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NetSuite New Ingredient In Guzman Y Gomez Success
May 15, 2013 (03:05 PM EDT)
SAN JOSE, Calif., May 15, 2013 /PRNewswire/ -- NETSUITE SUITEWORLD 2013 -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced that Australia's largest Mexican dining chain Guzman y Gomez has turned to NetSuite to support its rapid Asia-Pacific expansion, including the planned opening of seven new restaurants in 2013. Guzman y Gomez switched from MYOB to NetSuite OneWorld to provide a complete cloud-based business management solution to better manage its financials, assets and core business processes—all with minimal in-house IT resources. NetSuite OneWorld provides multi-subsidiary support that allows Guzman y Gomez to manage its operations in real-time by consolidating financials, automating reporting, performing real-time cost of sales analytics and enforcing corporate governance standards in franchise operations in Australia, Singapore and any new Asian market it enters. To learn more about NetSuite OneWorld, please visit www.netsuite.com/OneWorld3
Founded in 2006, Sydney-based Guzman y Gomez (or GYG as the regulars call it) has grown from a single restaurant in Newtown, to 25 restaurants employing more than 900 people across Australia, as well as eight franchise partners. It is planning to have 35 outlets including its first regional restaurant in Singapore by the end of 2013.
Robert Hazan, co-founder of Guzman y Gomez, said, "To support our growth, we invested heavily in technology, especially our state of the art point-of-sale (POS), labor rostering software, entertainment systems and menu boards. But our most important tool, our financial systems, were well behind and struggling to cope with our rapid growth. It became increasingly painful to watch our finance team slave away at those systems, which became slower the bigger we grew."
Familiar with the scalability of NetSuite's cloud-based business management suite, Gomez y Guzman selected NetSuite OneWorld as a robust, enterprise-grade tool to provide a single, consolidated view of its subsidiaries and support its future expansion plans.
"While we might not be classified as an enterprise-size business just yet, we plan to be," Mr. Hazan added. "We know NetSuite can keep up with our future growth plans and scale with us no matter how big we grow."
Since implementing NetSuite OneWorld in July 2012, Guzman y Gomez has taken advantage of NetSuite's advanced customization tools to automate manual finance and accounting procedures. Exporting POS data straight into NetSuite supports tighter financial controls and saves approximately one day per month of administration time. It also collects detailed cost of sale data in NetSuite, allowing it to perform in-depth cost of goods analyses that were previously time and cost prohibitive.
In addition, NetSuite automatically generates royalty and marketing levy invoices for franchisee partners and enables it to report on individual outlet performance, as well as conduct comparative business reviews.
"If I add up all of the time savings from NetSuite, we're saving at least one headcount and we've only just scratched the surface of what NetSuite can do for us," Mr. Hazan said. "I'm now also able to gain access to really detailed reports in any format I want, which is great for our business."
In the coming months, Guzman y Gomez plans to begin implementing a comprehensive asset management register on NetSuite, allowing it to manage whole restaurant fit-outs with greater ease. This register is also expected to support asset maintenance with scripted built-in alerts for servicing or replacing products and parts.
Mark Troselj, managing director of APAC for NetSuite, commented: "While NetSuite has several large and complex restaurant business customers globally, we're thrilled to be able to help an exciting brand like Guzman y Gomez minimize the many pain points of rapid growth. By providing a real-time window into every new restaurant it opens in Australia or anywhere in the world, NetSuite can enable the franchise to grow from a national to an international success with much greater ease."
For more information about NetSuite please visit www.netsuite.com.
For more information about Guzman y Gomez please visit http://www.guzmanygomez.com.
NOTE: NetSuite and the NetSuite logo are service marks of NetSuite Inc. Third-party trademarks mentioned are the property of their respective owners.
SOURCE NetSuite Inc.