Chefs Toolbox Satisfies Hunger for Savings

Chefs Toolbox Satisfies Hunger for It Savings With Switch to Netsuite Oneworld

Six Month Implementation Moves Chefs Toolbox from Microsoft Dynamics GP Pain to NetSuite OneWorld Gain

Sydney — 12 October 2010 — NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERP software suites, today announced that The Chefs Toolbox (www.chefstoolbox.com) has implemented the NetSuite OneWorld solution to run its international cookware sales and distribution business in Australia, New Zealand, and the United States. Choosing NetSuite OneWorld saves The Chefs Toolbox hundreds of thousands of dollars, including reduced accounting hours and consulting fees, as well as eliminating the costs and IT overhead of maintaining expensive enterprise servers. The Chefs Toolbox relies on NetSuite for accounting and ERP, inventory, CRM, reporting, analytics, and integration with key production applications. For more information about NetSuite OneWorld, please visit www.netsuite.com/oneworld.

The Chefs Toolbox was founded in 2003 with the mission of "inspiring cooking in every home". Initial successes and growth in the Australian market with in-home party sales led to expansion to New Zealand. As the company's revenues and complexity grew, the start-up software powering the company showed its limitations, so The Chefs Toolbox undertook a migration to Microsoft Dynamics GP. But after one year of intense investment and effort, the project was abandoned. The system was cumbersome, expensive, and opaque. Reporting was virtually unavailable and a permanent solution would have required another six-figure investment.

With expansion to the US, and the adoption of a new wholesale/distribution sales model looming, The Chefs Toolbox made the bold decision to cut ties with Dynamics GP and switch to NetSuite OneWorld. After a few weeks, most of the functionality was live. The entire project, including integration with the company's vertical-specific software to manage in-home parties, was completed in just six weeks.

"We quickly realised just how deep NetSuite's functionality is, and how much we would benefit from the cloud-based delivery," said David Mills, founder of The Chefs Toolbox. "NetSuite is powerful enough for us to enhance, refine, and grow with it."

NetSuite OneWorld, the world's first and only cloud-based solution for seamless multinational firms, gives The Chefs Toolbox transparent control over its international, multi-currency sales activities and customer support needs. NetSuite easily manages the two-tier customer relationship created by the in-home party system, where independent sales representatives sell to customers who then turn back to The Chefs Toolbox for support and warranty service. Previously, those relationships were tenuously managed on a hairball of spreadsheets.

NetSuite's pre-built and easily customisable reporting gives The Chefs Toolbox easy access to weekly profit analysis, allowing the company to cut its outside accountant's hours in half. The flexibility and easy customisation of the NetSuite solution have also reduced consulting fees compared to the previous Dynamics GP system. Instead of struggling for visibility, Mills and his team now enjoy instant, up-to-the-minute insights into sales activity, inventory levels, and business health, and can focus all their efforts on expanding the adoption of quality in-home cooking with Chefs Toolbox products.

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

ENDS

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