Profile: NetSuite Inc (N.N)
21 Jul 2014
NetSuite Inc. (NetSuite), incorporated on April 11, 2007, is a provider of cloud-based financials / Enterprise Resource Planning (ERP) software suites. In addition to financials/ERP software suites, the Company offers a broad suite of applications, including accounting, Customer Relationship Management (CRM), Professional Services Automation (PSA) and Ecommerce that enable companies to manage their core business operations in its single integrated suite. The Company’s real-time dashboard technology provides an easy-to-use view into up-to-date, role-specific business information. It also offers customer support and professional services related to implementing and supporting its suite of applications. The Company delivers its suite over the Internet as a subscription service using the software-as-a-service (SaaS) model. In July 2014, the Company acquired Venda, a provider of ecommerce solutions.
The Company’s main offering is NetSuite, which is designed to provide the core business management capabilities that its customers require. NetSuite, OneWorld and NetSuite CRM+ are designed for use by types of businesses. NetSuite OpenAir (OpenAir) is designed for use specifically by professional services businesses. In addition, the Company offers industry-specific configurations for use by wholesale/distribution, manufacturing and software companies. It also sells additional cloud-based application modules that customers can purchase to obtain additional functionality required for their specific business needs.
NetSuite, focuses on medium-sized businesses and divisions of companies, provides a single platform for financials/ERP, CRM, PSA and Ecommerce capabilities. It contains a broad array of features that enables users to do their individual jobs more effectively. In addition, because all users are transacting business on the same database system, NetSuite can easily automate processes across departments. Each customer can automate its key business functions across all departments, including sales, marketing, service, finance, inventory, order fulfillment, purchasing and employee management.
OneWorld is targeted a global businesses and divisions of companies operating in multinational and multi-subsidiary environments. OneWorld allows users to utilize its single platform for financials/ERP, CRM, PSA and Ecommerce capabilities in multi-currency environments across multiple subsidiaries and legal entities. OneWorld provides the ability to manage multiple companies or legal entities, with potentially different currencies, taxation rules, and reporting requirements, within a single NetSuite account.
OpenAir is a Professional Services Automation (PSA) solution that is used by professional services organizations and is targeted at some of companies with thousands of employees. OpenAir provides a clear view into the services organization’s performance and profitability with dashboards and reports. With OpenAir’s project accounting functionality, professional services organizations can efficiently monitor and manage projects’ revenues, expenses and profitability over the lifetime of the project. This solution provides resource management functionality to improve resource utilization, and delivers Web-based project management that improves on-time project delivery and drives project success rates. OpenAir provides online and mobile time and expense management and enables services professionals to improve their productivity by entering their expenses while on the road.
The SuiteCommerce enables businesses to move from standalone transactional channels such as online, in-store or telephone to an integrated commerce solution that puts the customer at the center of every experience. SuiteCommerce captures preferences and transactions into rich customer profiles to support personalized marketing, merchandising and promotions across all channels.
Retail Anywhere is a point-of-sale (POS) solution that is used by retail businesses to deliver a superior customer experience at the point of sale and turn today's shopper into tomorrow's loyal customer. Retail Anywhere POS includes item search capabilities and real-time access to inventory information throughout retail chain, to help drive sales while satisfying the customer.It also offer advanced capabilities that are part of its integrated suite, but are typically sold separately. These modules allow its customers to specifically augment aspects of its suite to enhance its relevance to their businesses.
SuiteCloud is the Company’s technology platform that allows customers, partners and developers to tailor and extend its suite to meet specific company, vertical and industry requirements for personalization, business processes and practices. It allows partners to rapidly develop and distribute cloud-based products of their own, including industry-specific versions of its application suite. NetSuite provides partners building on SuiteCloud with a Website SuiteApp.com that enables them to market and distribute their value-added solutions to NetSuite.
The Company competes with Epicor Software Corporation, Intuit Inc., Microsoft Corporation, Oracle Corporation, SAP AG, The Sage Group plc and salesforce.com, inc.
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