NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that Electric Jukebox, a company aiming to revolutionise the way consumers listen to music in the home through a new music streaming product, has implemented NetSuite OneWorld to support its growth into a global business. Electric Jukebox uses NetSuite OneWorld to manage its mission-critical business operations including financials, financial consolidation, purchasing, order management, inventory management, multi-currency management, multi-language management and multi-country tax compliance across its head office in the UK and US subsidiary. With NetSuite OneWorld, Electric Jukebox is better able to focus on international business growth from day one with a system that can scale with rapid business growth and allows them to have a single view across its entire business.
Electric Jukebox leverages NetSuite’s flexible and powerful SuiteCloud Development Platform for its customisation and integration needs such as integrations between NetSuite and its US and European logistics partners, online consumer shop and third party retailers.
Founded two years ago, the company creates fun and easy-to-use music products for the home which make music streaming easier and more accessible to everyone. Electric Jukebox turns your TV into the ultimate jukebox with 30 million songs to enjoy on-demand with no ads and no subscriptions to worry about.
As a disruptive and globally ambitious business, Electric Jukebox required an ERP system that would meet the needs of today and also those of tomorrow. The business’ success depends on its ability not only to handle huge amounts of data whilst providing a seamless service to its customers, but also to deal efficiently with a high volume of multi-currency payments in a fast growth environment. It was clear that NetSuite was the best choice for Electric Jukebox to build its business on.
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With support for 190 currencies, 20 languages, and automated tax compliance in over 100 countries, NetSuite OneWorld can help Electric Jukebox achieve:
- Rapid expansion. NetSuite OneWorld’s powerful international capabilities can enable the business to quickly and easily establish new entities as the brand expands globally.
- Flexible and powerful customisation and integration capabilities. NetSuite’s SuiteCloud development platform provides flexible customisation tools to meet the business’ needs and power integration capabilities that allow the company to integrate NetSuite OneWorld with other applications quickly.
- Real-time analytics and reporting. NetSuite’s dashboards, reporting and analytical tools can enable Electric Jukebox to monitor, report and analyse all KPIs across the board.
- Real-time global financial consolidation. NetSuite OneWorld can provide real-time visibility across all of Electric Jukebox’s subsidiaries, divisions and business units with a single financial system of record.
William Morgan, COO of Electric Jukebox said: “The great thing about NetSuite OneWorld is that it’s going to be easier for us to grow while retaining complete visibility over business performance from within a single system. As the business grows, we need to control spend and efficiency. NetSuite gives us this functionality and a comprehensive dashboard to manage our entire business.”
Today, more than 30,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of cloud-based financials/enterprise resource planning (ERP) and omnichannel commerce software applications for businesses of all sizes. Many FORTUNE 100 companies rely on NetSuite to accelerate innovation and business transformation. NetSuite continues its success in delivering the best cloud business management software to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.