From Bricks to Clicks—One Company’s Journey from “The Best NYC Paper Store” to International eCommerce Player
New York is great, but for now-CEO of JAM Paper and Envelope Andrew Jacobs, it was only the beginning. Brought on as the Director of Ecommerce at JAM in 2005, he guided the company from a bricks-and-mortar chain known as “The Best NYC Paper Store” to an Internet Retailer Top 1000 ecommerce player and key player on online marketplaces. But as with any transformation as fast and significant as JAM’s, there were bound to be a few growing pains along the way.
Like any company’s move into a third-party marketplace like Amazon, Staples, or Wal-Mart, skyrocketing order numbers can put immense pressure on people, processes, and systems. From order fulfilment to financial management and accounting, this was something that JAM’s previous MAS 90 system couldn’t handle.
Andrew Jacobs, CEO, and Kyle Lerner, CFO, of JAM Paper discuss how NetSuite and MIBAR’s Online Marketplace Fee Accounting and Payment Reconciliation helped JAM to:
- Minimize the workload on accounts receivable, now needing only one person to process payments from over 30,000 monthly invoices
- Reduce the time spent processing payments and completing reconciliations from months to hours.
- Eliminate errors and increase profitability by enabling staff to process and facilitate clawbacks for unauthorized deductions.
We invite both those aspiring to enter online marketplaces and those facing JAM’s Pre-NetSuite and MIBAR bind to watch now below.
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