|By Business Wire||
|October 16, 2012 04:16 AM EDT||
NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERP software suites, today announced that for the second year in a row, more than one-third of the companies that made JMP Securities' Hot 100 Best Privately Held Software Companies list use NetSuite to run their key business processes in the cloud. These companies are identified by JMP Securities, a San Francisco-based boutique investment bank, as the software industry's leading private companies. Some of these high-growth innovators include HubSpot, Marin Software, Talend, and Joyent. All four rely on NetSuite OneWorld to manage their end-to-end business processes, contributing to seamless growth and readiness for multinational expansion and the public equity markets. The world's most powerful cloud ERP solution for complex, multinational companies, NetSuite OneWorld meets the needs of global software companies with built in support for real-time multi-subsidiary financial consolidation and reporting, multi-currency, multinational taxation rules and unified real-time views into the business performance of each and every subsidiary.
NetSuite Powers Hundreds of Leading Software Companies
NetSuite's cloud-based ERP suite is the solution of choice for the software industry, running critical business processes for hundreds of the most innovative software companies. High-growth technology firms benefit from the streamlined business processes, which at the same time empower every stakeholder—from executives to finance, sales and service—with a personalized view of business performance. Because NetSuite solutions are built to support the needs of fast-growing companies, including the ability to quickly scale to multiple subsidiaries, languages and currencies, it has become a premiere choice for technology pioneers with acute enterprise needs and aggressive business models.
NetSuite is uniquely positioned to serve today's best and brightest firms by providing an integrated, focused set of functionality for software companies. With NetSuite, software companies are able to focus on innovation and growth while enjoying streamlined billing and renewal processes, accurate financial reporting and the ability to meet revenue recognition requirements and comply with the Financial Accounting Standards Board (FASB) rules for multi-element sales, known as EITF 08–01 and EITF 09–03.
"The JMP Hot 100 list is reconstituted every year as companies graduate to the public equity markets and new entrants are added. That's why we are especially pleased by this year's results, showing that a new generation of innovators see NetSuite as the best platform to fuel their growth," said Jim McGeever, COO at NetSuite. "Our customers' success is the surest sign that our cloud solutions are now considered best practices for the software industry."
Today, more than 12,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-class cloud ERP suites for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations, as demonstrated by a recent Gartner study naming NetSuite as the fastest growing top 10 financial management systems vendor in the world. NetSuite continues its success in delivering the best cloud ERP/financial suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.
For more information about NetSuite, please visit www.netsuite.co.uk.
NOTE: NetSuite and the NetSuite logo are service marks of NetSuite Inc.