Powering Rapid Growth with NetSuite ERP
TEVEO: a scalable finance foundation for a fast-growing direct-to-consumer sportswear brand
Key Takeaways
- Centralized finance operations for TEVEO’s growing group of brands on a single NetSuite platform
- Real-time inventory visibility across TEVEO’s direct-to-consumer sportswear business
- A OneWorld structure built to absorb new brands and entities without adding complexity
- Automated reconciliation of e-commerce and payment-platform transactions via Digitastic
- EBICS bank connectivity in its final stages, closing the last manual gap in reconciliation
- A finance foundation built to support TEVEO’s next phase of growth
About TEVEO
TEVEO GmbH is a fast-growing, direct-to-consumer sportswear brand based in Ansbach, Germany, best known for its signature scrunch-leggings. What started as a two-person venture in 2019 has grown into a team of more than 100, with revenue past €50 million, profitable from day one. As TEVEO built out a wider portfolio of brands and legal entities, its finance organization needed a platform that could scale just as fast as the business itself.
The Challenge
As TEVEO grew, financial operations became harder to keep up with:
- Rapid growth outpaced finance processes built for a smaller, single-entity business
- An expanding group of legal entities created a growing consolidation burden
- E-commerce and payment-platform transactions required manual reconciliation
- No direct bank connection meant transactions were processed by hand
The Solution
Cloudmaven implemented NetSuite as TEVEO’s central finance and inventory platform:
- Core financial management, including GL, AR and AP
- OneWorld for consolidation across TEVEO’s group of entities
- Inventory Management for real-time stock visibility
- Digitastic integration to automate reconciliation of e-commerce and payment transactions
- EBICS integration, currently in its final stages, to automate bank feeds
The Results
From Manual to Streamlined. Reconciling e-commerce and payment-platform transactions no longer requires manual work, the Digitastic integration, though it took longer to stand up than hoped, now handles this automatically.
Configured to Fit. NetSuite’s setup lines up closely with how TEVEO’s business already runs, keeping disruption to a minimum.
Responsive Partnership. Every team member gave TEVEO fast, helpful responses throughout the project, keeping communication excellent from start to finish.
Nearly There on Bank Automation. EBICS integration is in its final stages, on track to remove the last manual step in TEVEO’s finance operations: bank transaction uploads.
A Strong Vote of Confidence. TEVEO rated the collaboration a 9 out of 10 and is happy to serve as a reference for Cloudmaven.
“All in all, I’m very happy with how the project went. The functionalities are all aligned with our business processes, the communication has been excellent throughout, every team member gave fast responses and was always able to help. I’m very satisfied with the team, and overall I’d rate the project a 9 out of 10.”
TEVEO Project Team
With NetSuite now powering its finance function, TEVEO has a foundation built to keep pace with its next brands and markets. Cloudmaven continues working alongside TEVEO’s team to complete the final integration, full bank-feed automation, for a fully connected finance operation.