20-Year-Old Eyewear Retailer Updates Its Accounting With NetSuite OneWorld

As the world’s largest online eyewear retailer, Zenni Optical brings prescription glasses to consumers at a low cost without compromising quality or style. The 20-year-old business does its own manufacturing, based mostly in China with a growing presence in the United States. Zenni’s strong value proposition and marketing attracts millions of new customers annually, and the company has sold 50 million pairs of glasses in every country around the world.


COMPANY

Zenni Optical

LOCATION

Novato, Calif.

INDUSTRY

Apparel, Footwear And Accessories
Manufacturing

Revenue

$400 million

EMPLOYEES

1,000 to 4,999

Number of Countries

195

Number of Subsidiaries

12

Application Replaced

QuickBooks

Other Solutions Considered

Sage Intacct
Workday HCM

NETSUITE PRODUCTS IMPLEMENTED

NetSuite OneWorld
NetSuite Advanced Customer Support


“Without NetSuite, I can’t imagine how our team could’ve functioned at 100% with 100% mobility. We increased our efficiency, even with the growth of our business.” Michelle May, Senior Accounting Manager, Zenni Optical

A Longstanding Brand Scraps Its Slow System

Steady revenue growth
With typical revenue growth of 20% per year, Zenni’s annual revenue is now roughly $400 million. With over 1,200 employees, the business is revving up manufacturing operations in Ohio to complement its China factory. This will make it even easier to continue offering glasses-wearers some 3,000 styles, some for as little as $7 each, cutting out retail and optometrist markups.
Slowed by QuickBooks
For years, Zenni ran on an on-premises version of QuickBooks, but the file grew so large that the system lagged whenever multiple team members logged in, making it frustratingly slow to get anything done. The accounting team had to manually input all journal entries and ran fixed-asset accounting in spreadsheets, wasting more time. They also exported and manually manipulated data in spreadsheets to create financial reports.
Automated accounting saves time
Zenni quickly implemented NetSuite OneWorld with NetSuite’s Customer Success team. The system produces real-time, consolidated financial reports for Zenni’s many subsidiaries and automatically converts currencies, while allowing the accounting team to work remotely with one-on-one support from NetSuite’s Advanced Customer Support (ACS). NetSuite OneWorld’s fixed-assets capabilities eliminate the need to manage that data in spreadsheets, and the team imports bank, credit card and sales transactions with CSV templates, eliminating the need to create some types of journal entries by hand.
Looking forward
With their saved time, Zenni’s accounting team is documenting processes, shortening the close and learning about how each other use the NetSuite system—while constantly working with ACS to uncover new efficiencies. Meanwhile, leadership is running its new B2B division on NetSuite as well. They’re implementing NetSuite Warehouse Management for the Ohio facility as Zenni builds the capability to produce made-to-order glasses in 48 hours, an industry innovation.
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