NetSuite

NetSuite Inc.

File:NetSuite Logo.PNG
Company type	Private
Industry	Computer software
Founded	California (1998)
Headquarters	San Mateo, California
Key people	Lawrence (Larry) J. Ellison, CEO Zach Nelson, Chairman/CTO Evan Goldberg
Products	NetSuite NetCRM NetCRM+ SuiteFlex NetERP NetSuite Small Business NetCommerce
Revenue	$40 million (2004)
Website	www.netsuite.com

NetSuite Inc. company that offers Software as a Service (SaaS) for small to medium enterprises. NetSuite was originally named NetLedger by its founders Larry Ellison and his protege Evan Goldberg.

History

NetSuite, Inc. of San Mateo, Calif., founded in 1998 as NetLedger, helped pioneer the concept of software as a service, that is, "renting" software over the Internet via a monthly or yearly subscription, as opposed to buying it on a CD. NetSuite's "suite" of Web-based integrated on-demand business software applications is designed for small and mid-sized companies.

NetSuite’s hosted online business software programs include accounting, customer relationship management (CRM), enterprise resource planning (ERP) software, e-commerce and Web site development. The company says it offers all the types of software most businesses rely on and lets businesses access what they need, when it is needed. With the programs delivered via the Internet, customers can access their particular accounts from any Internet connection.

Evan Goldberg, chairman and chief technology officer, founded the company with the financial backing of Lawrence J. Ellison, founder and chief executive officer of Oracle Corp. Other initial investors were StarVest Partners and UBS PaineWebber.

Goldberg had worked for Ellison at Oracle. Ellison urged him to develop online accounting software, instead of Goldberg’s original idea of an online program to help sales people organize their leads. Accounting software “is the underpinning of [anyone's] business," Goldberg recalls Ellison saying. (Business Week: NetSuite Gets Ready For Its Close-Up; By Sarah Lacy; December 11, 2006)

The initial iteration was marketed as Oracle Small Business Suite. (Inc. Magazine: Larry's Kids; By Rob Turner; February 2005)

When it was first developed, the software emphasized accounting functions but it quickly expanded to provide a “suite” of programs to allow businesses to manage their operations from initial customer contact through shipping of product and invoicing.

Originally targeted as an economical solution for small businesses, the privately held company has found its combination of business solutions is popular with mid-sized business as well.

Software revisions are simply put on NetSuite’s central server where all customers can access the new version immediately.

"I just believed it to be the future of software," said NetSuite CEO Zach Nelson. "The last big software paradigm shift is moving software applications to the Internet." (Silicon Valley/San Jose Business Journal: Ready for a change; Zach Nelson sees new cultural norms as the key to high-tech marketing; By Douglas E. Caldwell; Feb. 14, 2003)

Integrating various types of software, such as ERP, CRM and e-Commerce means that when a change is made in one aspect, it is reflected in all related types of programs. (Outsourcing Journal: One App Fits All; By John Hamey; February 2007)

The company’s products are being used internationally, with the Web-based concept allowing managers immediate visibility into their operations whether down the hall or on the other side of the planet. (FORTUNE Small Business Magazine: Small companies that play big; New services and technology are helping entrepreneurs look like - and go up against - the largest businesses; By Julie Sloane, Justin Martin and Alessandra Bianchi; Oct. 23, 2006)

NetSuite has grown to about 600 employees and has offices in California as well as in the United Kingdom, Canada, the Philippines, Japan, Singapore, Hong Kong and Australia.

Products

NetSuite has released NetSuite 11 as its base service with NetSuite Small Business, NetSuite CRM, NetSuite CRM+, SuiteFlex, NetERP and NetCommerce as other integratable services.

The company points to SuiteFlex as one of its strongest attributes. It says it allows customers, partners and developers to customize all aspects of Netsuite to their particular business.

Services

As NetSuite is implemented around the world, NetSuite believes it is a service provider not just a software maker. There is a large network of value-added resellers who sell and implement NetSuite.

Features

NetSuite is a broad application covering business functions as diverse as CRM, ERP, ecommerce, customer support, accounting, sales force automation, partner relationship management, inventory management, and marketing automation. Each of these also includes groups calendaring and tasking functions.

Officers

Evan Goldberg, Co-Founder, Chairman and Chief Technology Officer

Zach Nelson, President and Chief Executive Officer

Jim McGeever, Chief Financial Officer

Dean Mansfield, President Worldwide Operations

Tim Dilley, EVP Professional Services

Douglas Solomon, VP Legal, Corp Affairs & Secretary

Stephen Wolfe, SVP Product Management

Dave Lipscomb, SVP Engineering and Operations

Jay O’Connor, SVP Worldwide Marketing

Mei Li, SVP Corporate Communications

Board of Directors

Evan Goldberg, (Chairman) Co-Founder, Chief Technology Officer of NetSuite

Zach Nelson, President and Chief Executive Officer of NetSuite

Billy Beane, General Manager, the Oakland Athletics

Deborah Farrington, Founder and General Partner, StarVest Partners, L.P.

Steve Fink, Chief Executive Officer, Lawrence Investments, LLC

Keith Grinstein, Chairman, Coinstar Inc.

Philip Simon, President, Lawrence Investments, LLC

Kevin Thompson, Chief Financial Officer, SolarWinds

See also

• Comparison of accounting software
• Web application

Competitors

SAP Everest Software

External links

• NetSuite company page
• Small Business Computing Magazine Review of NetSuite.
• InfoWorld: Four-way CRM shootout - compares NetSuite, RightNow, SalesNet, EBSuite & Salesforce.com.
• NetSuite Wiki - User Contributed Documentation