Raw Sugar
Case Study
Raw Sugar Living's Transformation with MindStream Analytics and NetSuite Planning and Budgeting
Raw Sugar, a burgeoning company in the Health & Beauty industry, embarked on a transformative journey to overhaul its budgeting, forecasting, and financial planning processes. The company sought the expertise of MindStream Analytics and the technological prowess of NetSuite Planning and Budgeting (NSPB) to navigate through its challenges and streamline operations.
Raw Sugar was founded with a vision to make a significant impact in the Health & Beauty sector. As the company grew, so did the complexity of its operations, necessitating a robust solution to manage its financial and operational planning processes. Previously relying on a combination of Excel worksheets for planning tasks and Netsuite for ERP, Raw Sugar faced several challenges that hampered its efficiency and decision-making capabilities.
Challenges
- 1. Inefficient Forecast and Budget Processes: The lack of integration between planning and ERP systems led to inefficient budgeting and forecasting processes.
- 2. Difficulty in Accessing Real-Time Data: Raw Sugar struggled with accessing real-time data for critical decision-making, particularly in aligning budget forecasts with actual financial performance.
Solution
MindStream Analytics, leveraging NetSuite Planning and Budgeting (NSPB), presented a comprehensive solution that promised to address Raw Sugar's challenges. The choice of NSPB was driven by its seamless integration capabilities, scalability, and a strong reputation for reliability.
Implementation
The implementation of NSPB was meticulously planned and executed by MindStream Analytics, focusing on:
- 1. Modules: Standard NSPB implementation in SmartView and a custom Sales and COGS module.
- 2. Customizations/IP: A custom module for Sales and COGS, enhanced data visualization, and custom forms/reports were developed to cater to Raw Sugar's specific needs.
Benefits
- 1. Improved Data Analysis Capabilities: The integration of actual financial data from the ERP system with budgeting and forecasting processes in NSPB allowed for real-time management and improved data analysis.
- 2. Enhanced Business Operations Visibility: With NSPB, Raw Sugar experienced improved visibility into its operations, leading to enhanced data accuracy and better decision-making capabilities.
Outcome
The implementation project was a resounding success, completed within a limited timeframe. The NetSuite-Smartview integration was accomplished in just one week, demonstrating the efficiency and effectiveness of the solution provided by MindStream Analytics.
Future Plans
Raw Sugar plans to continue leveraging NSPB for its financial and operational planning while exploring further customization options to enhance its forecasting capabilities and reporting processes.
The partnership between Raw Sugar, MindStream Analytics, and NetSuite Planning and Budgeting stands as a testament to the transformative power of integrated financial planning solutions. With improved efficiency, enhanced data accuracy, and better visibility into its operations, Raw Sugar is well-positioned to continue its growth trajectory in the Health & Beauty industry.
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