FoodTech company Mycorena chooses NetSuite as its business system ahead of a planned international expansion
Mycorena is one of the fastest growing companies in FoodTech, with a vision to change the entire food industry. Through pioneering biotechnology, Mycorena develops innovative mycelium solutions to offer food producers sustainable protein alternatives.
The food industry is a lucrative but changing industry driven by consumer needs. In recent years, the climate crisis has affected both consumers and industry, and the demand for new, sustainable solutions has increased significantly. One of the main environmental culprits is the meat industry, which has led to an explosion of the market for plant-based alternatives. Mycorena instead saw the potential in a kingdom other than the plant kingdom, more precisely the fungal kingdom.
By fermenting fungal mycelium, Mycorena develops protein that is not only nutritious and completely natural, but also more sustainably produced than many plant-based proteins as well as meat. The company intends to expand operations internationally in order to enable local production on a global level – their unique protein Promyc can be grown anywhere. Next year, their mycoprotein can be produced on a large scale as the doors open for the first commercial factory of Promyc. Mycorena emphasizes that we must find new ways to produce food if we are to live sustainably, and mycoprotein is one way to do that.
– As we at Mycorena plan to expand the business internationally, we searched for a modern, cloud-based, user-friendly and internationally established solution for our business. As the business operations are planned to be expanded, our demand for flexibility and adaptability will also increase in a global context. NetSuite thus became the obvious choice as a business system for us after our evaluation. For us, it is also important to have a locally established partner who really understands our processes and challenges. The fact that we chose Suitespot as a partner was largely based on the security and trust-giving impression we got from Suitespot, says Eva Hansson, Director Purchasing & Supply Chain at Mycorena.
NetSuite is modular and you choose the parts that suit your business, with the ability to gather all business operations in one platform for more automated flows. Which parts of NetSuite will you primarily work with and support?
– Broadly speaking, we will work with all our business processes in NetSuite the way our business looks today. From sales and CRM to demand planning, purchasing, production, stock, logistics, quality, traceability, facility registers and finance. The implementation has been in full operation for a few months now and we are really looking forward to rolling this out in our new factory, says Eva.
– Mycorena is a very exciting company in an industry that is relatively new. It's always a little extra fun to familiarize yourself with companies that are at the forefront of their niche. Mycorena will benefit greatly from NetSuite for many years to come and the solution can really follow them out into the world to the places they expand, says Håkan Magnusson, Sales Manager at Suitespot.
Håkan, with more than 20 years of experience with business systems and implementations, what would you say are the most important factors to consider for companies that are thinking about changing business systems?
– Of course, it depends on what conditions you have, but a general piece of advice is to ask yourself where the company will be in 3, 5 or 7 years from now and prepare for that the business can change. This may apply to new expansions to several countries, industries, changed conditions or aqcuisitions of companies. The business system should not be an obstacle to change but an enabler, says Håkan Magnusson.
Staria Oyj acquired Suitespot AB on 21 March 2023. Read more about it here.
FoodTech, mycelium-based protein