Weaving the right strategy for continued success
Managing Director: Jordan Prainito
Location: Richmond, VIC
Industry: Online Retail & Wholesale
Luxury homewares brand Canningvale was founded in 1977 by father and son, Giovanni and Frank Prainito. Giovanni migrated to Australia with Frank joining him shortly after, putting their efforts into the textile business. By 1981, their growing company relocated to the fledgling industrial zone of Canning Vale and became Canningvale Weaving Mills. Today the business, now located in Richmond, Victoria, employs over 20 people. Canningvale’s mission of making luxury homewares attainable for consumers has come to life and drives the company forward; its products now ranging from beautiful bed linen and towels to furniture and homewares. The road to success is one that has spanned across multiple cities, with technology becoming an essential part of that journey.
Why did Canningvale choose JCurve ERP?
Canningvale was previously operating on a legacy Microsoft Dynamics platform. The company identified online retail as its key growth opportunity and needed a more robust ERP solution to support its expanding requirements (and its rapid business growth).
Jordan Prainito, MD of Canningvale Australia, explains, “As we transitioned from a manufacturer, to an importer, to a branded online retailer and wholesaler, our business requirements were changing very fast. We wanted to know how we could streamline all of our in-house processes, from order processing, through to managing customer data and order history.”
After looking at several options, it became clear that JCurve ERP, an exclusive small business edition of NetSuite, was the perfect fit. JCurve ERP could deliver real-time visibility to inform agile business decision making. The system was also easily scalable to NetSuite editions. The benefit of having one ERP platform to support Canningvale throughout all stages of its continued growth was a compelling proposition.
Our formula is to remain always Agile, Independent and in Control of our Destiny and we achieve this
through Adaptability, Innovation and Competence. NetSuite has empowered us to do this.
Empowering real-time visibility and reporting
The implementation of JCurve ERP allowed the business to leverage automation and reduce the time and effort spent on manual tasks and tedious data entry. Within only a year of using the JCurve ERP platform, Canningvale’s stellar business growth saw it ready to scale. The company
migrated onto a higher-tier NetSuite platform in this time – much sooner than the five years they had initially anticipated. Jordan estimates that JCurve ERP delivered ROI in just six months, inclusive of the implementation costs.
Canningvale sees remarkable benefits from NetSuite’s reporting capability. One stand-out customization is the GMROI ratio (Gross margin return on investment ratio). This ratio shows the gross margin gained from investing in inventory; in a nutshell, how effectively stock is being turned into gross profit. Canningvale also uses the GMROI report, combined with online analytics data, to understand its best-performing products across online and retail channels.
NetSuite’s advanced reporting has also helped Canningvale manage B2B margins more effectively, with a real-time view of what products are selling, at what price, and whether or not the margins are sustainable.
NetSuite’s real-time, live data on sales has been very powerful for our business. It has saved us money and provided the additional information we now use for stock control and management reporting.
Live visibility across the business and powerful reporting have helped Canningvale to make more strategic, profit-driven decisions. As Jordan explains, “NetSuite’s reporting and audit trail are outstanding – from a finance point of view, you have absolute visibility, which is truly empowering. You can slice and dice reports and drill down on actionable insights. We can view different sales in channels in a matter of minutes, whereas in the past that involved hours of data manipulation.”
NetSuite gives Canningvale consistent, easy management of orders and fulfilment regardless of how demand fluctuates. Thanks to the seamless integration between the company’s eCommerce platform and NetSuite, Canningvale’s customers have visibility of orders, stock availability, and the entire fulfilment process – all in real-time. The company also uses NetSuite to send weekly alerts about the stock results of specific customers. “It’s helped us monitor those smaller B2B customers to make sure they’re hitting their KPI’s.”
Data security was one of the major factors that drew Canningvale to the NetSuite platform as the company wanted to ensure its data was safe and secure. Canningvale
has been impressed with the operational applications and security features, data redundancy, and disaster recovery provisions of NetSuite.
Going forward, Canningvale plans to continue developing its eCommerce website with a focus on mobile responsiveness and keeping its customers up to date with live information. NetSuite’s cloud ERP technology has been a key part of the company’s growth strategy and will continue supporting Canningvale’s success well into the future.
100% growth over the past year.
ROI delivered within six months of setup.
Significant ongoing cost savings being realised.
Removed need for internal IT team.
Instant visibility and real-time inventory and financial reporting across all products