NetSuite supports interior design
innovator's rapid growth by simplifying key business
processes
LAS
VEGAS, Sept 28, 2022 /PRNewswire/
-- SUITEWORLD 2022 -- Studio McGee, Inc., one of the premier
innovators in the interior design industry, is working with Oracle
NetSuite to help scale its business to meet soaring customer
demand for homewares. With NetSuite, Studio McGee has been able to
take advantage of an integrated business system to improve the
speed and accuracy of its finance processes and business
operations, move into a massive new fulfillment center, and explore
international expansion.
Studio McGee was launched in 2014 by Shea and Syd McGee after they built a loyal
Instagram following by sharing their home renovation. Since then,
Studio McGee – including McGee & Co – has rapidly grown to
seven subsidiaries and now offers a wide range of products
including furniture, rugs, pillows, decor, artwork, mirrors,
lighting, and bed & bath accessories. In the past five years,
Studio McGee has increased its revenue by more than eight times to
over $80 million, created a
highly-successful licensing subsidiary in partnership with Target,
and expanded its team from 20 to 200 people. To support its growing
operations and fulfill rising customer demand, Studio McGee needed
a new enterprise resource planning (ERP) system. After careful
evaluation, Studio McGee centralized its business on NetSuite to
improve visibility across its growing organization and enhance
decision making.
"When consumer demand for homeware spiked in 2020, our sales
skyrocketed and our loyal customer base grew exponentially. While
we took the growth in stride, behind the scenes we were struggling
with disconnected business systems that hindered our ability to
capitalize on opportunities," said Patrick
Ord, president, Studio McGee, Inc. "With NetSuite, we now
have a single business system that helps us connect data across our
operations and manage our various subsidiaries. The enhanced
insights, comprehensive reporting capabilities, and automated
processes NetSuite provide helps us make quicker and more informed
decisions, and that is having a huge impact on our business."
With NetSuite, Studio McGee has been able to move from five
disconnected business applications – accounting and financials,
inventory, ecommerce, fulfillment, and planning and budgeting – to
a single integrated system. By automating and streamlining
operations on a single cloud business system, Studio McGee has been
able to increase productivity, enhance business insights, and
benefit from faster and more accurate reporting. NetSuite is also
helping Studio McGee gain a clear picture of profits from each
vendor by providing built-in controls that enable transactions from
across its businesses to be accurately recorded and allowing teams
to enter shipping carrier bills individually. The enhanced
visibility and reporting delivered by NetSuite also enables Studio
McGee to offer its interior design clients an improved ecommerce
experience by enabling them to review custom invoices online.
"Meeting the ever-rising expectations of today's customers
requires excellence across the board," said Evan Goldberg, founder and EVP, Oracle NetSuite.
"With NetSuite's centralized and scalable platform, Studio McGee
has been able to significantly simplify its business processes and
scale its operations. Using multiple parts of the suite, Studio
McGee can accelerate its rapid growth by focusing on its customers
and meeting skyrocketing demand for stylish homewares."
To support its move into a new 325,000-square-foot fulfillment
center – complete with pick-and-pack robots that are integrated
with NetSuite – and explore international expansion, Studio McGee
is using NetSuite Analytics Warehouse. Studio McGee will combine
its NetSuite and Shopify data in NetSuite Analytics Warehouse and
will also add data from Google Analytics and other systems.
To accelerate budget and merchandise planning processes and gain
a better understanding of product and profit margins, Studio McGee
will replace Excel with NetSuite Planning and Budgeting and
leverage NetSuite Advanced Revenue Management to handle deferred
revenue and accrued expenses. Finally, Studio McGee is using
NetSuite Advanced Customer Support to help address unique business
challenges, support growth milestones, and realize the full value
of its NetSuite investment.
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About Oracle
NetSuite
For more than 20 years, Oracle NetSuite has helped organizations
grow, scale and adapt to change. NetSuite provides an integrated
system that includes financials / Enterprise Resource Planning
(ERP), inventory management, HR, professional services automation
and omnichannel commerce, used by more than 32,000 customers in 217
countries and dependent territories.
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SOURCE Oracle NetSuite