Learn How 3 NetSuite Customers Improved Supplier Performance to Fuel Growth
Colby: All right. Well, thank you for joining today. Looks like we’ve got a really great turnout. I appreciate everyone tuning in. Let’s go ahead and get started. I am Colby Young. I’m VP of our NetSuite business unit here at SourceDay and I’m really excited to chat with you about three great customer success stories in the NetSuite ecosystem.
So, a little bit of housekeeping before we get started, please remember to put any questions that you have in the Q&A portion of the Zoom meeting or drop us a comment in the chat if you want. We’ll be monitoring that live. If you have any specific questions, drop those in the Q&A and we will have a live Q&A at the end of the session today. Lastly, we really want this to be interactive and get you involved as an audience. We’ll occasionally have some polls pop up and would love for you to submit your answers. And we can reveal the poll results of everyone to get a sense of who your colleagues are in the audience, and who you can relate to. So please be on the lookout for that.
All right, a quick agenda for today. We’ll start with some introductions, myself and my co-host, Christine. We’re going to be talking about these three SourceDay and NetSuite joint clients. First Winky Lux, a high growth health and beauty makeup brand, who is really just killing it in the CPG market, and the health and beauty space. Farmers Business Network, a high growth agribusiness distribution company, servicing farmers all over North America, and DuraMark, a high growth manufacturer of safety labels.
As you can see, these are three very different companies, but you’ll hear common themes as we talk about the value that they’re gaining using best-in-class solutions. And then we’ll have a live Q&A. So as what we’ll be learning today and discussing across these three customers, is first and foremost, the impact of late deliveries and the cost to the business. For all three of these organizations, what late deliveries meant to their organization, and how it’s hindering them.
Second, risk to revenue and growth goals. All three of these clients were on a growth trajectory; supply chain disruptions were impacting their growth goals and putting revenue at risk. Lastly, quick time-to-value for a new solution. Everyone’s very busy in the world and implementing new technology can be difficult. These three organizations were able to really get a quick time-to-value and low total cost of ownership.
I’d like to bring on my co-host, Christine, and as she’s coming on, let’s get out our first poll, and then we’ll do some quick introductions of ourselves. So first: what industry are you in here in the audience? We’d love to understand whether you guys are in manufacturing, retail, distribution, CPG. And if you’re into something else, please let us know as we walk through the discussion today, so we have a good sense of who everybody is in the audience.
As a quick introduction of myself, I’m Colby Young VP of our NetSuite Business Unit, I’ve been with SourceDay for six years supporting manufacturers, distributors, retailers, and CPG companies as they scale their business in the face of supply chain disruption. I’m really passionate about empowering product companies to utilize best-in-class solutions, like NetSuite and SourceDay to help scale their business. And as we’re waiting for the polls to come in, Christine, I’d love to let you give a quick introduction.
Christine: Absolutely. Hi, everyone. I’m super excited to be talking to you today. As Colby said, my name is Christine McAvoy, and I am the director of Customer Success at SourceDay. I’ve been in customer success for probably the majority of my career. But what I really love about what we’re doing at SourceDay is that my team gets to work in between that consultant role, where we’re providing your group with the best solutions and recommendations for what makes sense for your business, a bit of cheerleader and that we want to make sure you’re successful. We’re always there to motivate. So that’s a little bit about what our team does here at SourceDay.
Colby: Awesome. Thank you, Christine. Perfect timing. We have the poll results in. We have a good diverse group here. Good distribution, retail, manufacturing, and others. For the other respondent, if you want put in the chat what exactly industry you’re in, that’d be great. We’d love to see. Perfect. Well, let’s go ahead and get started with our first topic today, which is the impact of late deliveries. Christine, we know firsthand, we work with these organizations all the time, how detrimental it can be to a supply chain when you don’t have your arms around when items are going to show up. Worst of all, is when they show up late, which is happening more and more these days. We’re all living in a world of supply chain disruption, and late deliveries, and changing of dates, and quantities, and trying to get your arms around that is so, so difficult. And we hear it’s all emails, and spreadsheets, and phone calls, and sticky pads, and WeChat and Skype.
It’s disparate communication. You know, it makes me think a lot about when I first joined SourceDay six years ago, our co-founder would tell the stories, how he would have meetings every Monday morning, having kind of like a war room of what was going on with all the important purchase orders, and what was the last data update. And we joke a lot about how it gave him all those gray hairs, and would keep him up at night, and added to the stress of his life. That kind of spurred the birth of SourceDay, that kind of gray hair analogy that we joke about. So…
Christine: Anyone on the call that’s breathing deep, just take a deep breath, you know, let the anxiety simmer out. I’m sure everybody’s relating to that.
Colby: Absolutely. It’s really just the life we live right now, especially when you’re relying on manual processes. So, Christine, from your point of view, onboarding DuraMark, Farmers Business Network, and Winky Lux, can you talk to us about some of the situations and scenarios that they were in and dealing with late deliveries and what it meant to their business and how it was impacting those three organizations?
Christine: Yes, absolutely. I’ll start with Winky Lux, a group that’s near and dear to my heart. If you’ve ever been in Target, you probably know who Winky Lux is. They’ve got these bright, beautiful displays. And that actually was a big piece of where their pain point was, they had landed this partnership with a mega group like Target. The impact of being late would be so painful and so detrimental to that customer relationship, that what they found themselves having to do is in scenarios where products were running late, suppliers were running behind, what had previously been budgeted for a $2,000 ocean freight, then would turn into a $15,000 air freight, because again, you cannot be late when Target calls.
A lot of the pain they were experiencing was, we have to now find a way to make up for lost time to meet our customers’ expectations, which can get pretty expensive.
Colby: Yeah, I’m sure everyone can relate, right? Having to adjust an ocean freight to an air freight, especially when you think about where this inventory is originating from, you know, global supply chain is the norm. Whether you have suppliers just domestically or overseas, that air freight coming from Asia, or Europe, or wherever, certainly can get very, very expensive. And whether you’re doing that weekly or monthly, that can add up. I recall the Winky Lux folks applauding us when we were able to help increase their on-time delivery and eliminate some of those costs.
Christine: Yes. And you know, what would be nice is if it were something that you could even get out in front of and predict. But for a lot of our customers specifically that have pieces of retail, seasonality is a very big player in what they’re doing. We talk a lot about how much you’re switching your makeup out – as someone that uses it. I’m not going to wear the same colors in November that I wore in July. When you’ve got consumers that are demanding you keep up with the ever-changing market, you have to accommodate a seasonality that’s going to take that into account. Because again, for them with Target, anything that didn’t sell, ultimately, they had to eat the cost of. And if you’re getting things there late in the demand for that specific color, that specific item is no longer there, that’s really painful. And again, another loss of revenue when product is being literally sitting on the shelves.
Colby: The sunk costs of excess inventory that you’re talking about are often an expense folks don’t think about in a seasonal business. Every day that that Target shelf was not stocked on time was a day they lost to sell that seasonal inventory. And to your point, Nate Newman, the CEO of Winky Lux would tell us that they would get the returns from Target, and just have to eat that seasonal inventory. So again, very costly results of both air freight and excess inventory due to seasonality that Winky Lux is experiencing that they needed to solve.
Christine: Yes. And while we talk about seasonality, in one sense, Farmers Business Network is an entirely different version of seasonality. What they’re doing is providing farmers with seeds and fertilizers. This is a group that’s seasonality isn’t just on demand, but truly they are racing the clock to get their customers what they need to maintain that relationship. For them, a big piece of the stress and strain when they came to us was we are doing things in a way that we can’t really even see what’s happening. You know, we are moving so fast, like you said, the Post-its, the emails, it’s amazing we get anything on time. They were telling us stories of suppliers, changing multiple things for different orders within a single email. And trying to keep track of that is really something that your buyers do not have the bandwidth to do and still work strategically. A huge stress point for them was feeling like they didn’t have a good sense of what was happening within the business because they couldn’t see everything.
Colby: Absolutely. I recall working closely with Eric Scott, the global procurement manager over there at Farmers Business Network, and him literally saying, “The blinders were lifted.” Being able to have someone in charge of global procurement, being able to say, “We now know what’s going on with our inbound inventory,” where before it was in all these disparate communications, which didn’t allow them to set proper customer expectations. Like you said, when you have a truly seasonal business you’ve got to be able to make those adjustments and communicate to the customer. Being able to empower Eric and his team to literally take those blinders off was very exciting to hear them say.
Christine: Absolutely. And for DuraMark what’s really interesting too, is especially as we saw the variety of people that have joined us today are their problems and pain points, while different than the other two, were still things that ultimately, they didn’t have a solution for and needed help with. One of the trademarks of their business is how fast they’re able to work, how agile they are, short expectation times for customers on items. What they were running into was keeping their suppliers paced with that level of expectation. They felt like, “We are really doing great, we’re humming along, we know our system.” But we’ve got to get our suppliers bought into this and give them a way to better communicate with us.
Colby: Absolutely. The agility piece was so important for DuraMark. And they really hang their hat on their ability to be innovative and agile in the market to hit their customers’ quick turnarounds. I remember them talking all the time about it taking heroic efforts internally, and spending so much money on internal operational costs over time, and changing production delays to catch up when suppliers were late. When you think about again, the added cost of human capital working a Saturday to catch up and the pace of life, and the work life balance, and the stress that everyone feels when you’ve got to work overtime to catch up to hit customer commitments. Being able to ease that a bit with DuraMark with more on time delivered items certainly felt good, not just from the business standpoint, from really kind of helping change lives a little bit there.
Christine: Yes, we hear that a lot from our end users. “I’m going home on time today.”
Colby: Yes, yes. Letting…having, you know, it reminds me that you said that, Christine, one of our very first customers, we were sitting in her office, and she was a procurement manager and literally told us, “I can now go home on time and have dinner with my family, because I’m not sitting here for three hours at the end of each night, putting data back into the ERP.” Nice stories like that. Awesome. Well, that kind of rolls us into our second topic and our second poll. So you’re going to have one pop up here about the impacts to your business of late deliveries. We’d love to have you respond so we can understand a little bit about how it’s impacting your business.
While we’re waiting for this to come back in, I’ll share some anecdotes that I remember from all three of these customers, when they first got started on SourceDay, we’re in a digital transformation age and every piece of the business has the tools that they need. And you’ve all invested in NetSuite, a best-in-class ERP solution, but there’s still pieces of the business that might need extra tools and procurement. And suppliers are oftentimes left in the dark.
I recall all three of these procurement teams lighting up to rejoice that finally, finally, we have a solution to help us, to give us the tools that we need to be better with our suppliers. It’s a nice feeling when you’re able to empower a department to be more efficient and more effective. Awesome. Well, the poll results are in. Production delays, number one, and we know how painful that can be, right? It’s that overtime, it’s that potential loss or risk to revenue. Every production delay ultimately could be a revenue loss and perhaps a lost customer, customer satisfaction, hindrance to growth. Thank you, everyone for the polls. And that leads us directly into our next topic that slides here, which is risk to revenue and growth.
So, Christine, the risks that companies face when they’re growing, kind of come out in every direction. Being in a growth trajectory is a great, great thing. But it also comes with new hurdles and new issues that you need to solve. So I’m curious, when you were onboarding these three customers, did they know at the time that their current systems was perhaps going to hold them back from current growth?
Christine: What’s so interesting about this is a lot of times, customers can identify the symptoms, but not always the pain. And so, they felt that things were holding them back. For Winky Lux, this is a customer of ours, who has this great partnership, but it’s also very forward facing. And so delays in production were delays in getting items on shelves, a lot of times too, for our retail groups is their consumer could be spreading this information like wildfire, right. For them, having that delay in getting things out to Target meant their consumer, meant that they would have endcaps with very few products on them. And ultimately, that’s not the partnership that Target was looking for. And so, I mean, while this is a very clear cut one for them, the pain was, “If we can’t get this done on time, we are going to be at risk of losing this partnership.”
Colby: Yeah. And you see right here, Giana, talking about how before SourceDay, it was in all these disparate communication tools and things would get lost. And then there wouldn’t be someone on a text message or a WeChat thread and how important it was to make sure all that communication got to, like you said, to the big box retailers to able to set those expectations. And that, ultimately, was one of the big reasons they invested in SourceDay: to make sure that they had the tools and the systems in place to scale. And you can see this quote here from Nate Newman, their COO and co-founder, literally saying they’re ready to double their business with NetSuite and SourceDay in place to be able to have not just the internal operational process that NetSuite provide but extending that to the supplier network.
Christine: Yes, absolutely. So that supplier piece, too, is what I think for DuraMark was a big push as well. As we’ve talked about, they were very focused on getting their suppliers to engage. And a big piece of SourceDay for them was going to be, “How do we get this circle of communication, this transparency between ourselves and the suppliers back into our system, back into our ERPs so that we can all trust the data that’s there, and ultimately, eliminate all of this chasing down of suppliers, and refocusing their team’s time into being strategic and more proactive versus reactive.” And a big piece of that, again, was giving the suppliers the prompts, reminding them when they needed to provide updates, and sticking on that for them.
Colby: Yeah, absolutely. And we talked about DuraMark needing to be agile in the market and hit customer changes in demand. Now, as things change on the customer side, we’re talking about risk to revenue, risk to growth, it’s one thing to just let the supplier know, “Hey, we need something moved in, we need something moved out, we have a change in demand.”
The other thing is to get the closed loop from the supplier, to get commitment. Get, “Okay, I heard what you said, here’s what I can commit.” And they get that committed back into NetSuite. And that is what’s very difficult, and the quote here with Chris talking about just, “They were working in a primitive environment,” and this is just this, again, kind of rings back to this flying blind. We actually talked about it internally, it’s like, if you were a pilot, and you didn’t have all the instruments to fly the plane, and it was just by sight, right? I don’t know if I would get on that commercial airplane. And so, again, it’s this theme of being able to have the visibility you need to one, set customer expectations and make sure your suppliers are able to get you the information that you need.
Christine: Yeah, we hear this a lot from customers too, it’s not even just about their team, their department, but other groups that rely so heavily on the ERP or on NetSuite to inform them that eliminating that step of having to manually put the data back into, you know, take it from your email and make sure it winds up in the right place is very time consuming. Eliminating that piece for them is a big sort of sigh of relief, not just from the workload but also trusting the data. You know, and for groups that are relying on spreadsheets, that’s a big checkmark in the yea column. And especially too for groups like Farmers who told us, “We are very much relying on manual efforts. And it makes us unsure if we can trust the information.” A lot of what we talked to them about was, they were up against these very true time constraints.
When you’re going so fast, your concern is, “Are we over ordering? Are we ordering something, you know, safety stock that we don’t need to because we do have it here?” And so, a lot of that manual effort leads to extra effort from your team to go double check the work, and not feel as sure as you can in the system. Whereas when they started working with SourceDay, it was all there, the history was there, you could see, “How did we get to this price? How did we get to this date?” And have a very clear path of what had happened so that they could go forward to their customers with confidence. And report, “Yes, you can expect this on this date.” Or, “Yes, we are going to hit this target.”
Colby: The theme I’ve heard through this topic of risk to growth and risk to revenue is how difficult it is to have end-to-end communication with customers and suppliers with manual communication tools, emails, spreadsheets, and phone calls. And that the sad part of it is that the traditional old school method is just that. Procurement and suppliers are left to emails and spreadsheets to do the best that they can. And all three of these organizations were able to de-risk that growth and allow SourceDay and NetSuite to help propel them into the next stages of their business, which all of them were looking to do at this stage of their organization. Perfect.
As we move on to our final discussion here, I want to get one more poll out, which is about the SuiteApps community. So, you should have a poll up. I’m curious if you guys use SuiteApps, if you’re familiar what they are at all. While we’re letting that poll results come in, you know, SourceDay is a Built for NetSuite supplier collaboration solution. And just to make sure everyone knows exactly what Built for NetSuite means, every six months, we get our integration re-verified to ensure that we’re locked tight with NetSuite every six months, their new releases that you get being on a Cloud ERP. There’s a big investment that we have, from an IT and integration standpoint, to ensure that you have a very quick time-to-value when it comes to implementing SourceDay.
The other piece of that is, everyone is busy, everyone is wearing a million different hats, especially IT. If you go to IT and say, “Hey, we need a few hours of your time,” it’s typically getting lined, right? They have got a million projects. We knew from the very beginning that SourceDay had to be as quick and easy as can be for IT, especially for these growing organizations. So that’s exactly how SourceDay is built, is to be about in a 30-day job from start to finish with as little IT resource time needed as possible. And we’ll talk about all three of these clients and what that meant to them.
Well, the results are in. Everyone here knows what SuiteApps are. You either use many or at least one. So that’s great. A big benefit of NetSuite is that they recognize that there are some gaps here and there, so they partner with best-in-class solutions like SourceDay and various other SuiteApps that you might use and WMS or MRP to make sure that you have what you need to scale your business. They really take the onus off of you to do the vetting up front. So, everyone on that SuiteApps, especially Built for NetSuite, you kind of have that stamp of approval already which is a big benefit of the ERP that you all have invested in.
Let’s get into our last topic of discussion, which is quick time-to-value and how important that is for an organization when implementing new technology, especially as they scale. So, Christine in this topic of discussion, first let’s remind folks that we understand how hard it is and the trials and tribulations that come with onboarding new software, especially when there’s a dependency upon suppliers using that software. So fortunately, our business is set up and we thank God for you, Christine and your team. So, talk to us a little bit about our methodology of onboarding, and training, and support, and how these clients really were able to take advantage of that.
Christine: Yes, absolutely. Well, we got it right on day one out of the gate. We’ve never changed anything. What I will tell you is, we are constantly looking at this process evolving, looking for ways to improve it. One of the things that we have always felt is very key, is communication. When we’ve got a new customer that’s joining the team, we like to make sure specifically, like you said, those IT groups understand the process, so that they can start to plan ahead for what’s needed.
We know that the sooner we can tell you guys, “Hey, it’s going to go here, and you’re going to have a meeting here, and it’ll take about this long,” we can better align with schedules and keep ourselves on track, especially when we’ve got a great partner. NetSuite groups for the most part, have all been really great partners, because they want go fast. They’re used to working well with NetSuite. So when we get a NetSuite customer, what we find is, if we can align, we can go fairly quickly. And again, just hyper communicating what’s going to be expected of the team.
And then on the supplier side, I’ll talk a bit more about that in a minute. But really, again, it’s just preparing you and making sure that your team is prepared for change, we understand that’s always going to be met with a bit of resistance. And what if I fall behind, and so we’re very prepared for that. And that’s where that sort of cheerleader side comes in of like, “You can do this, and we’re here to support you.” And again, just always being a constant for them in helping them understand here’s the next step and breaking it down to feel really manageable.
Colby: Yeah, awesome. One of most important things we do here at SourceDay is the managed service that comes along with our solution to ensure quick time-to-value and supplier adoption. You know, I remember specifically, Nate Newman at Winky Lux talking about how imperative it was to be able to get SourceDay up and running as their hyper growth was already in flight. When you talk about a few hours to get integration done, which is one thing, there’s two sides of the coin here at SourceDay, there’s the technical piece of integration, and then there’s getting your users to use it.
And you can have the coolest software there is, but if folks don’t use it, it becomes shelfware. It’s not useful. And we wouldn’t be a company and we wouldn’t have NetSuite clients. So, love to hear just a little bit about kind of the way in which your team goes about the change management on both the buyer and the supplier side.
Christine: Yeah, absolutely. So, I think these were three really great customers to look at. What I’ll tell you is, I don’t know if they had a single supplier that overlapped, makeup to farmers. What we do know is that our process of treating your suppliers, as they’re our customer, because ultimately their success is going to be your success is a huge piece of what we do. The outreach from offering support to getting them the assistance they need. We survey our suppliers all the time to say, “What’s working well for you? What do you have your feedback on? Because again, this is a really key group, we like to handle as much of the heavy lifting as possible, because again, that’s part of what sets us aside is the fact that we’re going to work with your supplier, answer their questions, ease their fears. Same with the buyer side is we’re going to help them because what we find is, a lot of the times that we’re met with resistance, it’s really somebody that says, “I’m nervous about a change, and I don’t want let my customer down. I want make sure that I’m not falling behind.”
And so by just taking some extra effort and some time and making sure that they feel valid in that and that we’re going to support them along the way is really helpful. And again, there’s a lot of touches and things that we do on our side to keep the ball moving. Getting them into the platform is the first step that I sometimes feel is the easiest. Then what we want start doing is making sure they’re doing the right things in the platform. Thinking of someone like DuraMark, who needs the right information in. If we have somebody trained but they’re not using it, like you said, it becomes something that sits on the shelf. So as much as my group wants your suppliers onboarded, we want them using it as well. So that’s another thing that we spend time working with our customers to better understand and to help their suppliers perform as expected.
Colby: Yeah. And speaking of DuraMark, DuraMark was a SourceDay record – talk about time-to-value. You know, I remember DuraMark getting up and running in just six days. And how important that was for their organization, again, because agility and innovation are their core competencies. They looked at us like, “We’re up and running in six days, you guys are matching our agility.” So that’s always a great success story to talk about.
Christine: Yes. Who wants to go first?
Colby: Yeah. Who wants to go first? Again, it’s about not slowing down, right? It’s about being able to keep up the pace for their business, to be able to see your return on investment immediately. We’re not talking about 12, 14, 16 months until you start to realize gains; we’re talking about 1, 2, 3, 4, 5 months. And that’s when, when you look at your project load and what needs to get done in that year, grabbing that low hanging fruit to start to realize gains.
Again, back to supplier adoption, here, we’re talking about suppliers that they thought would be hesitant to get on. And so, let’s talk about this piece really quick, Christine, all the time I hear, when we’re talking with new customers, “Oh, we don’t have the clout to get suppliers on, or we’re a small fish to our big suppliers. I don’t know if they’re going to use it?” Those are very common questions that come up. And I know with DuraMark you know, DuraMark is a growing company, but not a huge conglomeration or anything, they had some of those worries. Seeing how they were almost surprised about folks getting on. Talk to us a little bit about how we balance the small suppliers and the big suppliers.
Christina: Absolutely. For a lot of our suppliers, again, it’s just changing the verbiage, having a different conversation with them. The value to the supplier runs almost parallel to the value for the buyer. There are things that they’re waiting to get updates on. They want to make sure that if something is showing as late on your end, and they’re showing it as shipped, there’s that a way for them to follow up with you and say, “Hey, I shipped this here.”
For a lot of our suppliers, again, the value pieces, we want shave time out of your day as well, we don’t want you to be getting pinged every 30 minutes from your buyer, if there’s something that you’ve already provided back to them in the platform. That’s one of the things too, that circular loop of communication, and everyone having the same mirrored view of each other and seeing where that line is at allows them to also hold their buyers accountable. We do see from time-to-time suppliers raising their hand and saying, “Go tell my buyer that they need to be doing this, I’m giving them all this information.”
What we find, again, is the value for them, while seemingly different, is still very much the same piece. And it’s not something that a supplier should be spending 20 minutes a day in the platform taking all these extra steps, it should be something they can come in, they can act quickly, they can take out the information that they might need, and again, go back to their day and be more proactive, more strategic, and really just sort of button up things that took much longer time.
Colby: Yeah. And again, on the surprise theme of suppliers using SourceDay that maybe they wouldn’t think was exactly Farmers Business Networks’ experience as well, to all our surprise, vendors went smoothly with adoption. Again, it’s the number one thing that gets asked, and it should get asked, because you’re relying upon a third party to utilize the solution. And we’ve really figured it out with the two sides of the implementation. There’s the technical piece, and then Christine’s piece of ensuring, and really, we can guarantee supplier adoption success, and we stand behind it. And it’s always so nice when you have folks telling us how surprised they were and how easy this was to turn on, and to get up and running and suppliers use it that they didn’t think that they would.
And that’s the reason that the whole thing is successful. That is the reason that all three of these clients were able to mitigate growth risks, de-risk their revenue, and ultimately eliminate a lot of those factors that you guys set out there, production delays, risk to revenue. The things that put your business at risk, because there’s a big gap between you and your supplier network. And all three of these clients were able to extend NetSuite’s capabilities to the supplier network in a very quick time-to-value with SourceDay Built for NetSuite solution.
I think that’s all we’ve got today from our customer story standpoint, we wanted to turn it over to live Q&A. So, everyone who’s got questions, please dump them into the Q&A, we’ve got a few lined up that I can answer. But if you have any lingering, please drop them into that box and we will answer them. The first question that has come up is how exactly did SourceDay help these clients have better on-time delivery? Great question.
A big piece of SourceDay is proactive communication. It’s not just reactive. In the email, spreadsheet, phone call world you’re chasing suppliers. SourceDay allows you to have automation to proactively communicate with your supplier network, before ship dates and delivery dates. And that’s ultimately what’s helping boost on-time delivery by on average 35%. Great question. The next question I’ll let you, Christine, take it is do you onboard suppliers all over the world?
Christine: Yes, Yes, we do. We have a lot of different resources that help us make this possible. It’s a big piece that we talk about with our customers in the beginning, so we can get a lay of the land. But we have suppliers all over the world. We welcome it, and are always excited when we can beef up on some of our translations, our coordination, and what we find too, ultimately, is the things that we build out, the helpdesk, things like that are incredibly useful for those suppliers.
Colby: Absolutely. Great. The next question here is does SourceDay live in NetSuite or is it a separate application? Great question. So we are a Built for NetSuite integrated app. We are our own web based cloud application. We do not live inside of your ERP, but as our own web app outside of the solution. Very, very good question.
Does SourceDay update NetSuite with supplier updates? Absolutely, our integration is bilateral. We’re not just pulling information out of NetSuite to surface to the suppliers, but as any proposed changes come back to you that are accepted, we update nets NetSuite in real time. And that’s a huge benefit to your system and to your supply chain, that you can trust that the information in NetSuite on dates, quantities, pricing, that is all accurate. If it’s in your system, you know it’s the latest and greatest from your suppliers, which drives better KPIs and better intelligence inside of your system.
Christine: It also cuts down on human error. I think every customer when they go live, we find a few orders that say, like 2071. And they’re like, “Oh, whoops, that wasn’t right.”
Colby: Yeah. Next question, Christine, you can take, does SourceDay provide a supplier scorecard for performance metrics?
Christine: We do. And the really great thing about it is it’s fairly customizable. So what one customer is using for their metrics, varies across the board. And it’s something too that’s evergreen in that you can come in and make adjustments. I think a lot of our customers know who their top supplier is and who their bottom suppliers are. And they’re very surprised by the middle. A lot of times what we see is people tend to start tightening that scorecard up and grading more aggressively as they’re finding areas that they can improve upon.
Colby: Right. Yep. And last question, and then we can wrap it up here for the afternoon is, specifically we use all contract manufacturers overseas and do drop shipments, do any of these customers have that model? Great question. And the world is moving more and more into that. Especially we see a lot of NetSuite clients using global contract manufacturers to try to hold as little inventory as possible, doing a lot of drop shipment.
So Winky Lux, absolutely, with that model, they had majority overseas contract manufacturers, and the majority of their orders were drop shipped directly to those big box stores. And it’s really a smart way to buy, so you don’t have the holding costs of keeping all that inventory and then distributing it. So absolutely use that model. And what’s crucial about it too, is the visibility from your CMS, to the end customer, or your retailer, knowing when it ships, where it is on water, when it’s going to arrive, the expected dates. All that is so important to, again, remove those blinders that are just there when you’re only using emails and spreadsheets.
Well, I think that’s it. If anyone has any last questions, feel free to drop them in. I’ll hang on for just a few minutes longer, but we appreciate everyone joining today. Thank you for your interaction in the polls and the great questions. And if you have any lingering questions, or asks, or you want to learn more about SourceDay, don’t hesitate to reach out. I appreciate everyone for joining. Christine, thank you so much for being on.
Christine: Thanks. Look forward to working with more of you guys.
Colby: All right. Take care.