Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
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X-1 (www.X-1.com), the leading provider of waterproof and sweat proof headphones, cases and accessories, is leveraging NetSuite for inventory and distribution, accounting and customer service, and is relying on NetSuite as it embarks on its rebranding and expansion. Based in San Diego, Calif., X-1, powered by H2O Audio, has accelerated inventory turns by 50 percent with NetSuite, streamlined distribution of products to distributors and retailers such as The Sports Authority and REI, and benefited from NetSuite’s integrated bill of materials functionality for manufacturers. With NetSuite, X-1 has back-office integration for its Web storefront and sales tracking by product, and has reduced its open customer service cases by 25 percent while gaining visibility into issues to improve product quality. NetSuite’s world-class accounting capabilities have helped X-1 reduce days sales outstanding (DSO) by one-third, while reducing financial close times from 12 to three days, even with fewer accounting personnel than before NetSuite was implemented. “We look forward to our continued partnership with NetSuite as X-1 grows and expands,” said Dana Swanson, X-1 Director of Marketing. “With the continued help of NetSuite, we aim to become the leader in personal audio solutions for all types of athletes everywhere.”
Business agility and efficiency in the cloud is leveling the playing field in outdoor retail, helping small and well established brands to achieve significant sales growth and compete effectively. As a sponsor of the Outdoor Retailer Summer Market, NetSuite is proud to support the growth of its customers across this industry.
Today, more than 12,000 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-class cloud ERP/financials suites for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations as demonstrated in a recent Gartner study naming NetSuite as the fastest growing top 10 financial management systems vendor in the world. NetSuite continues its success in delivering the best cloud ERP/financials suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud is accelerating.
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