NetSuite

From Wikipedia, the free encyclopedia
Jump to: navigation, search
NetSuite Inc.
Type Public (NYSEN)
Industry Computer software
Founded California (1998)
Headquarters San Mateo, California, U.S.
Key people Zachary (Zach) Nelson (CEO)
Evan M. Goldberg (Chairman/CTO)
Lawrence (Larry) J. Ellison Stakeholder
Services Cloud-based business management software
Revenue Increase US$414.5 million (2013)[1]
Operating income Increase (US$60.7) million (2013)[2]
Net income Increase (US$70.4) million (2013)[2]
Employees 1800 (February, 2013)[3]

NetSuite Inc. is a United States software company based in San Mateo, CA. The company markets cloud-based software-as-a-service integrated business management software. This includes software for ERP, accounting, order management, inventory, CRM, professional services automation (PSA), and E-commerce applications. NetSuite was originally named NetLedger by its founders, Larry Ellison and one of his early employees, Evan Goldberg.[4]

History[edit]

Originally NetLedger, NetSuite was founded in 1998 by Evan Goldberg,[4] current chairman and chief technology officer. Goldberg had the financial backing of Lawrence J. Ellison, founder and chief executive officer of Oracle Corp. Other initial investors were StarVest Partners and UBS PaineWebber.

NetLedger was later renamed to Oracle Small Business Suite,[4] and finally NetSuite.

NetSuite's major shareholder is Ellison, who financed the company's creation in late 1998.[citation needed] In December 2007, NetSuite became a publicly traded company after its IPO on the NYSE.[5]

NetSuite has about 1,700 employees[6] and has offices in San Mateo, California; Toronto, Canada; Denver, Colorado; Boston, Massachusetts; Oklahoma City, Oklahoma; Brno, Czech Republic; the United Kingdom; the Philippines; Japan; Singapore; Hong Kong; Australia and Montevideo, Uruguay.[7][8][9]

Products[edit]


NetSuite OneWorld
NetSuite OneWorld is software for global businesses. It encompasses modules for accounting/Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), ecommerce and professional services automation. NetSuite launched OneWorld in 2008 to target midsized companies that are multinational or have multiple subsidiaries. It allows companies to run multiple companies or subsidiaries off of one system.[10] The software runs in the cloud via a Software as a Service (SaaS) model, meaning NetSuite runs and maintains the computing infrastructure and delivers it over the Internet. Users access the software via a Web browser and pay a monthly subscription price. OneWorld supports more than 170 currencies, 15 languages, and country-specific accounting standards in North America, Europe and Asia. A foreign currency revaluation engine lets businesses monitor exchange rate fluctuations continuously. In 2012, NetSuite offered OneWorld as a Two Tier ERP option for companies running Oracle software. NetSuite argues that the two-tier approach can cut deployment time and costs instead of installing on-premise ERP in divisions.[11]
NetSuite SuiteCommerce
SuiteCommerce is NetSuite’s software package for retailers, integrating ecommerce websites with in-store sales and back office accounting tools. SuiteCommerce is a central system that manages all transactions and customer interactions via the Web, mobile, social and brick-and-mortar.[12] NetSuite acquired Retail Anywhere, one of its partners, in January 2013 to provide a Point of Sale (POS) system to complement SuiteCommerce. Integrating Retail Anywhere with NetSuite's cloud computing platform gives businesses a full view of each customer across all retail channels, while providing inventory and financial information.[13]
SuiteCloud Developer Network NetSuite’s SuiteCloud Developer Network is a Java-based development platform for NetSuite partners and customers to customize the software and build new applications to complement NetSuite. It includes the SuiteApp.com solution directory and a number of developer tools.

Awards[edit]

In 2012, NetSuite was ranked among top 20 cloud computing companies in the world.

In 2013, NetSuite won for industry excellence in three different categories at the 27th annual CODiE Awards:

  • NetSuite OneWorld won CODiE Award for Best Financial Management Solution
  • NetSuite SuiteCloud won CODiE Award for Best Cloud Infrastructure Software

According to Gartner, NetSuite has been the world's fastest growing top 10 Financial Management System from 2008–2011. NetSuite has also been the only top 10 Financial Management System during this timeframe that exclusively offers cloud-based Financial solutions.

NetSuite was voted the best cloud application by a panel of leading independent experts in the Cloud Computing World Series Awards 2010 in London.

NetSuite OneWorld was voted by UK customers as the Enterprise Accounting Software of the year in Sift Media's 2009 Software Satisfaction Awards.

NetSuite Partners/Competitors[edit]

NetSuite's major partnership categories consist of:

  • Solution Providers
  • Systems Integrator
  • SuiteCloud Developer Network

NetSuite's most direct competitor is Intuit's Quickbooks Online.[14] Other competitors include Intacct, Microsoft's Dynamics, and Epicor. [15]

See also[edit]

References[edit]

External links[edit]