NETSUITE LAUNCHES NETSUITE CRM+
NetSuite CRM+ Fills the Gaps of Traditional CRM Applications by Adding Order Management, Partner Management and eCRM
NetSuite CRM+ Moves Beyond Opportunity-Centric CRM by Putting the "Customer" in CRM
SAN MATEO, Calif., — May 2, 2005 — NetSuite, Inc. today launched NetSuite CRM+, the first hosted Customer Relationship Management (CRM) application that integrates order management, partner management, incentive management, and project tracking to give growing businesses a 360 degree view of all customer interactions. NetSuite CRM+ also offers eCRM, which includes Web site hosting, Web site analytics, customer portals, partner portals and partner management, making it as easy to sell and service customers via the Web as it is in person or on the phone. These advanced capabilities make NetSuite CRM+ the only CRM solution to automate the entire customer lifecycle – from a "suspect" browsing a company's Web site, to an interested lead, to a qualified prospect, to a customer who has actually placed an order, to servicing that customer and finally, to guiding that customer to re-purchase. For more information on NetSuite CRM+, please visit: www.netcrm.com/plus.
There are numerous on-demand and on-premise CRM software packages available for small, medium and large companies. These legacy systems are built around managing information about prospects before they become customers – often called opportunity management – which only encompasses about a third of the full customer lifecycle. None of these systems capture customer data natively because they lack the basic building block of a customer relationship – what was purchased. NetSuite CRM+ captures this fundamental definition of a customer via Order Management, which serves as the key driver in determining important CRM metrics such as marketing ROI, sales effectiveness, forecast accuracy, sales incentives, and demand forecasting. Because other CRM systems do not capture the details of what a customer has purchased, they frequently provide incomplete and incorrect results for marketing campaigns and sales forecasts, and zero visibility for sales representatives' commissions. With no record of what or how much has been ordered by each customer, marketing has no way to know if the leads generated are actually converting to customers, sales managers have no way to know how their forecasts compare to actual sales and sales representatives have no way to see their compensation.
Additionally, traditional CRM systems integrate poorly with corporate Web sites, a major failing given most customers view the Web site as the preferred point of interaction. NetSuite CRM+ breaks down these barriers found in traditional CRM applications by managing the complete process from lead to prospect to customer in a single system, regardless of channel – on the phone, in person or via the Web. By incorporating the corporate Web site into the selling process, businesses are able to tap into a wealth of information right from the "suspect" stage of a customer who is evaluating the potential of doing business with them. Once they become customers, a self-service portal will allow them to see their outstanding quotes, re-order products and services, view a complete service history and enter new trouble tickets or cases. Providing this level of visibility greatly increases customer satisfaction and the likelihood that they will continue to transact with the same business and place additional orders. And finally, complete partner relationship management capabilities allow businesses to incorporate referral and selling partners that make up their extended enterprise into the same processes applied to their internal sales organizations. Partner self-service portals available in NetSuite CRM+ allow for lead sharing and registration, visibility for partners into sales converted from their leads, and the ability to act as the "front line" when it comes to providing support and service for joint customers.
"NetSuite gets it. The release of NetSuite CRM+ shows me that NetSuite understands how 21st century business works," said Paul Greenberg, author of CRM at the Speed of Light: Essential Customer Strategies for the 21st Century; 3rd Edition. "When you have customer data populating an enterprise value chain that links the demand, supply and support chains, you have the means to identify and support the processes that the customer and the company needs in the digital age. That is the paradigm around which NetSuite CRM+ is organized – the customer, not just the data. This is leading edge stuff."
"CRM has been a misnomer because today's hosted CRM applications are not designed to handle real customer data. They have been designed to handle prospect data," said Zach Nelson, CEO of NetSuite. "NetSuite CRM+ for the first time puts the ‘C' in CRM."
"We switched to NetSuite because salesforce.com didn't have the extra features NetSuite has, including order management," said Fabrice Cancre, CEO, U.S. Operations, R/D Tech Corp. (www.rd-tech.com), a manufacturer and distributor of testing equipment and headquartered in Waltham, MA. "We have gradually increased our NetSuite usage to our 100-plus member distributed sales team. We can create quotations and sales orders, and measure the forecast by product and service offered - something we couldn't do with salesforce.com. We're continually deploying more NetSuite features and are planning to use even more of the advanced CRM+ features NetSuite is offering, as well as extending the Suite to our international offices with the upcoming release of NetSuite 11.0."
Leveraging the award-winning forecasting, contact management, opportunity management, and customization of NetSuite CRM, the new NetSuite CRM+ goes beyond traditional CRM capabilities by adding broad functionality never before seen with a CRM application including: