NETSUITE NAMED THE MARKET LEADER IN BUSINESS APPLICATION SUITES FOR SMBs
Yankee Group Ranks On-Demand Integrated ERP/Ecommerce/CRM Functionality Over SAP and Sage
San Mateo, Calif. — February 23, 2006 — NetSuite, Inc., the leader in on-demand business management software for small and mid-sized businesses (SMBs), today reported that in a new Yankee Group study of SMB business application suites, NetSuite led the rankings, besting SAP and Sage Software. This study ranked the leading products based on multiple factors, including breadth of solution, market share, geographic coverage and ease of customization. In all categories, NetSuite received the highest ranking, or was tied for highest. For more information about this, please visit www.netsuite.com/suiteleader.
According to the study, small and mid-sized enterprises are following the same business application transition Fortune 1000 companies have recently completed—the move from cobbled together, stand-alone software solutions to an integrated suite to manage core business operations. This report follows a November 2005 Yankee Group survey of 700 SMBs that detailed the need for integrated suites. In "2005 SMB Business Applications and Web Survey," the top three technology challenges facing SMBs all involved difficulty in integrating and managing multiple stand-alone products for finance, ERP, CRM and Ecommerce. In this study, NetSuite was ranked as the best solution to eliminate these concerns based on its complete solution with rich functionality across all modules—accounting, ERP, CRM and Ecommerce.
The study also identifies the growing need for on-demand solutions in the SMB market. As small and mid-sized businesses don't have the financial or human resources to manage complex on-premise applications, they are looking to on-demand offerings to reduce costs and increase productivity. Of the vendors studied, only NetSuite offers an integrated suite of Web-based applications. The offerings from both SAP and Sage are designed as on-premise solutions.
"The same 'point application vs. integrated suite of applications' battle that was fought in the enterprise is now happening in the mid-market, and it is pretty clear that an integrated suite of applications will win in the SMB market as well," said Zach Nelson, CEO of NetSuite. "The combination of an integrated suite of business applications delivered as a service via the Internet is the 'killer app' for SMBs."
The Yankee Group survey, led by Sanjeev Aggarwal, Small & Medium Business Strategies Senior Analyst, concluded, "SMBs require an easy-to-use, integrated business application suite. Such solutions can help improve personalization and the customer, supplier, partner, and employee experience."