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FishUSA Reels in Success with NetSuite

By David Rodman, SVP of Global Customer Success, Oracle NetSuite—Jul 13, 2022
FishUSA

It’s easy to forget that fishing started as a form of survival, but that was the origin of what has become one of the world’s most popular sports and pastimes.

Today, more than 54 million1 Americans enjoy fishing, and the techniques and equipment available to anglers are extensive. To support this growing community, FishUSA launched its business in 2000 from Fairview, Pennsylvania (less than a mile from Lake Erie) with a commitment to excellent customer service, depth of knowledge, extensive product selection, and strong industry partnerships for fishing enthusiasts.

 

Going with the Flow for the Fishing Community

FishUSA has grown from its humble beginnings and is now in its fifth location. As its business expanded, it faced operational issues that began to impact the experience it provided to its customers.

For example, executing promotions became very difficult due to the variety and complexity of different types of offers, leading to frustrated staff and customers. Managing its inventory, which includes thousands of SKUs, also became a struggle as it moved product between its virtual and physical locations. These challenges required constant updates and workarounds to its legacy systems, which began to distract FishUSA from its core business.

“We were essentially running two businesses: an ecommerce retailer selling fishing tackle and a software development firm developing a custom platform,” said Dan Pastore, founder and Chairman, FishUSA. “While that was a necessity in the early days, it is no longer sustainable. We needed an integrated cloud business system to refocus on our core mission, which is advancing the fishing communities’ experience.”

After evaluating Microsoft Dynamics and Salesforce, FishUSA selected Oracle NetSuite to replace QuickBooks and its other legacy software.

 

Gearing Up for Success

With NetSuite in place, FishUSA was able to unify its operations, including accounting, financials, inventory management, CRM, and ecommerce business system. As a result, NetSuite has provided FishUSA with the visibility and control needed to manage its expanding operations and gain a clear and real-time view into its financial health.

“Fishing retail is not a high margin industry—you’ve got to really be on you’re A-game and carefully manage the financial components of your business,” said Jeff Parnell, the company’s president and CEO. “NetSuite helps us see all the numbers at once, so we can analyze, be responsive and execute tough decisions as needed.”

Additionally, the increased efficiency NetSuite provides has helped FishUSA significantly reduce the time it takes to close the books—down from 3 weeks to 1 week. NetSuite is also enabling the FishUSA team to manage complex compliance requirement as they adhere to sales tax and other filing requirements in more than 40 states.

“We now implement a strict financial closing schedule and meet that schedule with confidence, which we were unable to do before,” added Pastore. “We also have vastly more detail and greater confidence from an audit standpoint. We can produce whatever information is requested and rest assured that it will be accurate.”

 

Angling for a Promising Future

As FishUSA continues to adapt and streamline its operations, NetSuite can provide the data and visibility needed to augment decision making as it considers different business opportunities, such as new product lines, markets and private label merchandising.

“We are constantly exploring new opportunities, and that requires timely information and accurate financial data,” said Parnell. “Now, with NetSuite in place, we rely more heavily than ever on our financial backbone and key performance metrics to guide us.”

1 The Outdoor Foundation. 2021. “Special Report on Fishing”, https://asafishing.org/wp-content/uploads/2021/07/2021-Special-Report-on-Fishing_WEB_1.pdf