NetSuite Inc. is a vendor of cloud computing business management software suites. The company headquartered in San Mateo, CA 9USA) was founded in October 1998 by Evan Goldberg and Larry Ellison. NetSuite provides services that aid companies to manage their business in a single system, which includes Enterprise Resource Planning (ERP), Accounting, Customer Relationship Management (CRM), and Ecommerce for small and medium-sized businesses. Apart from USA, it also has its offices in Austin, Boston, Denver, Canada, Australia, Singapore, Czech Republic, Philippines, Japan and Australia.
The company employs close to 1,000 people and cater to more than 6,500 customers. Its revenue stood at USD 167 mn in 2010, up by 9% from 2009. It has a market capitalization of about USD 2.37 bn (as of May 23, 2011).
Exhibit1: NetSuite’s Revenue Business Model
Business line, product and service offerings:
Products: NetSuite offers four main software-as-a-service (SaaS) products; NetSuite Financials, which includes ERP, NetSuite CRM+, NetSuite Ecommerce and SuiteAnalytics.
- NetSuite Financials includes accounts payable and receivables, budgeting and multi-currency, an order management and fulfillment process as well as integrated FedEx and UPS shipping tools and drop shipment capabilities.
- NetSuite CRM+ is a customer relationship management (CRM) product. The functionality includes a sales force automation (SFA) component that offers; team selling, territory tracking, quote generation and incentive management. The CRM+ function includes a marketing automation module that allows users to participate in e-mail marketing, keyword marketing, search engine optimization (SEO) and campaign tracking.
- The Ecommerce functionality gives clients the ability to produce an online shopping experience for their customers. NetSuite Ecommerce provides web store capabilities to help clients create a personalized online store.
- The SuiteAnalytics module provides built-in business intelligence which helps in reporting and decision making.
Services: NetSuite services include:
- SuiteConsulting: SuiteConsulting provides NetSuite software solution for business requirements and in many industries, including software, professional services, wholesale distribution, retail, financial services and manufacturing.
- SuiteTraining: SuiteTraining offers a wide spectrum of training courses and formats, including instructor-led public training classes at NetSuite locations, on site and on-demand library.
- SuiteSupport: It provides assistance and solves queries regarding NetSuite business software implementation.
NetSuite helps customers in a variety of industries in addressing their specific business challenges. It has its clients in America, EMEA, APAC regions. Select list of its clients are provided below:
- Software – Successfactors, Solarwinds, ESET, SnagAJob, Satmetrix etc.
- Wholesale Distribution – Wine.com, Advantage Sign Supply, Digital Check, Laguna Tools etc.
- Manufacturing – RedBuilt, Wireless Matrix, Feeney, Malcolite, ICONN etc.
- Services – Igloo, Wrigleyville Sports, Child Care Marketplace, Clickstop etc.
- E-Commerce -Gawker Media, Prudential Locations, Mindwave Research, WSI, Innovise plc etc.
- Others – Jollibee, Guitar Center Pro, Arbonne, Niner Bikes, Hallelujah Acres etc.
The company also have strategic partnerships with firsm including some well known IT firms:
- Dell (Boomi)
- Apple Inc.
- FedEx Corporation
- IBM (CastIron)
- Merchant e-Solutions, Inc.
- United Parcel Service, Inc.
- Visa (Cybersource)
- Chairman and CTO – Evan Goldberg
- President and Chief Executive Officer – Zach Nelson
- Chief Operating Officer – Jim McGeever
- Chief Financial Officer – Ron Gill
- May 17, 2011 – Yammer and NetSuite (using ERP software-as-a-service) declared that the two companies are teaming up to enable Yammer users to follow invoices, shipped orders, CRM contacts and other updates from NetSuite.
- May 11, 2011 – RSM McGladrey reached an agreement in principle to become a NetSuite reseller and Solution Provider, with its Technology Services practice offering the full spectrum of NetSuite cloud solutions.
2955 Campus Drive, Suite 100
San Mateo, CA 94403-2511
E-mail: [email protected]