09So before we dive in I just want to quickly walk through are going to be covering today. We're going to start with a brief introduction to Luxent. You know who we are, why we focus so heavily in food and beverage. Then we'll kind of talk through what we like to call the recipe for success with NetSuite. So some key considerations we see consistently across growing food and beverage companies. And then from there, Scott will lead a live NetSuite demonstration, showing how the system works in practice, highlighting functionality that matters most for food and beverage brands and and kind of how they operate.

01:40After the demo, Katrina will walk us through pricing and packaging so you have a really good understanding of how NetSuite is structured from a cost perspective. And then finally, we'll wrap up with next steps and kind of what typically comes after this session and you know how you guys can get started on your NetSuite journey. So before we really jump into things here, I wanted to point out that you can always put your questions into the Q&A panel at the bottom of your screen. So if you have any questions as we move throughout the webinar, please put them in the panel down there and we will do our best to answer them as you guys pop them in or at the end of the session here today.

02:16With that, I first just wanted to talk a little bit about who Luxent is. So, we're a premier NetSuite solution partner. We were founded in 2009 and we're based in Southern California. Our f focus is really working with growing companies and we have a deep experience across manufacturing and distribution including food and beverage. So, our team is made up of really great senior level consultants with a really strong net NetSuite industry backgrounds and we support the full life cycle of NetSuite ERP.

02:43So that's from the selection, the purchase, the implementation, integrations, development, and any sort of ongoing support. So we really partner with with different brands throughout their entire NetSuite journey. Because of that experience, uh we're really able to bring practical insight into how NetSuite fits into a broader kind of tech stack and how companies use it day-to-day as their operations become more [clears throat] complex. So, we've spent over 15 years working specifically with food and beverage brands, which has allowed us to build a really deep industry expertise and proven best practices.

03:16So, we're recognized by NetSuite as one of their leading food and beverage partners, not just for knowing the software of NetSuite, but for really understanding how food and beverage companies operate on a day-to-day basis. And we bring with that we bring pre-built solutions and playbooks that we've built over the years by working with so many food and beverage brands that are specifically designed for food and beverage. And that kind of best practice helps reduce any sort of customizations and lowers risks risk and accelerates your time to go live when you guys purchase NetSuite.

03:46So most importantly, we act as a long-term partner with brands as they as they enter into their NetSuite journey. So, we are really focused on supporting growth well beyond just implementation. We really want to partner with you on your entire journey with NetSuite. But don't just take our word for it. Here's a small snapshot of some of the food and beverage brands that you might recognize that we support and partner with. So, um you might see some names that you recognize there and see that that you know if you join the next NetSuite group here, you're in good company.

04:17All right, with that I'm going to pass it over to you, Scott, to get to some of the good stuff. >> Fantastic. Thank you. Um, so just a little bit about NetSuite. Uh, NetSuite is fast growing ERP, uh, still to this day. Um, they growth year-over-year, actually just had a record quarter. Um, 43,000 customers nationwide, 6,000 new logos in the last 12 months. uh and it continues to grow year over year over year. Um we can go ahead.

04:58Um so NetSuite is designed to grow with you as a company. Uh we we call this the stairways to success. Um it is uh a scalable software to allow companies to come in and use as much or as little of functionality as uh both budget and time um allow. Uh so we start with the foundation of financials um CRM possibly inventory uh planning and production management and then we can expand from there into warehouse management procurement MRP um WMS uh handheld devices EDI integrations uh we grow as you grow um that's very important to Luxent as the company uh to be able to support you as your company builds and grows and to allow you to scale within a software rather than being stuck with a build that uh limits that growth opportunity for you.

06:11Um at Luxent and and with NetSuite uh it's really built out for the food and beverage industry. uh everything from lot traceability FIFO solutions so first uh expiration first out within your lots um outsource manufacturing and we're going to talk a little bit about this when I jump into the system and show you the system uh making that outsource manufacturing process easy if you're not doing in-house manufacturing um multi-channel sales we integrations to e-commerce platforms Amazon on uh distribution uh companies, your 3PLs.

06:49Uh at Luxent, we've built integrations to a number of large 3PLs. Uh there's a list of some of them there. um but also order compliance. Uh whether that's FDA requirements, USDA requirements, uh we have mechanisms in place uh both that we've built and that can be tailored to you uh that can track what those compliance uh reasons are and and stop orders or allow orders to pass based on those requirements. Um, so I'm going to jump in and do a little bit of a demo.

07:32Uh, I'll share my screen here in a second. Just a few things that I'm going to cover. Uh, NetSuite's very modular, like I said, but it's also role- based. Um, users log in with their email address and what role they're assigned tells the system what they're allowed to do, what they're capable of seeing, what they're capable of interacting with. and I'll show a little bit about what that looks like in NetSuite. Uh from there, we're going to do a little bit of an outsource manufacturing uh demo. So, I'll show you how NetSuite makes those transactions easier.

08:04Uh it's, you know, it can be complex with uh other softwares where I'm having to track a PO in one place, a work order, how do I maintain what inventory my outsource manufacturer is looking at and seeing and reporting back to me? Uh NetSuite eases that a little bit. Uh so I'm going to walk you through that a little bit and then I'm going to talk to you a little bit about NetSuite's financial reporting and how that makes sense for the accountants, the CFOs, uh and makes it easy for you to slice information based off of sales, off of my financial reports amongst a million different segments and how I can customize those to my business.

08:46Uh so I'm going to just jump in here. I'll start sharing my screen and we'll we'll go through this. So, everybody should be able to see my screen. This is me logged in as an administrator into my environment. So, you're going to see kind of a boring dashboard. Not a lot to it. Uh, a lot of options up here. I can see and do basically anything within the system as an administrator. Kind of the world is my oyster here. Um, but as I come in and I change to a different role, say an accountant role, you're going to see a much more dynamic dashboard, uh, NetSuite does come with, uh, pre-populated dashboards for a number of different roles based on the type of, uh, services that you're doing and the industry that you're in.

09:36So, this is my accountant dashboard. Now I start seeing things like KPIs, uh, live tracking of where I'm at receivables wise, um, today versus the same day last month. Um, payables during the same time period, sales. Um, I can see my bank balances. Um, up here I can start drilling into a little bit more detail on a couple of individual ones. So I can see these in meters. Uh, I have my reminders to let me know. Uh, as an accountant role, I have purchase orders that I still need to bill, some vendor credits I need to apply, new customers, so I'm informed of what new customers are signing up and we're doing business with some overdue bills that need to be paid and some invoices overdue.

10:26I can take a look at my AR gene and see what buckets things are in. The nice thing about all of this is with a simple uh click of the button here, I'm going to drill into this information and it'll bring me right into the detail behind those numbers. So I can actually see here's my AR aging summary making up that number that sits on my dashboard. [snorts] Um so really easy to to manip or to move maneuver around and see. uh very quick and easy and responsive for me to find that information and um drill in and and see the detail behind it.

11:08Now, if I jump over to a production manager role, you're going to see my dashboard options are all going to change significantly. Now, I'm looking at much more productionheavy in uh things within my system. So, now I'm looking at my inventory moves, my orders are up a lot. Um, my work orders are up a ton this month. Uh, most of this being, uh, we're building some information out here. Uh, I can see the value of these and and what's being released this month. I [snorts] see my total orders to fulfill.

11:41Again, I can click on this and drill into it and it'll actually bring me to that list of all of my orders uh, waiting for my fulfillment. So now I can actually see the individual orders now and filter this however I want. So I can say show me you know what's going to be fulfilled from an individual location. Um what's going to be you know if I want to look at certain items I can build a filter for that. If I want to look at certain customers I can do that. Uh the other thing about this these lists here is a lot of these I can actually click on the the uh field name and order these by whatever I want.

12:22So if I want to order these by c customer, I just click on the field name and that sorts this by customer versus by date. I can go back here and click on the date and and reverse or sort this by either the beginning at this top or the end at the top. Uh I can bulk fulfill. So if I check these boxes, I can fulfill these orders in bulk or I can drill in into an individual order and fulfill at an individual order by order. Um, [snorts] as a CFO, I might want much more um summary information at my fingertips, more executive level information.

13:05So now I'm looking at a much more executive level summary on these. still very graphic heavy, so I can kind of track within a a date range of where I was in different places. Uh for my monthly sales, as I scroll across, you'll see in each individual month where that moves in the meter. Um my expenses are down this month. My sales are also down. So that might be something I want to drill into and take a look at. Um, I also have these nice tiles here up at the top that'll take me to individual reports.

13:40So, if I want to see my pro profit and loss, I have that nice little tile up there and I can drill into here. We'll jump back into this financial reporting here at the end of my demo. Um, but that's a nice little feature here that I can jump right into. All right. Now, as I said, you'll notice these headers up here are also changing as I change roles. And that's because each of these roles has different permissions. Um, within my administrator profile, I can actually control what's within what's in these roles and what level of access they have to different information.

14:20So, I'm going to go into my accountant role, telling the system which subsidiary they have access to. I can limit uh people to certain uh departments, certain locations, certain subsidiaries, whatever I need to limit them to. Um sales roles. Often I can actually even limit to those sales uh uh sales reps to only see customers that they're assigned to. sales managers maybe to just see their sales teams so that they're they're not kind of uh bogged down by the noise of the entire system.

14:57Uh within each one of these you'll see I have different levels of permission. So I just click on this. I have full level edit level create and view. Uh if I don't have this permission in at all, they actually won't even have access to that record. >> [snorts] >> Uh so this is all based on permissions levels and that that's what drives what I'm able to see and do within the system. All right. So that's kind of the power of NetSuite. Um that's kind of every customer, you know, every account has all of that access to things.

15:34But now we start talking about what's individual to certain companies. Uh, so again, NetSuite has modules that are kind of based on what you buy into the system. So, as if I'm buying a manufacturing skew, I'm going to get access to things like uh work orders and routings and bills of materials and bills of material revisions. Um, if I'm in a services skew, I have access to purchase or to projects and resource allocations and things like that. So what you buy and what kind of what what industry you're in drive the types of things that NetSuite's giving you access to within your system.

16:15Uh one thing that we see a lot of in the food and beverage space is manufacturing can vary from company to company. Um a lot of food and beverage companies especially startups uh I'm working with an outsource manufacturer. Um I don't control maybe anything but a tolling charge uh that I pay my outsource manufacturer. Um but that tolling charge that I pay for my product uh drives what I'm charged from by my my vendor. my vendor produces it, lets me know, hey, you know, in the in the current state, they may email me and say, hey, you know, I'm done with production on this, and now I have to go in and create a work order and build that work order in my system to to show what my outsource manufacturer did.

17:03Um, and then they say, okay, I'm going to transfer this over to your 3PL. I'm waiting for an email for my 3PL um to let me know that they received it. And now I'm creating a transfer order or an inventory transfer to move that from one location to another. And you know, I'm kind of reactive versus seeing all of that information waiting to be done and able to do it at a touch of a button. In NetSuite, what I have the ability to do is a single uh purchase order to my my outsource manufacturer that generates my work order for me automatically and links them together and then all I have to do is receive that purchase order and that will do the build for me as well or actually sorry do the build and that will do my receipt for me.

17:51So I'm going to just kind of walk through that process a little bit here and kind of show you what that looks like. Um, so you can kind of see how easy NetSuite makes this. So within my purchase order, I just do an I enter a purchase order. And there's a couple of things that I'm going to point out in here on the backend build that makes this easy uh that kind of loops all of this together. So on here I have a outsource purchase order. What that does is it tells the system that there's certain information on this form that maybe is different than the other uh forms.

18:25Uh so that's that's what I'm looking at. So I'm going to just find my outside uh roasting vendor. So I'm what I'm doing is some some coffee beans that are being produced at my outside roasting vendor. [snorts] Uh so I select my vendor that populates a bunch of information specific to my vendor for me. Uh you'll see their shipping address gets pulled in. Their billing address is here. Uh so my items, I'm looking at just a uh assembly item for roasted coffee beans.

19:03And then you'll see that's going to put in my information here. It's going to load everything up for me. I'm going to say this is at my contract manufacturing. And here's my item of my roasting charge. So, I'm paying them 39 per unit. I'm going to do 2,000 units [snorts] for $780. And you'll see it's going to create a work order and my pull in my bill of materials for me. So, I'm just going to add this in here and then save. I'm going to just jump over here. I have a couple of these built out [snorts] so you'll see kind of what the output of this looks like.

19:44So, I built this, generated this work order here for my revision. Now, if I drill drill into my bill of materials revision, I'm going to show you kind of what this looks like on the inside. So, this is my bill of materials for my my coffee. You'll see the only thing that I own is maybe the beans that I'm sourcing from another vendor to my outsource manufacturing. and then I pay my tolling charge. For quite a few of our customers, there actually is nothing but the tolling charge on this. And then as they grow, maybe they want to take on some cost.

20:18So maybe they think, you know, my outsource manufacturer is doing a great job of of getting the main pieces, but maybe I want to bring in the packaging materials or the labels or something like that. I can I can source those cheaper than what they're telling me they're sourcing them. So you start bringing those on and adding to this bill of materials the things that you're bringing in yourself and then as that grows eventually maybe you're taking on that manufacturing yourself. Uh but this tolling charge is the key.

20:47This is another charge in NetSuite. Um which is just a basically saying it's not something we count. It's just a a pure charge. I'm setting that up with my vendor uh and everything goes there. Now on the vendor side, I have this outsource manufacturing piece that says this location uh my contract manufacturer out outside roasting location that is specific to this vendor for my outsource manufacturing. So by having that in there, the system knows anything that's to that location is actually should be on this outsourced manufacturing purchase order.

21:28And then that's what links these all together. Now it generated when I created that purchase order, the system automatically generated this work order for me which link that together. So, here's my beans. Here's my outsourcing. It's coming from this vendor. It's linked to this PO. And here's my outsourcing charge. I am creating my items. There's 500 or 5,000 quantity being built. I've already built this. So, you can kind of see the linkage of all of this.

22:08So, if I come into my assembly build, it links to my work order. It's pulling up forth all of my information to build. So, here's my build. Here's my component green coffee beans. You'll see I don't see my outsource charge, my tolling charge on here because there's no inventory uh component to that. If I drill into my GL impact, I can actually see my inventory and stock going up in value and then my expenses or my expense account going down. Um, so I can see my debits and credits in real time. Uh if I go back to my work order, I can actually see where all of this is moved through into the system as well.

22:53So this has increased my my my inventory. Uh I can see how much is remaining of my my components from all from this screen. But now the nice thing about this is when I build this, it also loops back to my purchase order and marks this as received and then puts it into a pending bill status. [snorts] So now I have a bill. I can create this bill for my $1950. Just wait for this to generate pulls through all of my information.

23:37I'm going to actually move this to approved as an administrator and save this. And once this bill is saved, this whole transaction flow will be completely closed off. my PO to my third my my contract manufacturer generated my work order. My work order was built. Now I have all of this inventory in stock at my my outsource manufacturer. If I have a 3PL that's actually doing all of my fulfillments out, I can transfer that inventory from my contract manufacturer location to my 3PL location and track that inventory and those costs going with it.

24:19Uh, NetSuite also has a really nice landed cost uh, piece to it. So, if I want to add the cost of that transfer, the the freight from my my contract manufacturer to my 3PL, I can include that into the cost of goods uh, to increase the the actual cost of goods sold later uh, for these items. Uh, if I was lot tracking this item, I would actually have my lots here. So I could track that down to a lot and then trace that um transaction all the way through with my lots as well.

24:57Uh so this is now completely built again. I can go into my GL impact and see where the dollars are going. You'll see it's tracing to the item itself as well. And I can see where those those location uh hits are going. All right. So, now that this is all done, I can I can track this all the way through. Like I said, I can see this uh anywhere. And I'm going to show you a little bit here on the financial side of this uh as far as locations and how I can trace these dollars location by location as well.

25:35[snorts] Um, but what this does is it means I'm dealing with one transaction. I make one purchase order that generates my my uh work order. I I build that work order and that does all of the the closing off on the the purchase order. So rather than having to do multiple transactions, I'm really only dealing with one at a time. I need one email confirming the order from my my third party uh outsource manufacturer. They they let me know, yep, I built this one. I I do that build in NetSuite. And then that closes the loop.

26:10So rather than having to create four or five transactions, I'm really only creating one and and then doing a second build to that one. Uh that stops me from having to do four or five of these. All right. So last thing I'm going to do is talk a little bit about the financial reporting in NetSuite. This is where to me NetSuite really shines above a lot of other softwares uh is the ease of this. Um so I'm going to just come down. We're going to look at my um income statement and I'm going to show you a little bit about how I can slice this up in in a few ways.

26:52So, uh I'm going to go from January. What we're going to do is we're going to look at this quarter. So, all I do is I I come in here and I say I'm going to look at this fiscal quarter. Hit refresh and NetSuite will pull that through, you know. And actually, this is kind of brand new. April just started. So rather than this fiscal quarter, I'm going to actually look at last fiscal quarter. We're going to look at January through March. So I just do change it to last fiscal quarter. And it quickly generates here.

27:23Now I have my subsidiaries. So I have a couple of options here. NetSuite has multi- multi-subsidiary uh rollup built into its system. So I can have a consolidation subsidiary and then I can have multiple operating subsidiaries that roll up. Uh so in this instance I actually have uh five different subsidiaries that are all subsidiaries of this headquarters or I can look at my consolidated view. So this is my consolidated books across of all all of my businesses um broken out by each uh account.

27:56Now, this is nice in a one nice consolidated view, but maybe I want to actually compare these and look at them next to each other. If I just change my column view to subsidiary, hit refresh, I'm now looking at the the subsidiary breakdown of those within each account. So, my 4110 revenue account at US1 had 3.7 million. US2 had 40 462,000 and that made up my 42 or 4.2 223 million. Uh, if I come down here and say, you know what, that's nice, but actually all I want to see is US1.

28:39I just want to see the books for US1 right now. That's going to clean that up for me. Now, within US1, maybe I want to actually look at my item breakdown. So, NetSuite has a financial segment called class, which is kind of my item classification. So, if I drill into that and break that out by column, I can now actually see revenue by each one of these breakouts here. Uh, again, I can fully drill into this. So, I'm just going to rightclick and open in a new tab. And now I'm looking at the detail behind that revenue transaction by transaction within this f fiscal quarter to make up my $998,000.

29:24So I come back up here, see that 998,630, look at my detail to see all of the invoices that made those dollars happen. If I drill in, maybe this is, you know, one item within there, every item on that invoice, but I had 998,000 in this class D um group of items. uh this is just a item um segment. So if I go into a a specific item in the system, I would actually be able to see on that item a field called class and then I just tell the system that belongs to this item classification and that's where it goes.

30:08So same with frozen foods, I I could go into many items and see all of that broken in. Now, maybe I want to actually run this for something a little bit more complex. So, I'm gonna actually come in here and go back to my total, and I want to actually see this broken down by a combo of a couple of these. So, I want to look at all of my frozen foods and uh I want to see only frozen foods in my uh Boston location.

30:48I can run my financial report. Unfortunately, there's nothing in that one. Um but I can actually drill into whatever combination I want within this. Um, it it makes it so that I have all of this power at my fingertips. I just need to know where I want to see that information. Um, come back here. We'll refresh one more time and bring that back to the the totals. Now, maybe I have something that I want to add to this report. Um, you know, maybe just a little bit more information.

31:23If I customize this, I now have the ability to come in here and say, okay, on my columns, maybe I want to see uh the class listed next to them. Uh we're going to just uh pop that in. So, I'm going to say let's just add that to the report rather than making it a a bigger deal. So, now I can embed it within those totals rather than making it columns across. Um, I can add as much information as NetSuite wants within here. So, I can really make these these kind of pop and and bring that uh analyzation into my my reporting without having to generate uh, you know, a a SQL report or export out and do a bunch of uh, VLOOKUPs in Excel.

32:18I can actually do all of this right at my fingertips. The nice thing about NetSuite is all of these customizations are no code. So I don't have to pay uh you know Luxent let's say to generate all of these reports for me and all of these customized reports for me. I can do these myself. At Luxent we train all of our customers on reporting when we do the implementations. It's one of the big things that we do. We want them to be able to hit the ground and actually do a lot of this reporting themselves rather than relying on us.

32:49Uh the big thing for me at Luxent is I want to be a strategic partner and a growth partner with our customers. I don't want them to rely on us for, you know, day in dayout support. We're happy to support and help backfill. Uh but we want to make sure that you have some good knowledge of your system because the stronger your knowledge is in the system, the more happy you're going to be using that system. All right, that is it for my demo. I want to make sure we have time for a couple of other things.

33:28Go back to the um >> you should see my screen now here, Scott. >> All right, >> perfect. So, just a little bit uh to talk about the strengths of the NetSuite platform as a whole. um benefits that the suite provides to all businesses. Visibility as I as you saw I have full visibility to data on my sales orders. I can see inventory on hand. I don't have to go looking for it to know if I if I can sell a product or if it's going to be on back order. It's right at my lines on my orders. Um if I go to an item, I can see how much I have across all items.

34:05There's full connectivity transaction to transaction and I can see that in related records. So I'm not always hunting and pecking trying to find where stuff is. I should be able to go into one record and kind of trace it all the way back. [snorts] Control uh I you saw the permissions that I have within the system. I can control who has access to what. Uh agility NetSuite's going to grow with me as a company. It's going to give me the ability to add, subtract, and work within an environment that is going to grow with my business rather than me having to grow around my software.

34:45Uh collaboration, uh those tools allow me to share information. NetSuite has email capabilities, notes capabilities. I can share information on a customer or a vendor. uh I can actually schedule those reports to be emailed out on a on a scheduled basis. So I build a report. I say, "Hey, this is really great information. Everybody in this department should probably see this weekly." I can actually schedule that to be emailed out and waiting for them on a certain time every month or every week. [snorts] And then productivity, uh that's where NetSuite shines the most if you ask me.

35:23um by giving all of this information what it does and by the ease of the use it means maybe I don't have to grow headcount in the year to to grow my business. Uh ideally you know I can grow 30 40% and maintain the same headcount because I'm being more efficient with the things that my my employees are doing. Uh I don't need more people to do more process. I can streamline that process and maintain where I'm at. So, a few things that we see that are are the most helpful for the food and beverage industry.

36:04Uh software integration, like I said, 3PL's NetSuite's API is very open and accommodating to work with with companies. Uh we at Luxent have linked to a ton of 3PLs with direct APIs with SFTP connections. Just depending on how real time you want that information to move, uh we can do that. Uh we've worked with Shopify, Woo Commerce, uh eBay, Amazon, um integrations with all of those with pre-built connectors um that that allow for quick, easy setup.

36:41Um, but you're up and running within a day with a lot of those uh tax softwares. Uh, Avalara is the core of NetSuite, but there's other options as well, uh, that will calculate your tax rates, uh, put that sales tax on, file for you, um, so that takes some of that worry about, um, you know, everchanging tax rates across the country. Uh, those tax softwares can be built within NetSuite. Um the power of NetSuite where this comes in is NetSuite allows companies to actually build within their framework.

37:20So a lot of the third parties are actually building their their tools in NetSuite. So it's not even an outside system. It's these tools are actually built in NetSuite. Um so it makes it so that you're not actually even leaving NetSuite to to do all of these these cool features. Um financial reporting quicker month and close uh often reduced to a couple of days from weeks. Uh financial segmentation those segments I showed you class location department those are the three that NetSuite comes with but we actually have the ability to create custom segments.

37:59So, I have customers that want to track things like um projects to the GL. Um they want to track uh you know um sales channels to the GL. Uh we can track whatever you want down to the GL level. And at that point, all of those financial uh slicing and dicing that I showed you, you'll be able to do for whatever it is that you you track to your business. [snorts] Um and then scalable solutions. uh functionality grows with you. Multiple subsidiaries uh you can have multiple companies running within the same instance of NetSuite uh with absolutely no uh overlap.

38:40Uh you could have a couple of users maybe that have access to all businesses often that's your accounting team um or maybe that's just the owner but they can be running independently of each other and never run into the data from each other. uh they can have completely different practices, different processes. We can build all of those out individual or they can share those. Same with uh chart of accounts. Those accounts can be shared, they can be individual. Uh we have all of that control. Um you tell us what works for you and we make that work.

39:17and then those those modular add-ons. Um, one thing that's not listed in here, um, NetSuite, you are always on the current uh, use or the current instance of NetSuite. You don't have to pay for upgrades every couple of years or worried about being out of, you know, support. Uh, NetSuite does two rollouts a year of upgrade. You'll get notes. You'll get um release uh previews of your account and what that'll look like. So, you can try turning on features and see if you like them uh before it actually hits your production environments.

39:55We work with all of our clients on that. You'll get a nice little summary from Luxent saying, "Hey, here's all the features that are coming out this this release. This is what we think might cross over and might be interesting to you as a customer." um or things that we know that you've been thinking of doing. Um we work with you on that and let you know what we think might be the best benefit of or for you. >> Awesome. Well, thank you, Scott. >> Absolutely. >> All right, Katrina, now it's over to you to give everyone kind of an idea of what this costs.

40:36>> Great. Thank you, Brooke. Okay, NetSuite pricing can be a little bit confusing. So I want to walk through that quickly with you. Um, first you begin with your base platform which is referred to as your product skew. This provides you with the core functionality of the product and it's the baseline of where your pricing begins. Next comes the users that you'll need to have who are accessing NetSuite. There are a variety of user types and this determines what kind of access that they will have.

41:12There's a general access license which allows you to have full access to any of the information within the system, you know, based on whatever permissions you've assigned as uh Scott showed us earlier. There's a read only and approve license. Uh again, for those users you who don't necessarily need to transact, but they might need visibility to information or reports. Um or perhaps you have uh you know, [clears throat] excuse me, perhaps you have a WMS user for someone in the warehouse who only needs limited access to what they're doing there.

41:48Uh so these are just uh different types. There's others as well, but these are a couple different types of users that uh are available within NetSuite. and they are priced differently and accordingly based on how much access they're getting within NetSuite. [clears throat] Um you also have the ability as Scott was sharing to add on modules that are not included in the base platform skew and you know this is allows you to have scalable add-on and you scale when you need it add functionality as you need it.

42:18So, you know, maybe you do want to have WMS warehouse management from the very beginning and you can add that on as an additional module in on top of what your uh other base licensing is. And then lastly, we have industry specific sweet success SKUs like food and beverage or retail or services. And uh you know they're specifically designed for industries with um the most modules with the modules that are most commonly needed uh as well as some preconfigured setup like dashboards, reports or workflows that are designed for those industries in mind.

43:01Okay. So uh licensing NetSuite licensing Luxent has designed some of our own package and offering for um new food and beverage companies up to those who are well established but still start up and in high growth mode. The packages are designed to focus on you know what you need at this moment um or immediate objectives um but also if you want to be forward thinking growth mode uh we've tried to align the modules and the licensing along with implementation and functionality that's needed at these different stages.

43:36So our starter offering is designed for companies just getting started as the name implies. For example, uh we've worked with some companies who have uh determined that they want NetSuite from the very beginning and they may still be in the process of formulating their products and the products haven't quite yet hit the market. So they're again very early adopter, very limited in what the use of NetSuite might be. Um, and just to point out that, uh, NetSuite is licensed um, as an annual contract, but we help negotiate different payment terms to support small companies maintaining that cash flow.

44:17Uh, so just laying this out from a monthly standpoint just for easy easier numbers for you to think through. Um but in our starter offering we have seen clients um achieve licensing costs in the range of around 1,100 to 1500 per month. Um this is this would be you know after your discounts with NetSuite and not this pricing. Uh but NetSuite does provide significant discounts on the licensing and we would help negotiate with uh NetSuite on your behalf to get the best possible price for you. timing does have an impact on negotiation power and if you are looking to move forward soon uh you are in luck.

44:57I'll just mention that Oracle's year end is May 31st. So this does make a great time to purchase NetSuite and leverage more aggressive discounting. Um just note there for you. But uh in our starter plus this would be more functionality within NetSuite. And depending on how many users you might need, we can expect to see licensing in the range of you know 1,900 to maybe 2500 per per month. Less users being on that lower end and more users being on that upper end. And then we have our starter premium which would align with a slightly larger startup with more requirements and a larger team.

45:37This again just giving you some very general base numbers um but gives you at least an idea and as I said we have designed implementation packages as well with the licensing packages would be an addition and we'd be happy I'd be happy to schedule a one-on-one meeting with anybody who's interested in learning more about where your company might fall and what that pricing might look like for you. Um, one more thing to note on our starter implementation packages, we have designed them to spread out your implementation costs over a 12-month period.

46:14Again, to help reduce the strain that is associated with, you know, high upfront costs with a ERP implementation. Uh, so just keep that in mind. We do want to try to be flexible and work with you and make this as feasible as possible. Um, but if you would like more information, you know, please reach out to us after the webinar to set up something um, a one-on-one session with us and I'd be happy to talk more and try to find um, pricing that's specific to your organization. And with that, Brooke, we can uh, move into our question and answer.

46:49>> Awesome. Well, thank you, Katrina. That was super helpful. And I know that the NetSuite pricing can be kind of a black box out there with not a lot of information that's just readily available. So, thanks for breaking that down. Okay, well, let's open it up for questions and answers. I did see a couple kind of come through as we were chatting, but we wanted to kind of keep the ball rolling here. Uh, okay. Well, Scott, this one's well, both of these questions here are definitely for you. So, how does NetSuite handle complex recipes?

47:17So, including ingredient costing and yield calculations, uh, things like that. Yeah. So within NetSuite's assembly process, uh I set up my bill of materials with revisions. Those items in my components can be lot tracked. They can be uh serialized, whatever it is that I need to do. Uh, and then when I'm building my my work orders, I have the ability to account for things like spillage, um, yield calculations, um, you know, whatever I need to do, and then I can generate a lot for my my finished good as well.

48:01So, I'm able to track all of that information within a within a single process. >> Okay, awesome. Well, that's helpful. Thanks, Scott. We have one last question here and then we'll kind of wrap things up. Can NetSuite effectively manage perishable inventory? So, including expiration dates and lot tracking. >> Yes. So, within my lots, I can set up my my expiration dates. NetSuite can manage that like I said in a FIFO way. So, first expiration, first out. So, when I'm going into sell or I'm going into um manufacture, NetSuite will suggest that the lot number that's next to expire to make sure I'm I'm using the ones that need to be used first.

48:51>> All right. Well, thank you, Scott. Looks like that's all the questions we have for today. Um to kind of wrap things up here, I just wanted to give you a typical idea of what the next steps look like. So, step one, attend one of our demonstrations. So, you've already checked off that box. Great job. Um um and then um after this, we'd like to schedule a short discovery call to kind of understand your business and and have a better understanding of where you guys are at to kind of start the ball rolling on getting budgetary pricing over to you.

49:20And then, if it makes sense, we'll schedule a demo follow-up for your team. So that's going to be more of a tailored demo showing you what NetSuite looks like with information that might be more applicable to how your business is running. And then after that, Luxent um once you guys have decided on NetSuite, Luxent will act as your advocate through the purchasing process. So that means that we will help you purchase NetSuite through Luxent um and kind of help you get the right solution and modules and negotiate the best possible licensing terms and pricing.

49:49And then from there, um, you kind of get started on your NetSuite journey and partner with Luxent to kind of help your team support them in in NetSuite in the day-to-day. So that's kind of the next steps here. Um, before we leave, I just want to thank everyone for your time and we really appreciate you being here. Again, if you have any questions or would like to continue the conversation, please reach out to us at salesluxent.com and we'd be happy to help. After the webinar, there is a survey that will pop that will pop up.

50:20Um, from there, you'll be able to request a follow-up meeting, request more information um about NetSuite and Luxent or or ask any questions that you might have. So, thank you so much everyone and have a great day.