Run by the dynamic Salo brothers and respected for its next-level product innovation and education, Young Nails Inc., is a professional nail care manufacturing company exporting to more than 40 countries worldwide and distributing domestically to 3,000+ stores. But, CEO Habib Salo clarifies, “[W]hat we really do is teach nail professionals or anyone who’s passionate about nails, how to be successful with nails.”
How ORBA CFO Cloud Services helped Young Nails, Inc. increase its sales revenue by 29% in one year using NetSuite
“One of the biggest struggles, especially in the finance department, is finding someone who is not only competent, but also who you can trust.” – Habib Salo, CEO of Young Nails, Inc.
Financial Reporting Without a consistent finance team, Young Nails was behind in financial reporting, and therefore, without tangible insights into the profitability of their sales channels.
“Because of our growth, finding someone with the right expertise was a challenge.” – Habib Salo, CEO of Young Nails, Inc.
A shift in model meant a greater need for inventory discernment and an entirely new e-commerce solution. Young Nails had no real-time inventory data and was scrambling to get product in time to sell it; or worse, running out of stock resulting in lost sales. Stemming from the same issue, they were also unaware of how much of their lost profits were due to reshipping damaged or missing product.
“Knowing that our [finances] are getting done better than ever is a big deal.” – Habib Salo, CEO of Young Nails, Inc.
Financial Reporting With regular access to ORBA’s Cloud CFO team, Young Nails has real-time insight into its financial reporting and sales channel profitability. Sales revenue experienced a 29% increase comparing 2018 to 2019 YTD. Salo elaborates, “[W]e now know that this is where we’re headed.”
“Now, data is accessible. Being able to group information quickly and efficiently is extremely important, and we see it happening regularly.” – Habib Salo, CEO of Young Nails, Inc.
Inventory Management Young Nails’ shift in model shaped a need for an entirely new omnichannel ecommerce solution, in this case BigCommerce, integrated with Celigo for NetSuite. By implementing RF-SMART for NetSuite, Young Nails gained cloud access to a barcoding scanner solution and accurate inventory data. Combined with the EDI solution, SPS Commerce, Young Nails can now operate knowing that they can service customers while adhering to EDI best practices, providing an opportunity to focus on business growth.
When Salo explained to a third party who had implemented the NetSuite system, “[T]hey were shocked. It’s not supposed to go this smoothly; they said it’s probably one of the best go-lives they’d seen.”