Terlato Wine Group (Terlato), a multi-generational family business, is a leading wine and spirits importer and producer that has transitioned to the power of NetSuite to accelerate financial processes, improve business visibility, increase productivity and drive growth.
Its use of Oracle NetSuite is helping it market and distribute fine wines and artisanal spirits from world-class producers to customers across the US.
Founded as a single Chicago retail store in 1938, Terlato has significantly expanded its operations through organic growth and acquisitions. Today, Terlato imports and distributes more than 85 brands of wine and spirits from more than a dozen countries and operates three wineries in the US.
As it expanded its operations to serve restaurants, event venues, supermarkets, liquor stores and consumers through online sales channels, Terlato's existing business systems struggled to keep up. It required manual updates and integrations in Excel sheets that created more work, added extra costs and limited real-time insight into business performance.
After careful evaluation, Terlato selected NetSuite to address these challenges and establish a new enterprise resource planning (ERP) system.
Kevin O'Toole, Terlato Wine Group's Chief Technology Officer, says in the past, its leadership team needed to wait for Excel spreadsheets from each winery and then manually combine them with corporate data to get a full picture of our financials. "As our product portfolio expanded, we knew manual processes like this were unsustainable."
O'Toole also says that with NetSuite, it has increased productivity and operational visibility by integrating its business processes and automating thousands of records. "By providing a complete business suite that is always up to date, NetSuite has been a game changer and now provides the strategic insights and new features we need to stay nimble as we grow."
With NetSuite, Terlato has been able to integrate and automate workflows to save time, reduce errors and improve visibility across its operations. This means more than 85% of Terlato's sales now are automatically recorded in NetSuite, enabling Terlato to save significant time.
With NetSuite, Terlato has taken advantage of an integrated business suite to increase the speed and accuracy of its financial processes, improve business visibility and enhance decision-making. For example, NetSuite Planning and Budgeting has helped Terlato streamline financial and demand planning across its 30 subsidiaries.
Chris Janes, head of integrated enterprise systems, Terlato Wine Group, says that prior to using NetSuite Analytics Warehouse, Terlato was overly reliant on spreadsheets and manually adjusting data. "Now, NetSuite Analytics Warehouse is consolidating all of Terlato's data and leveraging the power of Artificial Intelligence to provide clearer insights into sales trends that help ensure resources are allocated to their key growth areas."
As a prime example of a customer seeing "Suite Success" by making the most of NetSuite, Evan Goldberg, founder and EVP of Oracle NetSuite, says that with NetSuite, Terlato has been able to bring all areas of its business together on one suite so that it can get a unified view of its business and access real-time insights.
This is helping Terlato increase efficiencies, make faster and more informed business decisions, and continually adapt its operations to meet changing customer tastes and beverage preferences."
Just so you know, even though I'm back home from "SuiteWorld," my coverage of the news, enhancements and future features on the way from Oracle NetSuite has not ended. Look for more features, including customer success stories like Terlato Wine Group, soon.
Footnotes and Disclosures:
Content within this feature (including the headline graphic) has been adapted from source materials furnished by Oracle NetSuite and source content derived while attending SuiteWorld 2023. Referenced source materials or content appearing within this Insightful Accountant feature were adapted and are furnished solely for educational purposes.
SuiteWorld, NetSuite and Oracle are registered trademarks of Oracle Corporation. Oracle Corporation is a publicly-traded NYSE-listed (ORCL) multinational corporation headquartered in Austin, Texas (USA).
NetSuite was the first cloud accounting company—ushering in the new era of cloud computing. For more than 25 years, Oracle NetSuite has helped organizations grow, scale, and adapt to change. NetSuite provides an integrated system that includes financials / Enterprise Resource Planning (ERP), inventory management, HR, professional services automation and omnichannel commerce, used by more than 37,000 customers in 219 countries and dependent territories.
Terlato is a registered trade name of Terlato Wine Group, Ltd., a privately held wine and spirits company based in Lake Bluff, Illinois, USA.
Any other trade names used within this article, including any other vendor (app/software) discussed herein, may refer to products registered, trademarked, or otherwise held by their respective owners. They are referenced solely for informational and educational purposes.
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