World of Beer Bar & Kitchen to Lift Customer Spirits One Glass at a Time with NetSuite

World of Beer Bar & Kitchen has chosen Oracle NetSuite to streamline its financial operations amid rapid growth.

Rhea-AI Summary

World of Beer Bar & Kitchen has chosen Oracle NetSuite to streamline its financial operations amid rapid growth. The integration will enable better management of accounting processes, enhancing efficiency by automating tasks like accounts payable and receivable. Founded in 2007 and now operating over 50 locations in the US and China, World of Beer faced significant challenges, including complex bank reconciliations and accessing financial systems across franchises. The new system promises improved visibility, timely financial closing, and an overall healthier cash flow to support the company's expansion efforts.

Positive

• Selection of Oracle NetSuite enhances operational efficiency.
• Automation of accounting processes will save time and reduce errors.
• Improved financial visibility for better decision-making.

Negative

• None.

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NetSuite to help tavern chain consolidate and automate financial operations for greater business efficiency

AUSTIN, Texas, Feb. 8, 2023 /PRNewswire/ -- World of Beer Bar & Kitchen, a purveyor of the craft beer experience, has selected Oracle NetSuite to help it scale to meet soaring customer demand for its hundreds of unique beers and rotating taps. With NetSuite, World of Beer Bar & Kitchen will be able to take advantage of an integrated business system to manage its financial operations and help quickly and easily adapt as it grows its global presence.

As one of craft beer's original bottle shops, World of Beer Bar & Kitchen was founded in 2007 by two best friends in Tampa, Florida. It has since grown to be a gathering place for beer explorers and food lovers alike and now operates 50 locations across the United States and China. As World of Beer Bar & Kitchen expanded its business, its accounting and operations processes became complex to manage. For instance, bank reconciliation created a bottleneck in accounting processes, resulting in lost efficiency and additional fees. In addition, there were issues logging into financial systems across corporate and franchise locations, resulting in errors and lost team productivity. After evaluating several systems including Microsoft Dynamics, World of Beer Bar & Kitchen replaced its existing software with Oracle NetSuite to help improve visibility into its business and accelerate decision-making.

"Given our strong growth, we could not afford to have members of our team focused on entering data, connecting with banks, monitoring transactions from various systems, and manually processing payments," said Marc Viglio, vice president of finance, World of Beer Bar & Kitchen. "The inefficiencies in our financial systems distracted us from our core mission of creating a premier place where people share and appreciate beer. With NetSuite, we now have a single business system that will give us new insights and help us maintain healthy cash flow as we expand."

With NetSuite, World of Beer Bar & Kitchen will be able to unify and manage its operations on a single cloud business system. By automating key finance functions, NetSuite will help World of Beer Bar & Kitchen to create more efficient accounting processes, including accounts payable, accounts receivable, lease amortization, and inventory management. In addition, NetSuite will help World of Beer Bar & Kitchen streamline operations, reducing the time spent managing financials across corporate and franchisees, and alleviate banking discrepancies across its locations. As World of Beer Bar & Kitchen continues to expand its operations, NetSuite will also help ensure the accuracy and timeliness of month- and year-end close as well as audit costs. With the flexibility and scalability NetSuite provides, World of Beer Bar & Kitchen is well-positioned to execute on its plans while continuing to drive efficiencies across its business.

"A core part of every growth story is staying focused on the things that drive your business forward," said Sam Levy, SVP of Sales, Oracle NetSuite. "With NetSuite, World of Beer Bar & Kitchen has a single business system to automate key operations as it scales and increase efficiencies across its financial processes. As a result, World of Beer Bar & Kitchen will be able to drive operational excellence and maintain its commitment to providing a premier location for people to share and appreciate beer."

About Oracle NetSuite

For more than 20 years, Oracle NetSuite has helped organizations grow, scale and adapt to change. NetSuite provides an integrated system that includes financials / Enterprise Resource Planning (ERP), inventory management, HR, professional services automation and omnichannel commerce, used by more than 33,000 customers in 217 countries and dependent territories.

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About WOB Bar & Kitchen

WOB Bar & Kitchen was founded in 2007 by two best friends in Tampa, Fla. who wanted to create a welcoming place where friends could gather, drink, eat and explore. WOB, the original craft beer bar, boasts hundreds of beers and rotating taps at each location along with signature food menus specifically designed to enhance the flavor of beers. WOB has grown to a global franchise with 50+ locations in the United States and China. For more information, visit www.worldofbeer.com. 

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SOURCE Oracle NetSuite

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the significance of Oracle NetSuite for World of Beer Bar & Kitchen?

Oracle NetSuite will streamline financial operations and automate accounting processes, improving efficiency as World of Beer expands.

When did World of Beer Bar & Kitchen announce its partnership with Oracle NetSuite?

The partnership was announced on February 8, 2023.

How many locations does World of Beer Bar & Kitchen operate?

World of Beer Bar & Kitchen operates over 50 locations in the United States and China.

What challenges was World of Beer Bar & Kitchen facing before adopting NetSuite?

They faced complex bank reconciliations and difficulties accessing financial systems across corporate and franchise locations.

How will Oracle NetSuite impact World of Beer Bar & Kitchen's financial processes?

NetSuite will automate key finance functions, reduce manual errors, and enhance overall financial visibility and decision-making.