Colombian B2B Ecommerce Startup Uses NetSuite to Expand in Latin America

Hardware stores represent approximately 70% of sales materials in Latin America’s construction sector, but they have few technology solutions to help them sell more and better. So, a trio of Colombian entrepreneurs created Tul, a B2B platform where customers can easily order products from major construction manufacturers they need to supply their business. Hardware-store buyers can purchase inventory like cement or hammers on Tul’s mobile app, then have it shipped to their shops or straight to a customer.


Tul

Company

Tul

Location

Bogotá, Colombia

Industry

Wholesale Distribution

Employees

500 to 999

Number of Countries

3

Number of Subsidiaries

11

OTHER SOLUTION CONSIDERED

SAP

NETSUITE PRODUCTS IMPLEMENTED

NetSuite OneWorld
NetSuite Financial Management
NetSuite Inventory Management
NetSuite SuiteAnalytics

IMPLEMENTATION PARTNER

Keep It Simple

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“Thanks to NetSuite, we have the peace of mind to carry out our regional expansion plan securely and consistently.” Nicolás Villegas, CTO and Co-Founder, Tul

A Startup Builds Processes for Scale

Bringing hardware stores into the tech world
Two years after its launch, Tul has more than 1000 employees, warehouses in three countries and a defined international growth path. The company has raised more than $180 million USD in venture capital. In addition to the mobile app, customers can access a series of vertical solutions focused on improving their profitability, such as expansion of payment methods, granting of credit to their customers, sale of insurance, among others.
Thinking outside the toolbox
Tul initially outsourced accounting and worked on an ecommerce platform integrated with a very basic inventory management system. Three months in, the founders decided to implement NetSuite based on previous positive experiences with the solution. They aimed to avoid future issues by integrating core processes—accounting, logistics, inventory and invoicing—and prepare the business for regional expansion.
Consistent data for all
Tul’s managers can now track inventory, purchasing and billing processes 24/7 in NetSuite OneWorld, with on-demand access to reliable reporting. Now operating in Colombia, Brazil and Mexico, Tul uses NetSuite to adjust for currency differences and comply with regional tax regulations and reporting requirements. Thanks to a stellar level of inventory insight and resulting customer service, Tul has a customer retention rate of over 65%, which is impressively high for its industry.
Growing beyond borders
After launching in Brazil, Tul plans to further expand, using NetSuite to keep processes consistent globally. Meanwhile, its business in Mexico has amassed 6,400 customers in less than two years, proving Tul’s status to investors. The company expects to grow that number to 20,000 and begin offering services such as home improvement loans—all with the help of NetSuite.

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