Is Your Startup Ready for NetSuite?

00:09all right I think we can go ahead and begin our webinar today we are going to be talking about netsuite and our Ready Set netsuite and demonstration we appreciate you all joining us and uh we'll begin our call today with our first the we our agenda is an introduction to Luxent and who we are and we'll speak a little bit about netsuite before we get into the demonstration and at the end we'll give you some information about pricing and packaging related to netsuite licensing and how you can reach us after that on our call today we have Vivian Keena our president and CEO she's been in the industry for 25 years now and has a lot of information to share with you Ben Katerberg is our chief solution architect he will be doing the demonstration of netsuite and has been working with netsuite for 10 plus years and I am Katrina sangren our sales director and I will be your point of contact following the call should you have any additional questions

01:21I'll go ahead and turn it over to Vivian Keena to give an introduction of luxent great thanks Keena hi everyone thank you again for coming uh just a little bit about luxent before we get started we were founded in 2009 this is our 15th Year we're celebrating located in Southern California but really um working with companies across the US um actually across the globe um we're what you call a premier solution partner so there's different types of Partners within the netsuite community and we are a solution partner which really means we can handle everything from the help helping companies with with the selection the implementation the support and the ongoing growth of the company um we're a certified cloud provider which means we have applications on the this site um netsuite Marketplace and um we work with companies we have a full development team we help on the integration side if you have other solutions to integrate to um so um kind of full service there um and we really focus on startups and mid-market I know

02:27there's a manufacturing has has always been part uh of our uh portfolio and distribution we've added uh service and the software side also there's several companies on the call I think today that are in the medical device we have a vertical in uh specialized vertical in medical device uh we have one in life sciences and we have one in food and beverage so for those companies that are on the call today then in those special verticals uh we have a lot of experience in in in those areas um we also have a Salesforce practice we've had it from the beginning um the netsuite comes with uh CRM but if you're if the netsuite CRM is not robust enough or doesn't meet your needs we um have a full team that assists on the Salesforce side um you can go forward oh with that we can uh get started so Ben Katerberg um our chief solution architech will take you through netsuite and and provide the overview thank you thanks Vivian um so once again welcome everybody uh to the call

03:33I'm Ben Katerberg Chief solution architect uh I've been working in the netsuite space as Katrina mentioned over 10 years and really I I've kind of developed some specialty around more light manufacturing organizations specifically in food and beverage as well as medical device manufacturing um and I'm just going to share a couple slides here around um netsuite and kind of that that business case for when is the right time to look at an Erp especially from that startup mentality um so first and foremost uh netsuite it was the very first Cloud Erp company um it was built on the cloud for the cloud from the very beginning back in the late 90s and netsuite has grown very very quickly obviously you're all on the call here today because you've heard about netsuite um you have some curiosity and just to kind of show the trajectory of the growth there are over 37,000 customers around the world in 27 countries we

04:46actually just added our 218th country believe it or not um with lant specifically um and over 6,000 new customers have joined netsuite just in the last 12 months months so that is just incredible growth trajectory and there's a big reason for it um netsuite is a very very simple tool for companies from the startup and midmarket size to really start dabbling in Erp many customers um now customers were in Excel they were in um some very very basic um tools to run their businesses and decided to make the conversion over to netsuite um especially because um challenges associated with inventory management lot controlled inventory serialized which is typically very common in food and beverage and medical device um as well as you know obvious um growth in the business and volume considerations so just a few of the benefits um that businesses gain with netsuite first and foremost is visibility so having a centralized Erp you have both your financials and your operations all humming together in a centralized platform and

06:16this is a centralized tool where everybody is using the same tool and you have your single source of Truth so um there is full control um in the Erp meaning I receive my goods in the Erp and it Associates a financial posting so those transactions have both operational and financial impacts and so I have greater control of my business um when I'm working between finance and operations and also I have the ability to move a lot quicker when I'm on a centralized platform so especially as a startup and I I have my products kind of ready for the market and I start growing um the volume of transactions I can very very quickly scale with the netsuite platform uh and then the other kind of nature of an Erp is that Central collaboration tool I no longer have to have my team members working in silos and sending emails to have them check on things it's all centrally in Erp and obviously

07:35that's going to increase productivity overall especially as I start adding more and more automation features within netsuite um so as I mentioned before netsuite was the first Erp built on the cloud for the cloud it started out as purely a financial system so the financial capabilities first and foremost are um the the kind of greatest tool of of the features so we have a lot of Finance and Accounting features um AR AP general ledger fixed assets stuff there is automated billing capabilities your financial reporting capabilities and a lot of fpna type of activity um and and netsuite keeps building out more and more and more complex features for organizations as they start to mature so you can start off with netsuite to handle your basic kind of finance and operations and then as you grow in scale you might start doing more financial planning and Analysis and more complex kind of global accounting and consolidation in the future so

08:48that's what we're talking about when we say you can really grow and scale with netsuite starting right right now where you might be as a startup all the way through kind of a mid-market cycle um the next Point here um with netsuite is it this really is kind of a central Hub of all Finance and Accounting operations oper uh your day-to-day kind of supply chain operations but the nature of netsuite is modular and what I mean by modular is you might not need all of these features on day one as a startup you might have very basic um Financial requirements you want to start out with and maybe just basic inventory and Order management uh the nice thing about netsuite is you don't have to buy everything right up front you can start off with um those basic features just managing your inventory managing your financials and then as you grow and scale you can decide I need warehouse management I need project management I need multi subsidiaries because

09:57I'm growing and opening up uh operations in other countries so it's very modular and you can continue to buy more and more modules as you require them without having to change your platform there is no real upgrade you have to do you're still on the same netsuite platform you're really just adding to it as you grow in scale one of the other great things about netsuite is when you purchase your netsuite solution it actually comes preconfigured based on your particular vertical so we have food and beverage we have manufacturing we have um some medical device kind of features that we automatically load into your account day one when you purchase netsuite so all of this preconfiguration ation is meant to really speed up that implementation time frame so as a startup you're not looking for a one-year implementation time frame when we have all of these pre-loaded um bundles into netsuite based on your particular business vertical we can turn around in implementation very very quickly for startup organizations so

11:28now I am going to stop the presentation of the slide deck and I going to open up my netsuite tab here and I'm just going to start kind of running through some of the various roles and some of the collaboration tools uh reporting uh and and give you a good kind of sense of what this change might be like moving to an Erp so first thing you'll see here is I'm logged in as a controller role at the moment this controller roll has in front of me what's called kind of their home dashboard you'll see on the left hand side here there's reminders I have little dashboard tiles here navigation shortcuts kpi I have graphics for things like comparative sales revenue payables um I can change some of these graphs out change timelines um so this is all very very easy to interact with um your home dashboard and a lot of the collaboration tools with the reminders and all of this you'll notice to

12:52this is a regular web browser this is the URL this is a secured link link so I can access this from anywhere on any type of device as long as I have an internet connection um if I have multiple roles um I can just hover over my name here and I can see I have every role assigned to myself but um I can switch kind of back and forth so as a small business as a small company many of our customers wear many many hats and so they might have to jump back and forth between hey I'm doing my controller responsibilities but now I also have some operational UH responsibilities so it's it's set up with predefined roles so we don't necessarily have to build all of these super roles for every person for your current state of the business but rather help the business grow and mold towards some of the leading practice practices um as well um you'll see there are Center tabs

14:06I'm just kind of hovering over some of these Center tabs each one of these Center tabs has its own kind of dashboard so there's a customer specific dashboard vendor specific dashboard associated with this controller roll and by the way everything you're seeing here on the screen this preconfigured dashboard is one of the features that we deliver as on day one as part part of the bundle installation so we'll deliver preconfigured roles as well as pre-configured dashboards now obviously you won't have all of the data in here until you start data migration activities um but this General look and feel will be how your system will look on day one so just to kind of give you a preview here based on this controller roll I'm going to open up uh a couple of these quick links so I'm I'm going to open up a balance sheet I'll open up a profit and loss report here and by the way

15:05it's all web browser-based functionality so I can open up multiple tabs here I'm just holding control on my keyboard and clicking things or I can rightclick uh open a new tab kind of functionality um so if if you're a very busy person you have multiple things you're working on you're going to have multiple tabs open for your day-to-day work so here an example of a a balance sheet report in netsuite this is kind of real time you know as of you know January 2024 I could create a transaction right now in real time this information is going to update for me I can do things like pivots so I have other Financial segmentation in here so I can do a pivot of my balance sheet by location me just refresh that report and now I can see here here's the value of my inventory by location so San Francisco and storefront one each have some inventory value and if

16:09I'm curious from that Financial perspective you know where are these numbers coming from I simply just click into the numbers so I had $4,900 worth of inventory asset value in San Francisco location I click on that value and then it's going to bring me into the detail these are the underlying transactions that make up the $4,900 so I can see here individual inventory adjustments so I was adding and removing some inventory I have receipts item receipts I can drill into an item receipt a fulfillment so I shipped Goods to somebody so this is kind of explaining the balances of my inventory asset value and I can drill all the way down into the individual transaction itself so on January 25th which um I guess is a little future dated here I had a item receipt and I can see here I received 10 cases of this item into inventory and I can see this was associated with a purchase order so

17:23there's document linking so this is one of the powerful tools tools of starting out with an Erp is having all of your transactions linked together all of the transactions that impact financials um traceable directly from the financial reporting itself uh here is an example of the outof thebox income statement in netsuite uh once again I have some other kind of financial pivots I can do so I have a class segment a product class I can do a pivot on and here we can see I have Revenue cost of goods for various product classes um I have you know paper and disposables janitorial supplies Frozen Foods right if I'm in medical device I might have um you know instruments I might have maybe I sell some kind of services as

18:23well I can have various product classifications uh however way I want slice and dice my product data to be able to see a full kind of p&l by that product class and once again just like you saw in the balance sheet uh I can click into the underlying details of where's the Frozen Foods Revenue made up of several invoices here this all happens to be the same customer right but this is where the underlying $2,971 of Revenue com comes from from Frozen Foods the other thing I want to point out here as well that's native to netsuite reporting is that I have the ability to export reports directly from the report itself single button so I have an Excel single button click I could do to pull it out into Excel here is a pdf version CSV word uh I can um expand um or contract my nodes to see kind of a rollup activity if I want to print it I have a print icon I can email it or I could even set this up to run on a schedule

19:45and automatically email whoever I want this report um based on schedule so I could say run it every single Thursday send the income statement detail for Frozen food data to you know these these people and have it run at this time every single day right maybe I don't want to run during peak hours so 5 in the morning every day all of these people can receive the income statement detail report for my frozen foods product um couple other things here the the workflow that I was talking about on the reminders all of the roles will have a reminders portlet that's preconfigured on on their dashboards this is the workflow so other team members might be performing activities in netsuite and when that is ready for action uh for my particular role that's when I'll start to see things show up in these little reminders here so I can see right

20:53now as logged in as the controller I have one Bill to approve so I could pop that open I have 152 bills to pay so um obviously I've got a a bunch of transactions that are kind of accumulating um for me to do a perform a payment run uh I can see here I'm pass due on several inv have several invoices P due um I can see here all of these purchase orders that are outstanding that I haven't received a vendor bill for so once again these are all just workflow reminders that either tell me to tell me to action something or just notifying me of something that I might want to follow up with a customer or talk to somebody about so here is uh Bill approval I can see here um from Estee Lauder a bill $198 I'm going to click into that bill and and see why

21:58it's having me um approve this I go to my related records I might see things like this bill is associated with a purchase order uh purchase order is $17426 this bill is for $198 most likely I need to approve this because the amount of the bill is higher than what I was expecting it to be on the Associated purchase order um another kind of handy little report that's in here as well um it's a three-way match report I just added it as a shortcut on my controller's role this is going to show me things like all of my purchase orders receipts and vendor bills and do I have any variances so this very first one here is my dollar sign variance that is a price variance and this is where I can kind of track um that that full visibility into are my vendors charging me what they say they are or um am I overpaying my vendors potentially so these are some of those kind of controls that are in place by having netsuite Erp

23:23and then just some of the other uh key performance indic ators here I can see sales expenses Revenue looking at you know this month versus same month last quarter this period versus last period and these period dates are flexible as well at any time I can go into set up this kpi and change out the ranges so maybe I don't care about months maybe I want to look at weeks so look at this week versus you know last last week uh and once again even in the kpis I see here sales this month $161,200 in Zoom so you can type out any questions you have and I'll I'll get to them as they come up so next thing I want to do here

24:36I'm going to flip over to a supply chain manager role just to show what a supply chain manager might see in netsuite as their day-to-day so here supply chain manager more concerned with obviously um do I have enough inventory to to satisfy my customer orders so I see things like planning alerts I have some late work orders I have purchase orders that have been generated that need approval um I have assemblies that I need to uh generate work orders for or here I have items that I need to order from vendors so I'm just going to pop up a couple of these so in this case this is my order item screen um triggered from my reminder that says hey I have lots of items that I've triggered reorder points for so netsuite is monitoring my inventory levels and letting me know I have three of these items on back order I have a preferred stock level of 15 I need to order 18 of these right

25:52now and by the way I have a preferred vendor setup with Associated pricing as well so I get it for $993 per unit so all I would have to do here as a supply chain manager is check the boxes as long as they have vendor setup and pricing I can just check the boxes and submit and that's going to automatically create my purchase orders for me based on the system recommendations some of the other things that I might be concerned about is the value of my inventory so once again I have kpis here that are letting me know that my inventory position is 5.6% higher uh today than it was the same day last month my orders are down this month versus last month um and once again I can click into any of these underlying details to see what's making up those values I have a couple Graphics here for weekly order Trends inventory Trends um I have some navigation shortcuts here then some other kind of cool reports

27:13so here's my top five inventory sales maybe I like to see those as a bar chart so this item is kind of my top seller at the moment this month to date I want to see here you know for the year obviously I can change my time frame see the data change real time on my reports uh and now finally I'm just going to Pivot over to maybe one last role here and that's our sales manager role so as a sales manager I might be concerned with maybe pre-sales activity so I have some reminders here for maybe some internal opportunities that have been created to Target some prospects um I might be concerned with fulfillment of existing sales orders so I've got some reminders here letting me know

28:15I've got 25 orders um that are ready to be shipped out the door uh I also have a contacts without sales activity kind of metrics so netsuite will let me know when I haven't had customers purchase something in a while or they haven't received a phone call or had anything logged as part of some of the CRM functionality so once again here here's my opportunities that were in process um and I can see the value of those opportunities and Associated statuses where they're at at the moment here are some of my contacts that I haven't had any activity within the last week I have some kpis uh here preconfigured for me I'm looking at new opportunities open opportunities what more my forcast numbers are any activity associated with lost opportunities or quotas uh and then some of the reports that I can pull up here sales by sales rep or sales by customer reports I can see back order sales as

29:37well so here's my sales orders by customer summary based on the current month and once again I can drill into the details to see what sales for this particular customer we're made up of that value here is a back order report so I can see kind of summarized by sales order I have several of these that are on back order here so some of them I shipped partial some of them I haven't shipped any and then quite a few other kind of sales and operational metrics here um so once again I think you can see here that netsuite is very very robust the reports I'm showing you are just the ones that come right out of the box that many kind of similar organizations might be looking for but this the this data these reports this is all just um out of the box and if you do have your own sort of reporting needs very very easy to create your own reports modify these existing ones um and put them right there front and center on your dashboards all right with that

31:06I'm going to kick it back over to Vivian I'll reshare our presentation and she will wrap up for us great thanks Ben great overview today um and that just really just touched the surface of what netsuite can offer to many of you who have a little bit more detailed requirements maybe on the distribution or manufacturing side and we're happy to set up a secondary demo and answer any questions as Ben said um for you just just don't hesitate to reach out so um with that we can go through some of the pricing um and just talk about um our value to to buying netsuite so you want to I think go to the next slide um we're a solution partner as I said earlier and what we can do for you is really we offer you a lot a number of things um in in the process first we can help you with the selection of netsuite ensuring you bu um what you need and align that to your business requirements not buying too much software that you you not necessarily need today as Ben mentioned earlier

32:20it's modulized so you can just select what you you know can start off flow and then grow with the application um ensure um we have experience in multiple industries that we can help you with so that we can save on time and kind of introduce some best practices from um from how we've um done the implementations in the past and and how customers are either configuring or reporting on the application um and then protect you on renewals as as you continue to grow and represent you and and ensure you're getting good discounting um and just make sure that you know your contract's in a good place and that you're you're growing and and we're protecting you in in in any way we can um and then just establishing a long-term relationship the people who are on this phone are the same people are going to assist you through the process who are going to be here long-term who are going to help you with the implementation

33:15and then ongoing for for your partners for your life with the application with netsuite what why do you buy netsuite um many of you are in positions where you have QuickBooks or maybe you have a legacy application and you're ready to either upgrade that Legacy application or um consider a cloud or something a little bit more modernized um so you know we've taken people off of Old Solutions we've taken people from um Excel or QuickBooks and then moved them on to netsuite um maybe you're starting to introduce and manage inventory or your just requirements in in general have become a lot more uh detailed and and you need something something to help you manage the business better um preparing for growth many companies are starting to you know get get um go to Amazon or Reach Out internationally um and that is a good time to start considering an Erp similar to netsuite you can move forward um the pricing so the pricing for netsuite um is really broken out into three main areas so the modules as Ben said the modules that

34:27you're purchasing and then the users that are going to be on the application and there's there's um different types of users so the the users that are going to be in the system daily and and really robustly use using the application are full user and then maybe just a time and attendance user um for those that are just maybe um on the shop floor and you just need them to enter time um and there's different type of packages um and there's a startup package and a midsize package for 30 users or less and then the premier package netsuite has really tried to get aggressive on their packaging to try to bring in companies and help them to make it affordable to companies in a startup mode to be able to afford it and grow with the application so you know um don't hesitate to reach out to us we can we've wrote a a really nice pricing guide that goes into a lot more detail on the pricing um it takes us about 40 30 to 45 minutes to

35:26actually estimate a price for you so we're happy to do that if we can um set up a 30 minute call and ask you some questions um so we can do that um and there's financing netsuite has their own financing through Oracle and um it allows you to defer the payments for six months and allows you to get zero interest on the the term of the loan so um free money kind of um so great opportunity for everybody um so schedule the call with us if you can if you're interested um maybe for 2024 um and you know we could just ask you some questions as I said and we could um provide that pricing for you um and if you have any other other questions or if you'd like to set up a more detailed demo we're happy to do that with that I'll turn that back to Katrina um

36:15we're clo we we can close out and um there is a small survey at the end of this um if you have any questions additional questions please uh fill out the survey or feel free to ask us those questions during the survey thank you yes thank you for joining us and we will also be sending a followup with the recording of the demonstration if you would like to review it again or share with any other uh employees within your organization again you can contact us at ssl.com for any additional questions we'd love to talk to you about pricing if that'd be helpful or any questions that may come up after the demo and thank you again for joining us today