BMW ORACLE RACING RIDES NEW TECHNOLOGY TO VICTORY
BMW Oracle Racing Uses NetSuite Cloud Computing Software Suite To
Power The Business Of Competing For The America's Cup
SAN MATEO, Calif.—February 16, 2010—NetSuite Inc. (NYSE: N), a leading vendor of cloud computing business management software suites, was a key supporter of the quest to return the America's Cup sailing trophy to the United States after a fifteen-year absence. For the third straight America's Cup competition season and the eighth year running, NetSuite is providing an integrated business solution to premier sailing team BMW Oracle Racing. BMW Oracle Racing uses NetSuite's powerful solution for accounting, expense and payables management, international tax compliance, reporting, employee records, and multi-currency management. BMW Oracle Racing defeated Alinghi and Société Nautique de Genève for the 33rd America's Cup in Valencia, Spain, which ended on Sunday, February 14, 2010. For more information on NetSuite and BMW Oracle Racing, please visit www.netsuite.com/BMWOracleRacing.
BMW Oracle Racing's groundbreaking USA trimaran craft is fast, nimble, smooth, and innovative—just like NetSuite's industry-leading enterprise platform. Since 2003 and the 31st America's Cup season, NetSuite has been a vital component of BMW Oracle Racing's globe-spanning on-shore operations. BMW Oracle Racing uses NetSuite to manage its international, multi-currency financial operations everywhere from the construction yard to the shakedown course. NetSuite easily coordinates accounts and payables in each of BMW Oracle Racing's three locations—Washington State, Valencia, Spain and New Zealand. NetSuite helps BMW Oracle Racing get the most out of its lean operational staff, enabling the team to focus on capturing the world's most prestigious sailing trophy.
BMW Oracle Racing uses NetSuite to manage multi-currency transactions with true global reach and instant accessibility, without the need for expensive servers or dedicated IT staff. All of the team's income and invoices are processed through NetSuite, which serves as the single authority for financial analysis, as well as the master records of all race team equipment and personnel, right up through race day.
"NetSuite is proud to have been part of the victorious BMW Oracle Racing team," said Zach Nelson, CEO of NetSuite. "We look forward to keeping BMW Oracle Racing on the cutting edge of technology as they move to defend the Cup."
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