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Software Companies Running on NetSuite

Written By: Predrag Jakovljevic
Published On: August 15 2013

NetSuite, a provider of cloud-based financials, enterprise resource planning (ERP) and omnichannel commerce software solutions, has certainly found a sweet spot in the distribution and retail sectors, with a budding manufacturing following as well. The vendor has announced that innovative and fast-growing software companies are also turning to NetSuite for cloud-based business management software to fuel domestic and global business expansion. These new recent customer wins join more than 800 software customers taking advantage of NetSuite’s industry-specific capabilities to address such challenges as complex revenue recognition (with full support for key standards, including SOP 81-1, SOP 97-2 & 98-9, SAB 101, and EITF 00-21, and the latest EITF 08-01 and EITF 09-03 rules) and unified billing (a single solution to manage subscription, ad hoc and usage-based billing across multiple revenue sources), including the increasingly prevalent subscription model.



Software companies that have recently upgraded to NetSuite start with Rocket Fuel, based in California, a provider of artificial intelligence advertising solutions for digital marketers. The company implemented NetSuite and NetSuite OneWorld in late 2012 to upgrade from a QuickBooks application that lacked the scalability needed to support the company’s rapid growth. Rocket Fuel reportedly selected NetSuite over Microsoft Dynamics GP for its ease of implementation, use, and customization; cost-effectiveness; no-maintenance cloud architecture; and capacity to support rapid growth.

SeaChange International, based in Massachusetts, a global multi-screen video software innovator supplying solutions to cable, telco, and mobile providers, implemented NetSuite to replace an Oracle ERP/financials and manufacturing system. NetSuite CRM is currently planned to be rolled out in mid-2013 to replace Microsoft Excel-based processes in the US and a homegrown customer relationship management (CRM) system at SeaChange’s largest subsidiary, in the Netherlands. The NetSuite Manufacturing Edition supports hardware production in Massachusetts, while NetSuite OpenAir supports the services team with professional service automation (PSA) linking to financials. New implementations of NetSuite Financial Planning and a solution from NetSuite partner Avalara for US sales tax compliance extend SeaChange’s NetSuite environment.

Finally, SendGrid, headquartered in Colorado, provider of a cloud-based service delivering transactional e-mail on behalf of companies, replaced QuickBooks with NetSuite in 2012 as the company built out the scalability it needed for rapid global growth. In addition, SendGrid has extended its NetSuite environment with an expense management solution from NetSuite’s partner Concur.

In addition to the recurring themes in the aforementioned examples, NetSuite delivers other key capabilities that are important to software companies, such as automation and visibility to optimize contract renewals and minimize revenue leakage and customer churn with a single repository accessible to sales, service, and finance. Software companies can grow internationally with NetSuite OneWorld for global financial consolidation, multi-subsidiary management, transactions in up to 190 currencies, and automated tax compliance in nearly 50 countries.

In addition, NetSuite OpenAir services resource planning (SRP) and PSA capabilities give services teams project management, resource optimization, time and expense reporting, and automated invoicing, fully integrated with financials. Visibility into business performance across finance, sales, and service can be achieved through role-based dashboards and metrics specifically designed for the needs of software companies.
 
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