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TMCNet:  Latch Unlocks Business Potential with NetSuite

[March 28, 2024]

Latch Unlocks Business Potential with NetSuite

The company reinventing real estate management taps NetSuite to improve insights, launch new services, attract talent, and grow its business

NEW YORK, March 28, 2024 /PRNewswire/ -- SuiteConnect -- Latch, Inc., a system of software, devices, and services that is used at thousands of top residential properties across the United States, is leveraging Oracle NetSuite to support its mission to make the management of buildings simple and improve the quality of life for tenants. With NetSuite, Latch is taking advantage of an integrated business suite to embrace new business models, launch new services, and attract talent as it expands and diversifies its operations.

Founded primarily as a smart lock company in 2014, Latch, which has announced plans to rebrand to, has since expanded to offer smart sensors, intercoms, and access control software to enable secure and auditable property management. In 2023, the company appointed Jamie Siminoff, the founder of Ring, as chief doorman and acquired Siminoff's latest business, Honest Day's Work (HDW). Tasked with getting Latch back to growth, Siminoff has embraced NetSuite and sees it as fundamental to the company's next phase.

"NetSuite was a critical partner as we built the largest home security company in the world. We were able to efficiently scale the business to meet high demand for video doorbells and home security devices thanks to its robust business processes," said Jamie Siminoff, chief doorman of Latch. "By using NetSuite, I can focus on parts of the business that need my attention most, knowing that our finance and operations teams have the benefit of NetSuite's best-in-class capabilities. NetSuite offers the tools we need to stay nimble and execute on our vision."

With NetSuite, Latch has been able to integrate and automate workflows, improve visibility across its operations, and embrace new business models. For example, NetSuite's flexibility helped Latch go to market with a new property management division in March 2024. In addition, the warehouse management capabilities in NetSuite have enabled Latch to move away from third-party logistics providers and stand up its own warehouse operations in under five months, resulting in reduced costs and faster fulfillment. NetSuite has also helped Latch establish new sales channels, including connecting a new Shopify-powered ecommerce sales channel quickly and easily.

"We love to see repeat customers, and we have no doubt that Jamie and his team will be able to emulate past successes and bring Latch into its next phase of growth," said Sam Levy, senior vice president of growth and operations, Oracle NetSuite. "With NetSuite, Latch has a proven solution that will enable it to embrace new business models, hire the best talent, and scale operations to meet demand."

About Oracle NetSuite
For more than 25 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 37,000 customers in 219 countries and dependent territories.

Oracle, Java, MySQL and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.

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SOURCE Oracle NetSuite

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