100% is a San Diego-based premium outdoor performance brand, specializing in eyewear and technical apparel, since 2012. With 57 employees and a growing e-commerce presence, they were ready to move away from their previous limited platforms and automate their financial reporting.
Eye on the Problems
Before adopting Datarails, the 100% finance team, led by Steven Carkey, VP of Finance & Operations, grappled with the limitations of their existing ERP, NetSuite.
NetSuite lacked flexible reporting and forecasting. This meant they were reliant on manual and time-consuming Excel processes.
Their ERP struggled to provide scalable solutions and:
- Limited basic financial analysis tools, such as viewing multi-period balance sheets
- Time-consuming manual processes for forecasting and budgeting
- Complex domain planning that required several days of manual work in Excel
- Limited board reporting tools
The Finance & Operations teams needed a user-friendly, self-sufficient, and flexible solution.
Getting Clear Vision with Datarails
Steven describes himself as an “Excel guy.” Datarails appealed to him as the perfect tool that offered an Excel-native approach with the most flexibility of any FP&A solution on the market. Datarails’ flexibility is inbuilt with users uniquely able to map and manage data dynamically, making modifications when needed (on their own).
I can use and implement Datarails at my will. I’ve been able to sustain implementation entirely and support all the different functions within the system.”
– Steven Carkey
VP Finance Operations, 100%
Feature Favorite: The Excel Add-In
One of Steven’s favorite features is the Excel add-in, allowing him to refresh data with a single click. “I’ve built reports that combine data from multiple sources, and with one button, I’ve got the whole system updated,” he says.
Datarails not only met the initial needs for budgeting and forecasting but also adapted to become 100%’s core tool for operations planning and board preparation.
Benefits and Key Results Post-Implementation
The difference since using Datarails includes enhanced reporting capabilities, transformed data domain planning, and effective partnerships with other departments.
Enhanced Reporting Capabilities
- Increased from 3-5 basic statements to 25+ detailed reports
- Board reporting with drill-down capabilities with data visualization for storytelling
- Faster error identification and resolution
Transformed Data Domain Planning
- Automated refresh capabilities with a single click
- Better forecasting of consumer behavior for more strategic decision-making
- Enhanced inventory planning capabilities
“We can now forecast consumer behavior much more accurately.
– Steven Carkey
VP Finance Operations, 100%
Improved Team Efficiency
- 10-20% increase in overall working efficiency
- 2-3x more effective reporting functions
- Less time spent on data integrity checks ensures more strategic analysis
“Without Datarails I would’ve needed to double the current team size of 3 to produce what we currently are.”
– Steven Carkey
VP Finance Operations, 100%
Impact on other departments
Such was the power of Datarails that the finance team expanded the user base from the initial finance team to 30-35 users across sales, purchasing, and executive teams.
“Everyone can now more easily track their numbers and results.”