Manufacturer Inventronics Sheds Light on Financials and Inventory With NetSuite OneWorld

Founded in 2007, Inventronics is one of the world’s top manufacturers of LED drivers (the power supplies that LEDs need to function properly). The company designs its innovative and reliable products—which include surge protection for the drivers—at its headquarters in Hangzhou, China. With over 1,000 employees and an in-house R&D team, Inventronics holds more than 282 patents.


Inventronics

COMPANY

Inventronics (Hangzhou), Inc

LOCATION

Hangzhou, Zhejiang, China

INDUSTRY

Manufacturing

EMPLOYEES

1,000+

NUMBER OF SUBSIDIARIES

10

NUMBER OF COUNTRIES

100+

SYSTEM REPLACED

QuickBooks

NETSUITE PRODUCT IMPLEMENTED

NetSuite OneWorld

IMPLEMENTATION PARTNER

Hitpoint Cloud

LOCATION

Hangzhou, China


“Technology is in our DNA, and it plays a vital role in the growth and development of the whole company.” Peixian Jia, Deputy General Manager and Secretary, Inventronics

Illuminating Financials and Inventory in Different Countries

International customers come to light
Inventronics’ success has resulted in the business expanding globally, and it now has subsidiaries in Europe, the United States, India, Mexico, and offices in Southeast Asia, South Korea, Brazil and Shenzhen. The company went public in 2016, and its LED drivers are now available in more than 100 countries.
Kept in the dark
Inventronics ran on Digiwin ERP in China, but as it expanded internationally, it set up each new entity on local business management systems and accounting software. This left the company without a real-time view of its financial position—and each country with its own general ledger. To prepare the P&L and month-end reports, the finance team had to manually export each ledger and crunch the numbers.
Business system lights the way
Since implementing NetSuite OneWorld, Inventronics consolidates its financials at a global level, and its inventory management is now integrated with its Warehouse Management System (WMS). This has resulted in more efficient business processes, including accurately matching its financial data and real-time visibility of its inventory count.
The future is bright
In the year that followed deployment of Oracle NetSuite, Inventronics' financial and inventory management efficiency improved significantly. With total confidence in the scalability of its business management system and processes, the team plans to further expand its overseas operation to support its continued growth.
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