LAS VEGAS, Oct. 19, 2021 /PRNewswire/ -- SUITEWORLD 2021 -- Lovepop, the company that combines art and engineering to create magical 3D cards and gifts, has selected Oracle NetSuite to help scale its business and achieve its mission of creating one billion magical moments across the globe. With NetSuite, Lovepop will be able to take advantage of an integrated business platform to improve the speed and accuracy of its finance and operations as it expands its product lines, enters new international markets, and scales to meet increasing customer demand.
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Lovepop's naval architect founders merged kirigami—the ancient art of paper cutting—with the sliceform structure used in ship design to create their own technique called Slicegami™. They showcased their beautiful pop-up cards on ABC's Shark Tank in 2015, which resulted in an initial investment from Kevin O'Leary. Since then, Lovepop's business has grown to service customers around the world on Lovepop.com, Amazon, and at retail and partner locations nationwide. It has also expanded its product portfolio beyond cards to include 3D flower bouquets, giant pop-up gifts, children's toys, and more.
To support its growth, international expansion, and omnichannel and product diversification strategies, Lovepop needed to replace its existing business systems. After careful evaluation, Lovepop selected NetSuite for its ability to centralize and automate finance and operations processes in the cloud and provide insights into all sales channels and product lines.
"Despite the additional challenges created by the pandemic, we closed out 2020 with 44 percent year-over-year growth and more than 500 times the revenue we earned in our founding year," said Dan Nephew, director of systems and operations, Lovepop. "With customer demand increasing, we knew we couldn't rely on manual processes and disconnected systems. With NetSuite, we'll be able to automate and centralize our finances and operations so we can continue moving with speed and accuracy as we grow."
With NetSuite, the Lovepop finance and accounting team will be able to provide internal business partners with greater insight and a real-time view of its growing business as it expands its product portfolio and enters new markets. NetSuite will also help Lovepop gain deeper insights into sales and customer trends, reduce efforts to maintain accurate inventory levels, achieve a faster month-end close, and improve overall reporting.
"Like many other high-growth companies, Lovepop had outgrown the systems and processes that had worked in the early days, but were not able to scale," said Aaron Mittler, GVP, Oracle NetSuite. "To reach the next phase of growth, Lovepop needed to centralize its business systems and eliminate manual processes. With NetSuite, Lovepop will be able to streamline and integrate critical operations so it can scale its business to support growing customer demand in the U.S. and internationally, and stay focused on its mission to create one billion magical moments."
About Oracle NetSuiteFor more than 20 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 27,000 customers in 215 countries and dependent territories.
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SOURCE Oracle NetSuite