Deepak Jain was fresh out of college when he designed and produced 50 pairs of two-way tower speakers and set them out for sale in a small, warehouse-like retail shop called Shoptronics he’d opened in his hometown of Niagara Falls in Ontario, Canada.
Sharing the bare metal shelves with top brands like Sony and Pioneer, Jain’s 40-inch tall speakers lacked aesthetic polish — but they more than made up for it in audio performance. Word of mouth spread around town and Jain’s speakers flew off the shelves.
“Within a week, we’d sold all 50 pairs,” said Jain, a lifelong audiophile. “None of the branded products we carried ever sold over 50 pieces in a week. No one returned them, everyone loved them, so it was very successful and exciting.”
It was also the start of Fluance, which over 18 years has grown into a leading manufacturer and B2C ecommerce retailer of speakers, turntables and home theater systems that balance high performance with value.
Flush with the success of his first speakers in 2000, Jain designed and manufactured more products in Asia. The small family-backed company pivoted from brick-and-mortar sales of third-party equipment in favor of the budding Fluance brand, opening a first-generation webstore on Yahoo.
Cranking Up the Business Volume
By 2008, sales and production outstripped the capabilities of QuickBooks and labor-intensive, paper-heavy manual processes with Microsoft Access and Excel. After sizing up Microsoft Dynamics GP and Sage, Fluance turned to NetSuite to crank up its business volume — and hasn’t looked back.
Since going live on NetSuite, Fluance has grown revenue 20x while handing 30x more transactions. Order management and fulfillment that used to take 45 minutes is done in two minutes, while the 100-person company has avoided the cost of five full-time order and fulfillment personnel.
“We never would have been able to grow to where we are today without an ERP like NetSuite,” said Jain, Fluance’s founder and managing director. “Even if we grow another 20 times in the next 10 years, NetSuite will still be the right fit for Fluance.”
Fluance relies on NetSuite’s unified platform for financials, order management, inventory management, CRM and customer support. The company utilizes NetSuite for transactions with 65 contract manufacturers, and fulfillment by 3PL partners in North America, and one 3PL for its smaller European market.
Powering Ecommerce and CRM
NetSuite also serves the back end for Fluance’s mission-critical ecommerce sales at www.fluance.com and Amazon Marketplace, providing real-time inventory data, order processing and content management.
“NetSuite has been very important for our ecommerce channel,” Jain said. “The ability to bring all orders from different sites into one place makes things very easy.”
Real-time data and analytics in NetSuite give Fluance visibility into key metrics and trends to adapt swiftly to changing conditions.
“NetSuite reporting has made decision-making a lot easier,” Jain said. “All of our departments can pull metrics and data on inventory, profitability, customer experience add more. The data and business intelligence that comes out of NetSuite has been extremely valuable.”
CRM and case management through NetSuite are also vital to success, Jain noted. With unified information on customers and orders, Fluance cultivates strong customer relationships and provides timely, knowledgeable response to issues.
And by tracking issues, Fluance has insights to help guide product development. It’s paid off with winning customer reviews at www.fluance.com and Amazon, as well as by professional audio reviewers at such outlets as CNET, TechCrunch and Gizmodo.
“Our passion is to make really high quality, high fidelity products,” Jain said. “The ability to focus on business growth, not IT infrastructure and maintenance, by having NetSuite in the cloud has really been great.”
Source of the blog; NetSuite blog