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WINNING COMBINATION OF NETSUITE AND BRONTO DELIVERS PERSONALIZED, OMNICHANNEL BRAND EXPERIENCES

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WINNING COMBINATION OF NETSUITE AND BRONTO DELIVERS PERSONALIZED, OMNICHANNEL BRAND EXPERIENCES

RST Brands, PetShop.co.uk and International Wine Accessories grow revenue and build brand loyalty with omnichannel commerce cloud platform

NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that a number of leading merchants continue to utilize NetSuite and Bronto solutions to streamline their business, deliver continuous customer engagements and drive revenue. As a result, these brands have increased their email open rates by up to 100 percent, increased click-through rates by up to 20 percent and have increased email-driven revenue by up to 60 percent.

NetSuite and Bronto continue to be preferred solutions for omnichannel, cloud commerce and marketing automation. Most recently, Bronto earned the number one position among email marketing providers within the Internet Retailer (IR) Top 1000 for the third consecutive year.

Merchants replace siloed point solutions with NetSuite’s unified, omnichannel commerce platform to provide a single source of truth for customer, order and inventory information. Armed with that information, merchants can then use Bronto to deliver effective, data-driven interactions throughout the customer lifecycle with functionality such as its Pop-up Manager for capturing initial engagement, Predictor for recommendations and Cart Recovery to help increase sales. Shoppers get great brand experiences and reward merchants with their loyalty and repeat purchases.

“Even the savviest shoppers only occasionally visit their favorite stores and websites. Between visits, brands must keep customers engaged, creating experiences that result in transactions,” NetSuite’s General Manager of Commerce Products Andy Lloyd said. “The NetSuite/Bronto solution delivers relevant, accurate, timely and consistent experiences on any device throughout the customer lifecycle.”

RST Brands, PetShop.co.uk and International Wine Accessories use the winning combination of NetSuite and Bronto to deliver amazing brand experiences, while realizing significant benefits to their businesses.

RST Brands designs, manufactures and sells home and lifestyle décor, and outdoor and indoor furniture, via an omnichannel commerce model including B2B and B2C channels. The Utah-based business is the largest supplier of outdoor furniture to Costco and has experienced triple-digit growth since replacing its legacy financial software in 2011 with NetSuite’s cloud-based platform for ERP, CRM, ecommerce and order, inventory and warehouse management. RST Brands sells direct to consumers over rstbrands.com and flowwall.com, with both ecommerce sites running on NetSuite SuiteCommerce. With NetSuite’s centralized order management, RST enables a lean team to process more than 80,000 orders per year from its webstore and through Amazon and major retailers, including Home Depot and Costco.

In 2015, RST implemented Bronto’s commerce marketing automation solution, eliminating the manual process of transferring email addresses captured online into a spreadsheet. New subscriber information now moves directly into automated workflows, which generate emails customized to different groups – consumers, designers or builders. RST can easily segment customers by order details, order size and region to deliver relevant messaging and promotions. Customers who purchase from a retailer of RST products can register their warranties online with RST to receive personalized emails promoting accessories and replacement items associated with their original purchase.

Since RST switched to Bronto, email open rates have increased by 12 percent, click through rates are up 30 percent and email-driven revenue has increased 60 percent.

“With Bronto and NetSuite, we can better understand our customers,” RST Brands Ecommerce Manager Matt Grimm says. “We are able to see patterns, understand who hasn’t purchased from us and determine how to convert them into customers.”

PetShop.co.UK is a rapidly growing, UK-based online dog and cat food, beds, medicines and accessories retailer that needed to overhaul its business systems to continue its growth. The company replaced its legacy financial software with NetSuite cloud ERP. For ecommerce, the company replaced its Big Commerce solution with SuiteCommerce and replaced Infusionsoft with Bronto for marketing automation. By consolidating multiple, disparate systems and automating manual work in the supply chain, the company increased efficiencies, reduced errors, improved customer service and fostered continued growth. With NetSuite, PetShop.co.uk has gained access to multiple data points, including customer retention rates, subscription sign-up and drop-off figures, and sales growth by brand, which is crucial planning information to better understand its customers and grow its business.

The company’s SuiteCommerce webstore provides the flexibility to easily tailor the website design and experience instead of enduring restrictive, vendor-provided templates. With responsive design, the site supports the company’s growing customer base that purchase from multiple devices, while a one-click, check-out process has streamlined the path to purchase. PetShop.co.uk also offers its unique “BottomlessBowl” subscription dog and cat food service. From their online account, pet owners use self-service features in SuiteCommerce to manage the frequency and quantity of automatic shipments of pet food and supplies as well as information on their pets including its birthday, a photo and health data.

With Bronto, the online retailer now uses the data captured from its site to deliver dynamic email marketing engagements specific to a customer’s purchase history, and type and age of their of pet. In just 90 days, email open rates have doubled, conversion rates from email offers have soared to 13 percent and email marketing has generated more than a third of its website revenue. In addition, Bronto-based email engagements have increased annual revenue.

“Our business will grow with our solution,” founder Adam Taylor said. “We’ve shifted focus from managing systems to maximizing revenue and offering our customers the very best Pet Parent customer experience.”

International Wine Accessories (IWA) manufactures and sells wine cellars and racks, state-of-the-art cooling systems and unique wine accessories. Since 2009, the company has increased its revenue 300 percent by replacing its legacy financial software with NetSuite for ERP, CRM, inventory and order management, and its ecommerce needs. IWA reduced its average order processing times from 20 minutes to 20 seconds, and has gained real-time control and insight into inventory to speed fulfillment and reduce costs.

In 2014, the company upgraded to SuiteCommerce to support its omnichannel commerce strategy, creating a webstore to support its B2B and B2C business. The site provides an online experience with rich, item content and images, faceted search, custom wine glass personalization and also a learning center with product comparisons and buying guides. The mobile-friendly website has increased conversion by 70 percent for desktop users and 17 percent for mobile users. Business users get robust, self-service functionality, such as password-protected account access, payment terms and tiered pricing based on each customer’s profile, order history, and unique shipping methods that are exclusively available to business accounts.

Most recently, IWA replaced its Constant Contact email marketing system with Bronto to deliver relevant, accurate and timely digital engagements. The company can easily segment customers based on a number of attributes in NetSuite, including last products purchased, and performs A/B tests for both design and messaging. With email lists automatically imported from NetSuite, IWA saves about 15 minutes per email sent. In addition, IWA’s open rates have improved by 15 percent, click-through rates have improved 20 percent and email-driven revenue has doubled since IWA started using Bronto.

“We went from black and white to technicolor with NetSuite and Bronto,” IWA president, Ben Argov said. “Instead of taking two steps forward, we’ve advanced two miles in the same amount of time. We’re absolutely more effective with our messaging and our customers are responding with increased revenue per email.”

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.

For more information about NetSuite, please visit www.netsuite.com.

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Investing into a more sustainable future: changing businesses from the inside out

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Investing into a more sustainable future: changing businesses from the inside out 1

By Shawn Welch, Vice President and General Manager of Hi-Cone Worldwide

As industries across the world are facing unprecedented uncertainty and anticipating the economic implications of the current health crisis, business leaders have the unique opportunity to seize the chance to make lasting, positive changes and re-interpret the business challenges in a positive way – without forgetting or minimising the toll the pandemic has taken. When trying to identify a way forward, the future must be sustainable. We must take this opportunity to find a more sustainable way for businesses and manufacturers to survive.

Environmental and economic concern have only increased the gap on what consumers want – more sustainability – and how much progress businesses can make without risking their viability. However, rather than giving up on ambitious goals, maybe we need to reframe the way we look at sustainability. So far, businesses have tended to react to consumer demands, often without looking into the long-term implications and research-based due diligence one would expect. Therefore, now is the right time to be more deliberate: to continue on the path towards a truly sustainable ‘new normal’, businesses need to consider the bottom line impact more than ever before and truly invest in changing their business models to become more sustainable.

Shawn Welch

Shawn Welch

To meet the UN’s ambitious 2030 Sustainable Development Goals, businesses ultimately must thrive – working towards establishing a circular economy remains crucial. Instead of a linear ‘extract, use, dispose’ approach, materials need to be respected and re-used as many times as possible, which is only possible if products are designed for re-use, re-manufacturing, repair or restarting. After all, any and all consumption comes at a price. In manufacturing, processes draw on resources to produce items that, once they have served their purpose, become surplus to requirements. Yet, to ignore this is to take an incomplete view of sustainability: instead, materials are extracted from waste to re-enter production processes. Reuse and recycling initiatives are central to this and great strides have been made in raising awareness of this need. The full environmental cost of production and consumption includes the choice of materials themselves but also the level of carbon emissions generated, and energy consumed.

Once products and processes have redesigned for a circular approach, this initial investment will often easily be recouped, especially if we start with looking at the facts when starting this crucial process. To make the Circular Economy a focus for any business very often means changing the business model. Here, investing in research and development is vital. In the packaging industry, for example, we are seeing that customers and consumers are increasingly more focused on sustainability, and that surprising changes can unlock societal and business value. Through minimising a product’s carbon footprint or making recycling easier for consumers, lifecycle-assessment-based product redesigns or using recycled plastics instead of larger quantities of cardboard, companies are identifying these more creative options and enjoying the long-lasting benefits that come with implementing them. In any case, leadership is key. A research-driven approach gets everyone on-board and seeing management committing to these goals as part of business plans helps cement these. At a recent Reuters Responsible Business Summit virtual panel, I was part of an interesting conversation. Here, Yolanda Malone, Vice President Global R&D Snacks PKG, PepsiCo, discussed how leaders have to drive the behaviours within the organisation and the tone for the culture. She explained that her sustainable plastics vision is a world where plastics never become waste. Only through putting the mantra of “reduce, recycle, rethink and reinvent” can we bring circular products to consumer. She stressed that, if we don’t reinvent, we will fall back into old habits.

Of course, consumer behaviours play a part and the easier the solution, the more likely consumers will get behind it. End consumers are becoming increasingly conscious of packaging. So, to be truly circular, we need to take into account the entire lifecycle. Mindset change needs to continue to happen. Consumers need to be clear about what their choices are. To achieve this, we must change our businesses from the inside out, allowing for close collaboration inside and outside of our organisations. Other organisations – such as governments and recycling organisations – will need to be involved in businesses’ efforts, multiplying the impact our investments will have. We must address all aspects of sustainability and, for example, have better recycling, a focus on infrastructure and emphasis on consumer education. To recover, reuse and recycle, the R&D must be in place and dedicated to sustainability. Partnerships are important as we, as other leading global companies realise, cannot do this alone. Collaboration is key when investing in a more sustainable, more Circular, future.

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Securing Information Throughout the Supply Chain – Preventing Supplier Vulnerabilities 

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Securing Information Throughout the Supply Chain – Preventing Supplier Vulnerabilities  2

By Adam Strange, Data Classification Specialist, HelpSystems 

The financial services sector is experiencing extreme disruption coupled with rapid innovation as established institutions strive to become more agile and meet evolving customer demand. At the same time, new market entrants compete fiercely for customers. Increasing operational flexibility, through the deployment of cloud infrastructure or via digital transformation initiatives, is critical for future competitiveness but it has also driven regulatory and security challenges, particularly around working with suppliers.

That said, the benefits of a diverse, interconnected supply chain are compelling: agility, speed, and cost reduction all weigh on the positive side of the equation, prompting financial institutions to pursue close, collaborative relationships with suppliers, often numbering in the hundreds or thousands.

Weakness in the supply chain

On the negative side is the increased cyber threat when enterprises expose their networks to their supply chain. In our modern interconnected digital ecosystems, most financial organisations have many supply chain dependencies and it only takes one of these to have cybersecurity vulnerabilities to bring a business to its knees.

As a result, breaches originating in third parties are common and costly – a Ponemon Institute/IBM study found that breaches being caused by a third party was the top factor that amplified the cost of a breach, adding an average of $370,000 to the breach cost.

Concern around the supply chain was also evidenced in a recent report we have just issued, whereby we interviewed 250 CISOs and CIOs from financial institutions about the cybersecurity challenges they face and nearly half (46%) said that cybersecurity weaknesses in the supply chain had the biggest potential to cause the most damage in the next 12 months.

But sharing information with suppliers is essential for the supply chain to function. Most financial services organisations go to great lengths to secure intellectual property, personally identifiable information (PII) and other sensitive data internally, yet when this information is shared across the supply chain, does it get the same robust attention?

Further amplified by COVID-19

Financial service organisations have always been a key target for cyber attacks.  Our research showed that since COVID-19 hit, the risk has elevated further, with 45% of the respondents seeing increased cybersecurity attacks during this period. Likewise, hackers are rejecting frontal assaults on well-defended walls in favour of infiltrating networks via vulnerabilities in suppliers.

But financial services organisations must maintain reputations and ensure customer trust. Firms are keen to demonstrate that they are protecting customer assets, providing an ultra-reliable service and working with trustworthy partners. So, what can they do to better protect their supplier ecosystem?

At the very least, they need to ensure basic controls are implemented around their suppliers’ IT infrastructure.  For example, they must ensure suppliers maintain a secure infrastructure with a minimum of Cyber Essentials or the equivalent US CIS certification controls. Cyber Essentials defines a set of controls which, when implemented, provide organisations with basic protection from the most prevalent forms of threats, focusing on threats which require low levels of attacker skill, and which are widely available online.

Likewise, they need to ensure good information management controls are in place and this begins with accurate information/data classification. After all, how can you apply appropriate controls to your information unless you know what it is and where it is?

How ISO27001 helps organisations put in place a data classification process

The international standard on information security, ISO27001, describes the basic ingredients for data classification to ensure the data receives the appropriate level of protection in accordance with its importance to the organisation. It comprises three basic elements:

  • Classification of data – in terms of legal requirements, value, criticality and sensitivity to unauthorised disclosure or modification.
  • Labelling of data – an appropriate set of procedures for information labelling should be developed and implemented in accordance with the organisation’s information classification scheme.
  • Handling of assets – procedures for the handling of assets developed and implemented in accordance with the organisation’s information classification scheme.

Adoption of this methodology will help financial services organisations and their supply chain take a more data-centric information security approach. However, there are essentially four key stages for implementing a data risk assurance supply chain approach and these are:

 1. Approval – in organisations with complex supply chains senior management, vendor management, procurement and information security will all need to support a robust risk-based information management approach. Details of previous incidents and their impact alongside the business benefits will be essential to gain stakeholder buy in.

 2. Preparation – Organisations should start with Tier 1 suppliers and initially identify the contracts with the highest business impact/risk. They should identify and record information repositories and the data that they contain together with the responsible business owners. Define a business taxonomy based on information categories of that data and include supply chain factors such as what information categories are shared.

For example, they need to understand the business impact of compromise against each of the information categories. Have any suppliers suffered security incidents? What assurance mechanisms are in place? Once all this information is collated the organisation can create a data classification policy and define a set of controls for each data category.

 3. Discovery – Select each data category and identify the associated contracts. Then prioritise the data category based on the risk assessment and verify that the data security controls and arrangements for each data category and contract meet the overall requirements. Once complete, hand over the contract for inclusion in the vendor management cycle.

4. Embed process – the overall objective is to embed information risk management into the procurement lifecycle from start to finish. Therefore, whenever a new contract is created there are a number of actions required which embed data risk at each stage of the bid, tender, procurement, evaluation, implementation and termination phases of the contract.

To summarise, organisations should start by researching the information risk and security frameworks such as ISO27001 and others. They should then focus on defining their business taxonomy and data categories together with the business impact of compromise to help develop a data classification scheme. Finally, they should implement the data classification scheme and embed data risk management into the procurement lifecycle processes from start to finish. By effectively embedding data risk management and categorisation into their procurement and vendor management processes, they are preventing their suppliers’ vulnerabilities becoming their own and are more effectively securing data in the supply chain.

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Deloitte: Middle East organizations need to rethink their workforce in the wake of COVID-19

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Deloitte: Middle East organizations need to rethink their workforce in the wake of COVID-19 3

Organizations in the Middle East have had to take immediate actions in reaction to the COVID-19 pandemic, such as shifting to remote and virtual work, implementing new ways of working and redirecting the workforce on critical activities. According to Deloitte’s 10th annual 2020 Middle East Human Capital Trends report, “The social enterprise at work: Paradox as a path forward,” organizations now need to think about how to sustain these actions by embedding them into their organizational culture.

“COVID-19 has created a clarifying moment for work and the workforce. Organizations that expand their focus on worker well-being, from programs adjacent to work to designing well-being into the work itself, will help their workers not only feel their best but perform at their best. Doing so will strengthen the tie between well-being and organizational outcomes, drive meaningful work, and foster a greater sense of belonging overall,” said Ghassan Turqieh, Consulting Partner, Human Capital, Deloitte Middle East.

According to the Deloitte report, many organizations in the Middle East made quick arrangements to engage with employees in the wake of the pandemic through frequent communications, multiple webinars where senior leaders addressed employee concerns, virtual employee events, manager check-ins, periodic calls and other targeted interactions with the workforce.

The report also discussed how UAE and KSA governments have reexamined work policies and practices, amended regulations and introduced COVID-19 initiatives to support companies and the workforce in the public and private sectors. Flexible and remote working, team-building and engagement activities, well-ness programs, recognition awards and modern workspaces are among the many things that are now adding to the employee experience.

Key findings from the Deloitte global report include:

  • Only 17% of respondents are making significant investments in reskilling to support their AI strategy with only 12% using AI primarily to replace workers;
  • 27% of respondents have clear policies and practices to manage the ethical challenges resulting from the future of work despite 85% of respondents saying the future of work raises ethical challenges;
  • Three-quarters of leaders are expecting to source new skills and capabilities through reskilling, but only 45% are rewarding workers for the development of new skills; and
  • Only 45% of respondents are prepared or very prepared to take advantage of the alternative workforce to access key capabilities despite gig workers being likely to comprise 43% of the U.S. workforce this year according to the Bureau of Labor Statistics.

“Worker well-being is a top priority today, and similarly to the rest of the world, companies in the Middle East are focusing their efforts to redesign work around well-being by understanding workforce well-being needs,” said Rania Abu Shukur, Director, Human Capital, Consulting, Deloitte Middle East.

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