NetSuite Inc., a leading provider of cloud-based financials/ERP and omni-channel commerce software suites, today announced that international food and coffee brand, Pret A Manger has selected NetSuite OneWorld for finance management.
Pret A Manger will replace its existing system with NetSuite OneWorld to manage mission-critical business processes across the UK, US, France, Hong Kong and China, including procure-to-pay, credit-to-cash, global financial consolidation, multicurrency management for five different currencies, including the Euro, US dollar, and British pound, and multi-language capabilities for English, French, Cantonese and more.
Founded in 1986, with a commitment to creating handmade, natural food, Pret A Manger now counts around 390 shops in five markets, serving over 450,000 customers a day. The company sought a financial management system that could support its needs as it grew into new markets, and expanded in current markets.
NetSuite OneWorld can provide the flexibility, agility and scalability Pret A Manger needs for continued growth and to gain a real-time view of the business performance, including control over suppliers and spend.
“As we continue to grow both in the UK and internationally, we need a system that can scale with us while ensuring that we have the currency, language and tax compliance features we need,” said Andy Chalklin, group director of IT at Pret A Manger. “NetSuite will give us what we need, without the investment in IT that an on-premise system would require.”
“European businesses growing internationally have complex needs, often serving both franchisees and customers and are increasingly turning to NetSuite OneWorld to streamline operations and manage finances,” said Zach Nelson, NetSuite CEO. “We’re excited to help Pret A Manger take the next step forward in their business plans.”
With support for 190 currencies, 19 languages and automated tax compliance in more than 100 countries, NetSuite OneWorld delivers the following key features and benefits to Pret A Manger including:
- Agility to adapt to market changes.
- Real-time global financial consolidation with NetSuite OneWorld will provide real-time visibility across all of Pret A Manger’s operations with one single unified financial system of record and consolidates financial reporting across the entire enterprise.
- Multi-currency transactions and reporting in 10 currencies including the British pound, the Euro and more.
Today, more than 24,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-ready cloud business management suites of enterprise resource planning (ERP), customer relationship management (CRM), and ecommerce applications for businesses of all sizes. Many FORTUNE 100 companies rely on NetSuite to accelerate innovation and business transformation. NetSuite continues its success in delivering the best cloud business management suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.