Young Nails, Inc. Business Overview
Run by the dynamic Salo brothers and respected for its next-level product innovation and education, Young Nails Inc., is a professional nail care manufacturing company exporting to more than 40 countries worldwide and distributing domestically to 3,000+ stores. But, CEO Habib Salo clarifies, "[W]hat we really do is teach nail professionals or anyone who's passionate about nails, how to be successful with nails."
How ORBA CFO Cloud Services helped Young Nails, Inc. increase its sales revenue by 29% in one year using NetSuite
"One of the biggest struggles, especially in the finance department, is finding someone who is not only competent, but also who you can trust." – Habib Salo, CEO of Young Nails, Inc.
The Challenges
Financial Reporting
Without a consistent finance team, Young Nails was behind in
financial reporting, and therefore, without tangible insights into
the profitability of their sales channels.
"Because of our growth, finding someone with the right expertise was a challenge." – Habib Salo, CEO of Young Nails, Inc.
Inventory Management
A shift in model meant a greater need for inventory discernment and
an entirely new e-commerce solution. Young Nails had no real-time
inventory data and was scrambling to get product in time to sell
it; or worse, running out of stock resulting in lost sales.
Stemming from the same issue, they were also unaware of how much of
their lost profits were due to reshipping damaged or missing
product.
"Knowing that our [finances] are getting done better than ever is a big deal." – Habib Salo, CEO of Young Nails, Inc.
The Results
Financial Reporting
With regular access to
ORBA's Cloud CFO team, Young Nails has real-time insight
into its financial reporting and sales channel profitability. Sales
revenue experienced a 29% increase comparing 2018 to 2019 YTD. Salo
elaborates, "[W]e now know that this is where we're
headed."
"Now, data is accessible. Being able to group information quickly and efficiently is extremely important, and we see it happening regularly." – Habib Salo, CEO of Young Nails, Inc.
Inventory Management
Young Nails' shift in model shaped a need for an entirely
new omnichannel ecommerce solution, in this case BigCommerce,
integrated with Celigo for NetSuite. By implementing RF-SMART for
NetSuite, Young Nails gained cloud access to a barcoding scanner
solution and accurate inventory data. Combined with the EDI
solution, SPS Commerce, Young Nails can now operate knowing that
they can service customers while adhering to EDI best practices,
providing an opportunity to focus on business growth.
When Salo explained to a third party who had implemented the NetSuite system, "[T]hey were shocked. It's not supposed to go this smoothly; they said it's probably one of the best go-lives they'd seen."
Read the full downloadable Young Nails and Netsuite Solution Case Study including the background, our solution framework and what's next for Young Nails moving forward.
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