Published on by Rebecca Rowe
NetSuite Recognizes Sourceability® and MHI for the 2023 Winter Spotlight Award in Wholesale Distribution
Sourceability® and Myers-Holum have been recognized for the 2023 Alliance Partner Spotlight Award for Wholesale Distribution by Oracle NetSuite. This award recognizes their exceptional work in implementing and customizing NetSuite to enhance efficiency and streamline business processes.
The Alliance Partner Spotlight Awards honor customers and partners who have demonstrated a strong commitment to implementing NetSuite by developing outstanding expertise, customizations, and intellectual property in specific microverticals.
“Given that Sourceability is a technology-focused company, we were searching for a cloud-based enterprise software solution that is configurable and customizable inside a framework. We also wanted it to integrate with our ecosystem of software products, such as our marketplace e-commerce platform, SourcengineTM, and its proprietary PIM. For our needs as a supply chain company and global distributor of electronic components, NetSuite’s offering fit the bill – and Myers-Holum listened and customized the right solution for us,” said Yashar Shahabi, Senior Vice President, Digital Solutions.
Sourceability is a global distributor of electronic components that provides digital tools for supply chain professionals, including Sourcengine, the leading e-commerce marketplace, which features more than 3,500 suppliers and over one billion parts. Founded in 2015, its mission is to support the digitalization of the supply chain by offering various digital tools, services and vital data, which bring value to its global network of suppliers and customers.
Sourceability's focus on innovation and leveraging the latest technology to improve their business processes and enhance customer experience made it a likely recipient of this award. Several key criteria contributed to NetSuite’s selection of Sourceability and Myers-Holum for the spotlight award:
- Exceptional results. NetSuite evaluated the benefits that Sourceability experienced post go-live with NetSuite and Myers-Holum, as well as the growth they experienced, problems solved, and future plans. Based on these factors, Sourceability demonstrated exceptional results that set them apart from other partners in the category.
- Compelling story. The NetSuite counsel evaluated Sourceability's story, along with the stories of other customers and solutions provided by other partners in the category. After careful consideration, Sourceability had the most compelling story, showcasing their incredible brand, significant modules, and unique implementation that included customizations provided by Myers-Holum.
- Unique Solution. Sourceability's use of modules and significant customizations played a key role in the selection. Compared to other customers in the category, Sourceability stood out due to its advanced use of modules and customizations provided by Myers-Holum. This allowed Sourceability to tailor NetSuite to their specific needs.
Sourceability’s Technology Journey
When Sourceability set out to evaluate potential ERP solutions, it considered NetSuite, Chuboe iDempiere, Corning - IFS ERP, SWK Technologies - Accumatica, and Columbus Global - Infor. Sourceability's main system requirements included CRM, supply chain management, quality, distribution, bill of materials (BOM), inventory, and accounting. After a thorough evaluation process, Sourceability chose NetSuite.
Sourceability's evaluation process of potential ERP solutions led them to choose NetSuite, which offered several key benefits. Firstly, NetSuite provided significantly improved accounting capabilities that eliminated the need for external spreadsheets, an issue that Sourceability faced with its legacy ERP system, ePDS by Axiom. Secondly, NetSuite's role-based access provides tailored roles and permissions to over 300 people, ensuring better security and greater control over data accessibility and ownership. Finally, NetSuite's one unified system allows Sourceability to view all of its business data in one system, streamlining analysis, budgeting, and forecasting.
In addition to these benefits, NetSuite's SuiteScript capabilities allowed Sourceability to create customized workflows to meet its specific business needs. NetSuite also provided integration opportunities with customer-facing marketplaces that were implemented by Myers-Holum, further streamlining operations and improving customer service.
Myers-Holum implemented NetSuite, handled the data migration, provided integrations to multiple systems such as Descartes, OzLINK Shipping-Enhanced Features, Descartes ShipRush, Expensify Connect, and StrongPoint, as well as providing customizations. Building custom business process flows and automations allowed for flexibility and accommodated Sourceability's unique business requirements. This enabled high-volume transaction automation, reconciliation and retroactive adjustments, consolidated custom reporting, and custom inventory management.
Sourceability's processes are now unified on a single system, with process automations that prepare it for future growth and meet the company’s specific needs such as custom allocations, commissions, quality management, and part searches. Sourceability can now track customer and supplier inventory in real-time and provide immediate quotes, while experiencing increased efficiency, reduced manual tasks, improved accuracy, and greater control over its business processes.