Case Study: NetSuite SuiteSuccess Financials First Standard ERP Implementation for Mosites Motorsports

Customer Success Story

Folio3 implemented NetSuite SuiteSuccess Financials First Standard for Mosites Motorsports to manage their eCommerce, retail, and service operations across multiple sales channels.

Company

Mosites Motorsports

Company Size

50-100

Industry

Automotive

Region

NetSuite Services

NetSuite SuiteSuccess Financials First Standard NetSuite Customization

All NetSuite Solutions and Modules

Application replaced

QuickBooks

About Mosites Motorsports

Provides high-quality vehicles, parts, accessories, and apparel in the motorsports marketplace.
Offers brand-name products at competitive prices with factory-trained service technicians.
Multi-channel retailer selling through Amazon, eBay, BigCommerce, and Channel Advisor.
Employs fellow motorsports enthusiasts who share the passion for all things motorsports.

Mosites Motorsports & NetSuite

With NetSuite implementation, Mosites Motorsports:

Unified operations across QuickBooks replacement with ACH/Electronic Bank Payments automation.
Enabled real-time inventory tracking with bin management and landed cost tracking.
Connected eCommerce platforms through third-party integrations for Amazon, eBay, BigCommerce, and Ship Station.

Summary

Mosites Motorsports achieved operational transformation across financials, inventory, and multi-channel eCommerce through NetSuite SuiteSuccess Financials First Standard implementation.

Aimed to replace QuickBooks with unified ERP while integrating Skuvault (WMS), Shipstation (Shipping), Channel Advisor, Amazon, eBay, and BigCommerce (planned for future phases).

With this implementation, they gained centralized financial management with ACH/electronic bank payments, multi-currency support, bin management for inventory, and landed cost tracking.

Mosites Motorsports also wanted to implement cash sales customization for estimated cost updates and item-level profitability reporting with actual shipping and ecommerce fee costs.

The Challenges

Mosites Motorsports faced multiple operational challenges before NetSuite:

Unable to consolidate financials from QuickBooks with multiple eCommerce platforms.
Could not track inventory with bin management across warehouse locations.
Lacked automated bank payment processing for vendor bill payments.
Had no way to calculate item-level profitability with actual shipping and ecommerce fees.
Could not track landed costs on incoming shipments as part of item cost.
Struggled to manage multi-currency transactions for international operations.
Had no system to update estimated costs on sales orders based on actual fulfillment.
Missing integration between financial system and warehouse management (Skuvault).
Unable to automate ecommerce fee allocation across Amazon and eBay sales.

Solution

Mosites Motorsports partnered with Folio3 to implement NetSuite SuiteSuccess Financials First Standard for their multi-channel retail operations.

Our implementation purpose was to address the specific challenges faced by motorsports retailers with eCommerce operations and complex profitability tracking. Our solution focused on:

Single US Subsidiary with multi-currency configuration and US tax setup.
Core Financials with GL, AR, AP, procurement, inventory, CRM, and support management.
ACH / Electronic Bank Payments Automation for vendor bill payments.
Cash Sales Customization script to update estimated cost on Sales Order based on fulfillment.
Item Level Profitability Report customization with actual shipping cost allocation.
Item Level Profitability Report with actual ecommerce fee cost allocation (Amazon/eBay).
Bin Management for warehouse inventory tracking across locations.
Landed Cost feature for tracking charges on incoming shipments.
Average Cost inventory costing methodology for accurate item valuation.

Results

With NetSuite SuiteSuccess Financials First Standard Implementation, Folio3 helped Mosites Motorsports achieve the following:

Unified platform now replaces QuickBooks with single source of financial truth.
ACH and electronic bank payments now automate vendor bill payment processing.
Cash sales customization now updates estimated cost on sales orders based on actual fulfillment.
Item-level profitability reports now include actual shipping costs allocated by value.
Item-level profitability reports now include actual ecommerce fees from Amazon and eBay.
Bin management now tracks inventory across warehouse locations with precise location control.
Landed costs now capture on incoming shipments and flow to item costs automatically.
Multi-currency operations now process international transactions with proper exchange rates.
Average cost methodology now provides accurate item valuation across 50,000 items.