NetSuite helps e-commerce platform Vinted optimize and automate financial processes, manage international operations and deliver growth
Vinted, which owns Trendsales in Denmark, Europe’s leading online marketplace dedicated to used fashion, uses Oracle NetSuite to support its mission to make recycling the first choice.
With NetSuite Vinted has been able to take advantage of an integrated business system to consolidate financial processes, improve operational consistency across multiple units and improve data visibility across all departments.
Vinted was founded in Lithuania in 2008 with the simple idea of helping people find a new home for unwanted clothes. Since its inception, Vinted has grown to have millions of members in over 20 markets. During this expansion, it became increasingly important for Vinted to streamline its financial management as they relied on eight unrelated accounting programs, which made it challenging to achieve a coherent and integrated view of their financial data. To address this challenge and establish a scalable platform to support growth, Vinted chose NetSuite as its Enterprise Resource Planning (ERP) system.
“Vinted is committed to innovation and finding ways to make recycling the first choice and empower its members to buy and sell used items,” says Ieva Karklytė, team leader for financial systems, Vinted. “With NetSuite, we can access data at a detailed level, better understand our data flow and have a reliable tool that can handle Vinted’s expansion.”
With NetSuite, Vinted has a scalable financial system to consolidate and automate its global financial operations.
“The market for recycled clothing is booming, and Vinted is leading the way by giving new life to fashion clothing,” says Nicky Tozer, senior vice president, Europe, Middle East and Africa (EMEA), Oracle NetSuite. “With NetSuite, Vinted has been able to increase visibility across its global activities and establish a scalable foundation for growth.”
Om Oracle NetSuite
For more than 25 years, Oracle NetSuite has helped organizations grow, scale and adapt to change. NetSuite provides an integrated system that includes finance / Enterprise Resource Planning (ERP), inventory management, HR, professional services automation and omnichannel commerce, used by more than 38,000 customers in 219 countries and dependent territories.
