SVP, Corporate Communications
NetSuite's Cloud-Based Business Management Software Streamlines Operations for Leading Non-Profit, Microfinance and Environmental Organizations
SAN MATEO, Calif.—January 12, 2011—NetSuite Inc. (NYSE: N), the industry's leading vendor of cloud-based financials / ERP software suites, today announced the latest social enterprises to benefit from a NetSuite.org product donation. NetSuite.org is NetSuite's unique corporate citizenship program, which enables growing social enterprises to access product donations of NetSuite's cloud-based business software service that helps deliver increased productivity, reduced operating costs, and improved organizational flexibility. The most recent social enterprises to adopt NetSuite include Easy Office, United Prosperity, EdTec, Envirofit and Kiva. For more information about social enterprises achieving greater success with donations of NetSuite's superior cloud-based business software solutions, please visit http://www.netsuite.org/grantee-success.shtml.
NetSuite's highly customizable cloud computing platform is uniquely well-suited to the needs of social enterprises. As market-driven entities, social enterprises need a reliable solution to manage inventory, accounting, international consolidation, reporting, real-time analytics, and low-cost, reliable operations. But their social aims require the ability to also track their social impact—the "second bottom line." NetSuite's flexible reporting and powerful analytics tools make it easy for social enterprises to evaluate social impact as a key performance indicator (KPI), alongside conventional notions such as operating margin and cash flow.
Social enterprises are mission-driven organizations which apply market-based strategies to achieve a social purpose. The movement includes both non-profits that use business models to pursue their mission, and for-profits whose primary purposes are social. As the adoption of modern cloud-based software solutions accelerates, emerging social enterprises are looking for cost efficient ways to adopt state of the art business operations software. NetSuite, provided by NetSuite.org's Social Enterprise Grant, is a natural fit.
A NetSuite.org Social Enterprise Grant includes a base software donation, deep discounts on additional items, service grants and social solutions. The base donation includes NetSuite's complete software suite, five user access licenses and support. Discounts are tied to the applicant's revenue with small organizations (below $2M) receiving a donation; mid-sized organization receiving an 80% discount and large organizations ($5M+) receiving a 50% discount. Pro bono service grants are powered by employee volunteers and help social enterprises make the most effective use of their donation. Social solutions are software solutions built on top of the NetSuite platform to address business processes unique to social enterprises, like fundraising or carbon accounting.
"We are thrilled to have the opportunity to help these social enterprises deploy state-of-the-art business management technology," said David Geilhufe, NetSuite.org Program Manager. "Our expertise in providing and optimizing business management software directly helps these organizations change lives and fulfill their missions."
"NetSuite corporate citizenship leverages what is unique about our company, our technology and our people," said Evan Goldberg, NetSuite co-founder and CTO. "Helping social enterprises—businesses that are changing the world for the better—to improve their operations was a natural fit for NetSuite.org."
Some of the recent social enterprises to run their organizations on NetSuite software include:
Easy Office (www.youreasyoffice.com), which provides affordable finance, accounting and bookkeeping services to enable non-profits nationwide to streamline their operations and focus on their missions. Not only does Easy Office leverage NetSuite to run the business operations of their own organization from sales to customer billing, but it manages client NetSuite systems through business process outsourcing services. "Our NetSuite client portal allows clients to see in real-time exactly what our team is doing on a real-time basis," said Jeff Russell, Easy Office CEO. "NetSuite's transparency allows our team in Boise to work closely with non-profits nationwide, and the internal efficiencies we realize with NetSuite saves them money which can be reallocated to their programs."
United Prosperity (www.unitedprosperity.org), which enables website visitors to combat extreme global poverty by multiplying the impact of their money through loan guarantees. As a small startup, United Prosperity didn't have the financial resources to purchase a complete business solution. NetSuite.org's service donation was critical to a successful and sustainable launch with a high growth trajectory. "NetSuite's ability to handle the complex requirements we anticipate a few years down the line is perfect for our situation," said Bhalchander Vishwanath, founder and CEO of United Prosperity. "NetSuite.org's product donations are a great example of how technology companies can make a positive difference in the world, and we are proud of our association with NetSuite."
EdTec (www.edtec.com), a social venture helping over 200 charter schools manage their operations and focus on their mission of educating students. EdTec uses NetSuite's SuiteFlex scripting and integration solution to create specific applications critical to charter school management, bringing world-class financial and operations support to charter schools at extremely low cost in an especially tough funding environment. "Charter schools have unique requirements and financial challenges, and NetSuite's solution is both user-friendly and highly customizable," said Steve Campo, EdTec President and CEO. "Thanks to NetSuite.org's support, EdTec can offer a tailored online service for charter schools that frees up staff time, allowing scarce dollars to stay in the classroom where they belong."
Envirofit (www.envirofit.org), sells clean-burning cook stoves in over 40 countries. So far, the company's operations have saved over 95,000 tons of wood and reduced carbon dioxide emissions by 175,000 tons. NetSuite OneWorld helps the company manage its international operations, ensuring that the company's Denver headquarters can easily roll up multinational results without the need for expensive accounting overhead in each market. "NetSuite OneWorld has been critical to our global expansion, helping us both to manage our earned income and grant receipts," said Tim Bauer, Envirofit VP of Operations. "Instead of a disjointed system for tracking our sales and impact, NetSuite.org has made it possible to run multinational, multi-currency operations, and define a clear business process for our subsidiaries."
Kiva (www.kiva.org), allows people to lend money via the Internet to microfinance institutions in developing countries around the world, which in turn lend the money to small businesses. Through its innovative web-based platform and initiatives like the Kiva Fellows Program, Kiva connects over 450,000 lenders to over 350,000 entrepreneurs in the developing world. With the strength of the NetSuite cloud business management solution, Kiva is able to run its entire back office operation in an efficient, low-cost manner, freeing more resources to focus on the organization's core mission of connecting lenders and entrepreneurs. "NetSuite.org's service gift helps Kiva spend less on administrative overhead while lending activity on the website continues to grow substantially," said Jen Hamilton, Kiva's Chief Financial Officer.
Being a good corporate citizen is no longer just about giving away some money. It's about putting the strengths and assets of a company to work in the world to make a difference. NetSuite.org leverages NetSuite's complete suite of business software, our people and our know-how into a solution for organizations seeking to expand and extend their social impact. NetSuite.org provides product donations, pro bono service grants and social solutions to support charities and social enterprises worldwide in achieving their missions.
For more information about NetSuite.org, please visit www.netsuite.org.
For more information about NetSuite Inc., please visit www.netsuite.com.
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