NetSuite SuiteWorld 2011, SAN FRANCISCO—May 10, 2011—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, announced today the launch of NetSuite Unlimited—the first and only cloud-business suite designed specifically for the ERP needs of the world's largest and fastest-growing companies. Responding to mounting demand from the CEOs, CFOs, and CIOs of top global institutions, NetSuite Unlimited offers expansive and unlimited access to the rich resources of NetSuite's cloud business-management suite. NetSuite Unlimited removes the limits around number of users, subsidiaries, add-on modules and third party SuiteApps to enable global businesses to grow, expand and optimize operations void of the typical on-premise software pains of high implementation and maintenance costs, delayed rollouts, version lock, and lack of global integration and visibility. Cloud deployment with NetSuite Unlimited delivers the benefits of 21st century ERP advanced functionality for large enterprises in just weeks not years. For more information about NetSuite Unlimited, please visit http://www.netsuite.com/unlimited.
NetSuite Unlimited responds to the growing reality that cloud computing is a global technology priority at the highest levels of business. A study by Gartner shows that over 2,000 CIOs have identified cloud computing as a priority for 2011. IDC forecasts that enterprises with over 1,000 employees will account for over 43 percent of the total cloud market by 2014, and that such large enterprises will turn to cloud solutions at a rate six times higher than that of conventional, on-premise software. NetSuite is perfectly positioned to capture that growth—according to Gartner market share data, NetSuite is gaining financial management solution market share faster than any on-premise enterprise alternative.
"There is no question that the cloud is big business, and big business needs the cloud," said Zach Nelson, NetSuite CEO. "NetSuite Unlimited combines the agility and flexibility of the Cloud enjoyed by mid-size businesses with the power of traditional large enterprise systems, allowing the world's largest companies to be more agile and innovative."
"Deploying cloud ERP in large enterprises requires an extensible solution offering flexibility, speed, and cost savings," said Paul Daugherty, Accenture Chief Technology Architect. "Together, Accenture's unmatched industry expertise and NetSuite's proven cloud ERP leadership are accelerating the power of NetSuite Unlimited and paving the way forward for global enterprises."
NetSuite Unlimited is already in use at next-generation global enterprises such as Groupon (see accompanying release: NETSUITE ONEWORLD POWERS GROUPON'S GLOBAL HYPER GROWTH). By eliminating price and customization complexity, NetSuite Unlimited creates a natural path for large companies seeking an exit strategy from the high-cost, inflexible on-premise ERP systems of the past.
Instead of facing costly rollouts of 12 to 18 months just to upgrade or harmonize global ERP, NetSuite Unlimited enables worldwide businesses to deploy and fully consolidate business entities in as little as three weeks. Whether a company is growing organically, through mergers and acquisitions, or simply needs to modernize its ERP systems as part of its technology buying cycle, NetSuite Unlimited is available immediately and delivers robust and virtually unconstrained functionality:
For more information about NetSuite Inc., please visit www.netsuite.com.
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Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements relating to expectations, plans, and prospects including expectations relating to the future growth of the cloud computing market. 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 including, without limitation, the risk of continued adverse and unpredictable macro-economic conditions or reduced investments in on-demand applications and information technology spending. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and NetSuite disclaims any obligation to update these forward-looking statements.