A pioneer in the field of Software as a Service (SaaS), NetSuite offers cloud-based business management software that enables companies to collaborate with customers, partners, and vendors while eliminating on-premise hardware and software.
NetSuite, originally called NetLedger, offers online hosted customer relationship management (CRM) and enterprise resource planning (ERP) software that helps companies run their businesses. The software, which handles sales, customer communications, inventory management, e-commerce, and website management, is delivered using the Internet and can be put into operation all at once or modular form.
Among its products is NetSuite Financials, which improves business performance with real-time metrics and role-based dashboards. The software makes financial planning and accounting processes more efficient through the use of amortization schedules and integrates with all CRM and eCommerce functions.
NetSuite CRM+ is an internationally available, on-demand solution that enables offices or subsidiaries to order, forecast, and sell in their local currency. The software also provides country-specific dashboards for business intelligence around the world.
NetSuite E-commerce enables a business to manage one or more web stores and conduct business across different countries, languages, currencies, and channels. It also merges online and traditional channels into a single system that handles a company’s business in real time.
NetSuite OneWorld, the company’s on-demand system that delivers real-time global business management and financial consolidation to companies with multinational and multi-subsidiary operations, provides the tools needed to streamline operations.
While the company has traditionally focused on small and midsize businesses, NetSuite has begun to find success by taking on rivals Microsoft and SAP in the larger enterprise space.
NetSuite recently announced plans to make its cloud computing ERP software available on the Google Apps Marketplace, allowing users to use applications such as Gmail, Google Talk, Google Calendar or Google Docs that are hosted by Google. NetSuite has also just released mobile ERP for iPhone.
In April, the business management software maker will host its annual conference bringing together solution providers, developers, independent software vendors, and system integrators. SuiteCloud 2010 will focus on upcoming enhancements to the NetSuite platform and advances in cloud computing.
Evan Goldberg, president and chief technology officer, founded NetSuite in 1998 with Lawrence Ellison, founder and CEO of Oracle. The company currently has about 970 employees and is headquartered in San Mateo, California. NetSuite also has offices in Ontario, Canada, Australia/New Zealand, Europe, Japan, Hong Kong, and Singapore.
NetSuite has strategic partnerships with Apple, FedEx, NEBS, Inc., PayPal, United Parcel Service, VeriSign, and others.
Total revenue for the year was $166.5 million, a year-over-year increase of 9 percent. NetSuite, which expects sales growth of about 8 percent this year to between $180 million and $185 million, appears to be well positioned for any changes in the business software market.