Disruptive Technology Innovators Embdrace NetSuite Cloud To Support Fast-Growing Business

Yammer, Box, Square and Ooma Entrust Business Operations to NetSuite

SAN MATEO, Calif. — February 15, 2012 — NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERP software suites,today announced the latest disruptive technology innovators to select NetSuite andNetSuite OneWorld to manage their high-growth business operations. Thesedisruptive technology innovators include Yammer, Box, Square and Ooma.Realizing that they outgrew their prior systems and spreadsheets, they turnedto NetSuite cloud solutions, including NetSuite OneWorld, forthe flexibility and agility they need to support their rapid business expansionand also for speed of implementation. These companies join the growing list ofdisruptive innovators to recently adopt NetSuite solutions, including camerapioneer Lytro and social bargain leader Groupon. NetSuite offers streamlinedbusiness processes, while at the same time empowering every stakeholder—fromexecutives to finance, sales and service—with a personalized view of businessperformance. Because NetSuite solutions are built to support the needs offast-growing companies, including the ability to quickly scale to multiplesubsidiaries, languages and currencies, it has become a premiere choice fortechnology innovators with acute enterprise needs and aggressive businessmodels.

NetSuite Cloud Powers Hyper-GrowthCompanies’ Domestic and Global Business Operations and Expansion

For more than a decade, NetSuite has been providingflexible, scalable, cloud-based enterprise solutions to companies looking for aproven software solution to power their fast-growing operations. Theeffectiveness and agility of such companies’ business operations wereconstrained by on-premise software and manual processes. On-premise softwarelacks the scalability needed by fast-growing businesses. Many fast-growingcompanies still rely on highly inefficient, spreadsheet-driven manual processesto manage key business processes from financials, customer support and customerservice to ecommerce. It's very costly to install and maintain traditionalon-premise software, and the complexities of the systems don't scale with agrowing employee base and global expansion. Choosing the NetSuite cloud givestoday's fast-growing, innovative pioneers quick access to superior ERP, CRM andEcommerce functionality without the delays and infrastructure build-outassociated with legacy systems. In addition, NetSuite OneWorld delivers onthese fast-growing companies’ needs to expand globally. Because NetSuiteOneWorld requires no local or customer provided infrastructure, it can beeasily deployed to new markets in as little as three weeks, instead of the sixmonths or more that is typical of most on-premise solutions. It addresses thecomplex multi-national and multi-company needs of global enterprises and canreadily enable businesses to adjust for currency, taxation and legal compliancedifferences at the local level, with regional and global business consolidationand roll-up. The solution provides unprecedented global visibility of allaspects of a business worldwide in real time, creating consistent, compliantmanagement across the organization, locally and globally. With NetSuite, theseinnovative companies can support their global expansion and experience aunified, real-time view into the business performance of each and everysubsidiary despite the rapid and broad global expansion.

"Although each of these companieshas unique requirements, they face the same challenge of time-to-market tocapitalize on the opportunities and success that each has created,” said ZachNelson, NetSuite CEO. “High costs aside, these innovative companies cannotafford to stall their continued growth to launch a grueling implementation of complex,on-premise software. Moving to the cloudallows them to stay laser focused and take advantage of the market when it’sripe.”

The latest disruptive high-tech companiesthat have adopted NetSuite include:

Square (www.squareup.com), based in San Francisco, Calif., isrevolutionizing millions of everyday transactions between buyers and sellerswith its free credit card reader for the iPhone, iPad, and Android devices,allowing anyone to accept credit cards anywhere, anytime. As the company grew,Square turned to NetSuite OneWorld for the flexibility and agility it needs tosupport its rapid business expansion, and also for speed ofimplementation.

By engaging NetSuite Professional Servicesto configure and implement the solution, Square went live in just two months, quicklygiving the company visibility into business operations through executive andaccounting dashboards. The company can now leverage NetSuite's provenprocure-to-pay functionality to better manage vendor and contractrelationships, and has room for growth into new markets and therapidly-expanding world of payments.

Box (www.box.com), based in Palo Alto, Calif., is transforming how100,000 businesses – including 82 percent of the Fortune 500 – share, manageand collaborate on content in the cloud. With a rapidly growing enterpriseclient base, Box needed a solution that could capture detailed financialinformation while coping with the sheer volume of customer records andtransactions. After considering a number of options, Box selected NetSuiteOneWorld to manage its accounting operations.

Box completed its initial rolloutof NetSuite OneWorld in just six weeks, giving the company deeper insight intodaily transactional activity. NetSuite OneWorld is robust enough to help Box addressits largest enterprise clients, but also nimble enough to efficiently supporttens of thousands of smaller customers. Box now has an enterprise-grade ERPsolution that matches its cutting-edge cloud content management andcollaboration service.

“We needed a solution that couldscale at the speed of our business, supporting Box’s growing enterprisecustomer base and expansion into new global markets,” said Dave Adams,Controller at Box. “We’ve been impressed by both the power and flexibility ofthe NetSuite OneWorld solution.”

Yammer (www.yammer.com), based in San Francisco, providesorganizations the advantages of a social foundation critical for success intoday's fast-paced environment. More than 200,000 businesses already use theenterprise social network, and the company predicts a strong need forinternational subsidiaries as its business expands to new countries andlanguages. With a growing number of locations and a greater organizationalemphasis on established industry best practices, Yammer quickly understood theneed to move past small-business software and spreadsheets, choosing NetSuiteOneWorld which was able to go live in just four months.

Today, three Yammer entities in theUS, UK and Australia all consolidate into the same financial view. Yammerbenefits from NetSuite OneWorld's seamless multi-currency management in USdollars, pounds sterling, Australian dollars and euros. Most importantly,NetSuite OneWorld's top-notch revenue recognition capabilities have enabledYammer to gain full control of hundreds of complex revenue schedules previouslymanaged in unwieldy spreadsheets. The company now has enterprise-class controlof accounts payable and receivable activity and is well-positioned for futuregrowth.

"Our controller came to uswith extensive NetSuite experience and recommended the cloud solution. Sinceadopting the platform, our company has greater flexibility and transparencyinto each level of the organization, as well as the scalability needed to meetthe demands of our growing business," said Mark Woolway, vice president ofCorporate Affairs at Yammer. "The multi-national, multi-currencycapabilities of NetSuite OneWorld are crucial to our growth plans."

Ooma (www.ooma.com), based in Palo Alto, Calif., the world's mostinnovative provider of VoIP solutions that deliver free domestic calling to hundredsof thousands of homes over existing high-speed Internet connections and allowcustomers to keep their favorite wired and cordless handsets. By savingcustomers hundreds of dollars per year compared to conventional phone billcosts, Ooma is rewiring the telecommunications world and needed an equallyvisionary partner to help it sustain growth. Ooma required a comprehensivesolution to enhance its customer service capabilities, provide sophisticatedcost-of-goods-sold accounting of products sold through retail channels and eliminatehundreds of spreadsheets.

NetSuite delivers the businesscapabilities that keep Ooma's visionary VoIP business growing withoutlimitations. A unified approach to sales, service and accounting as well asrevenue recognition and inventory management enable Ooma to conduct businesswithin a single solution.

"NetSuite's comprehensivefeatures give us the tools we needed to improve our business insights as wellas keep our customers satisfied," said Eric Stand, CEO of Ooma. "We wanted an all-in-one solutionthat would give us room to grow without limits, and NetSuite delivered."

Today, more than 12,000 companiesand subsidiaries depend on NetSuite to run complex, mission-critical businessprocesses globally in the cloud. Since its inception in 1998, NetSuite hasestablished itself as the leading provider of enterprise-class cloud ERP suitesfor divisions of large enterprises and mid-sized organizations seeking toupgrade their antiquated client/server ERP systems. NetSuite excels atstreamlining business operations, as demonstrated by a recent Gartner studynaming NetSuite as the fastest growing financial management systems vendor inthe world. NetSuite has continued its success in delivering the best cloud ERP businesssuites to businesses around the world, enabling them to lower IT costs significantlywhile increasing productivity, as the global adoption of the cloud isaccelerating.

Follow NetSuite's Cloudblog, NetSuite's Facebook page and @NetSuiteTwitter handle for real-time updates.

For more information aboutNetSuite, please visit www.netsuite.com.

NOTE: NetSuite and the NetSuitelogo are service marks of NetSuite Inc.

Printer Friendly

Email Page

Sponsor Message