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ERP for Retail Businesses: FXR Racing Success Story
The right ERP solution can be an engine for fast growth. How does an ERP like Oracle NetSuite help gear retail businesses for long-term sustainability? The retail marketplace is changing, and so are retail companies. Learn how GURUS Solutions worked alongside action sports apparel designers and retailers, FXR Racing, to implement NetSuite OneWorld as an ERP for retail businesses.
Established in Winnipeg over two decades ago, FXR Racing is now one of the world’s leading designers and manufacturers in apparel and accessories for action sports. With their winning team and expertise, FXR Racing develop some of the most successful clothing and accessories for motocross, snowmobile, and global motorsports. They offer everything from jackets, pants, and helmets to goggles, jerseys, headwear, gloves and more.
Why FXR Racing Came to GURUS
The team at FXR Racing approached GURUS after a long and unsuccessful battle with self-implementation. After expanding the retail operations that they own outside of Canada, FXR Racing was looking to go from NetSuite’s base product to NetSuite OneWorld edition.
NetSuite OneWorld is a NetSuite edition that allows companies to seamlessly handle multiple currencies, taxation rules and reporting requirements across geographies and subsidiaries, and provides real-time global business management and financial consolidation in a unified, Cloud-based system.
Essentially, integrating OneWorld would allow FXR Racing to:
- Become more efficient in completing their day-to-day activities.
- Handle financial and accounting consolidations and different subsidiaries.
- Independently manage their store locations, and consolidate at year-end.
- Produce financial reports in an optimal and streamlined fashion.
- Operate in several countries with similar business processes.
Unfortunately, before turning to GURUS, FXR Racing met some complications.
In an interview with GURUS, Gary Banner, Controller of FXR Racing, discusses his team’s journey, obstacles they met along the way and how they're evolving with NetSuite and GURUS.
During his interview, Banner explains, “We had tried to do the upload to OneWord twice, previously, without any assistance and we discovered very quickly that we needed a partner to guide us down that road.”
Banner then explains how he and his team came to GURUS, “So we were looking for someone who had experience with OneWorld, who had experience with NetSuite, and we looked up who was around and found GURUS, who is Canadian, and we’re Canadian also so that helped out a bit.”
After the team shared their Canadian pride and a common goal to help FXR Racing reach the next level in their business, it was time to start working.
ERP for Retail Businesses
There’s a solution for every business - it just takes teamwork and expertise. Bringing the GURUS and FXR Racing teams together was the ultimate recipe for success.
A NetSuite ERP solution for retail businesses, paired with OneWorld was the ultimate solution. The successful OneWorld integration, which was completed within a tight timeline, equipped FXR Racing with a scalable solution that could incorporate more entities over time, as well as manage intercompany transactions and subsidiaries.
This allowed FXR Racing to access automatic intercompany management for their present subsidiaries, as well as any future additions. This automated process meant that the team at FXR could spend less time managing their financials, and more time running their business.
Banner comments on the amazing functionality of OneWorld, saying:
“Switching over to OneWorlde was a game changer. It allowed us to break out our GLs for our subsidiaries into different components. Reporting on them separately is push-button now. Reporting & consolidation all comes together automatically - it’s fantastic!”
How Did We Do?
Overall, Banner comments on the project’s success saying, “It worked out extremely well!”
ERP projects are a team effort - both on the part of the implementation partner and the client. That’s why it’s important to have a strong ERP implementation team. Using GURUS’ Sherpa Approach, both teams worked together to find a workload balance that worked for everyone involved.
The Sherpa Approach is the ultimate collaborative method to help support growing companies throughout their NetSuite implementation journey. This approach allows the GURUS team to ensure that your implementation project is a smashing success. No matter how involved you want to be with the implementation, we can meet you at the level that you require. So, you get the control of a self-implementation, with the expertise of an implementation partner.
Banner boasts about team collaboration, explaining:
“Working with the GURUS team was very easy because they all know exactly what’s going on, they lay out the expectations of my team very clearly. They let us know what they’re going to be doing very clearly, and there was never any question as to whose responsibility something was or a timeline. It was all put upfront and we managed very well.”
He goes on to speak on the success of such a collaborating approach, adding:
“I would absolutely recommend GURUS so anybody and I have, the reason being is that their team is extremely professional. If they need to pull in somebody who has a different knowledge base from someone I’m talking to, they pull them in, they get the answers, and they do the heavy lifting for us so I can go home and sleep and the GURUS guys are working overnight and taking care of all of it for me - so it’s worked out fantastic.”
When working with a client, the client’s goals and success is GURUS’ number one priority. Their goals become our goals, and their success very much becomes our own as well. With FXR Racing, streamlining their financials was their number one goal, as Banner explains:
“GURUS allowed us to figure out how to do the transactions so that they’d work as simply as possible. So they came up with any of the ideas, as far as transaction flow. They made it very clear about what we had to do so that it would work and be successful in the future.”
Equipped with an ERP for retail businesses, tailored for their goals and ambitions, FXR Racing goes on to rule the motorsport apparel industry.
Another show of team collaboration for the books!
Watch the full video testimonial featuring Gary Banner, Controller of FXR Racing.
Do you want to work with GURUS?
GURUS Solutions is the #1 largest NetSuite ERP solutions provider across North America. As a NetSuite Partner, we specialize in everything from implementation, integration and training to rescues, support and custom solutions. Our team is recognized by Oracle NetSuite as an 8-year consecutive 5-star award-winning partner.
Want to learn more?
Find out more about FXR Racing’s products through their website: https://www.fxrracing.com/
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