NETSUITE AND HEIN PARTNER TO PROVIDE EXPERT ACCOUNTING AND REGULATORY COMPLIANCE SOLUTIONS FROM THE CLOUD
Combination of HEIN Expertise and NetSuite Cloud Computing Software Will Help Customers Across Industries Address Complex Operational and Regulatory Compliance Needs
SAN MATEO, Calif. and DENVER, Co.—February 3, 2010—NetSuite Inc., (NYSE: N), a leading vendor of cloud computing business management software suites, and HEIN & ASSOCIATES LLP, a leading accounting and advisory services firm, today announced a partnership to provide both public and private companies with a range of customized accounting and regulatory compliance solutions powered by NetSuite's leading cloud computing applications for financials, enterprise resource planning (ERP) and customer relationship management (CRM).
Working with NetSuite and its powerful, flexible cloud computing application suite and software development platform, HEIN & ASSOCIATES LLP's professional consultants will deliver sophisticated, vertically focused solutions for needs ranging from tax and financial reporting to growth plan development. NetSuite's architecture will enable HEIN & ASSOCIATES LLP to provide timely, Web-based software updates as regulations and best practices evolve.
HEIN & ASSOCIATES LLP's deep roots serving companies in the technology, manufacturing, distribution, and energy fields will promote specialized solutions for each of these industries.
With offices in Denver, Dallas, Houston, and Irvine, California, HEIN & ASSOCIATES LLP is ranked by Accounting Today as one of the 60 top accounting firms in the country. The company's SEC practice is recognized as among the largest in the country by Public Accounting Report. Also, HEIN & ASSOCIATES LLP prides itself on its commitment to integrity and independence, and is consistently recognized as a "Best-of-the-Best" firm by Inside Public Accounting.
"We are very excited to have Hein on board as a Partner to start off 2010," said Glenn Griffin, VP of Business Development at NetSuite. "Hein has a reputation in the accounting community as a leader in a number of key areas and this partnership gives
customers the opportunity to benefit from their knowledge. Implementations provided by Hein will leverage their expertise in GAAP, IFRS, SEC Compliance and internal controls. NetSuite customers will also benefit from Hein's deep understanding of the specific requirements companies need to be competitive in their industry. The combination of NetSuite software and Hein implementations can be offered at a cost that is simply not achievable by companies implementing ‘stone-age' client server systems, even if they are delivered via the outdated managed services model."
According to HEIN & ASSOCIATES LLP managing partner Larry Unruh, "Hein works with many public and larger private companies, so we wanted to partner with an organization that could support the complex operational and regulatory compliance that these companies require. But it also needed to be easy enough to configure that our professionals could layer their internal controls, audit, and industry expertise on top of the system without the need for a developer."
"We're very excited to partner with NetSuite because this system addresses both of these points. Our focus is on providing customized solutions that exceed our client's expectations, and NetSuite's software allows us to continue doing that," said Unruh.
The partnership between NetSuite and HEIN & ASSOCIATES LLP comes at a time when cloud computing is gaining increased traction as the preferred deployment model for business applications. Gartner recently forecasted the SaaS market to have a 17.7% Compound Annual Growth Rate (CAGR) through 2013, nearly five times the total application market's 3.6% CAGR. Gartner Dataquest also recently released figures showing that NetSuite has joined the ranks of North America's top ten ERP vendors by revenue. Strategic advisory service ISM Inc. recognized NetSuite and NetSuite CRM with a Top 15 CRM Small & Medium Business Software Award for 2009. Customer Interaction Solutions magazine named NetSuite CRM as a recipient of a 2009 CRM Excellence Award. Most recently, British businesses named NetSuite the top Enterprise Accounting Software vendor in Sift Media's Software Satisfaction Awards 2009. These awards validate and reinforce NetSuite's mounting importance to companies of all sizes looking for a powerful, integrated enterprise management solution.
About HEIN & ASSOCIATES LLP
HEIN & ASSOCIATES LLP is a full-service public accounting and advisory firm with offices in Denver, Houston, Dallas, and Irvine, California. For more than 30 years, they have provided a broad range of accounting and business advisory services to companies of all sizes in a variety of industries.
HEIN & ASSOCIATES LLP's network affiliation with two of the largest international associations of accounting and advisory firms in the world allows the firm to provide seamless client care domestically and throughout the world. The team-based approach of their professionals provides you with a full range of technical expertise, experience, and specialized industry knowledge to forge customized solutions for your business. Clients get the expertise and knowledge of a larger firm with the personalized attention and timely response that comes from HEIN & ASSOCIATES LLP.
For more information about NetSuite Inc., please visit www.netsuite.com.
NOTE: NetSuite and the NetSuite logo are registered service-marks of NetSuite Inc.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements relating to expectations, plans, and prospects including expectations relating to the expected benefits of NetSuite's partnership with Hein & Associates LLP. These forward-looking statements are based upon the current expectations and beliefs of NetSuite's management as of the date of this release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements in this press release are based on information available to the NetSuite as of the date hereof, and NetSuite disclaims any obligation to update these forward-looking statements.
In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements.