NETSUITE AND SQUARE PARTNER TO OPEN NEW CLOUD FRONTIER
NetSuite SuiteCommerce Platform to Support Square Register, Bringing Next-Generation iPad-Based Point-of-Sale to Merchants
NetSuite SuiteWorld 2012, SAN FRANCISCO—May 15, 2012—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced that Square, the company revolutionizing millions of everyday transactions between buyers and sellers, has teamed up with NetSuite as a technology partner to help reinvent commerce. Square's Register application for iPad streamlines checkout, tracks sales, and makes it easier for businesses to communicate with their customers. Through the Square/NetSuite partnership, merchants have the opportunity to pair Square Register and the NetSuite cloud commerce solution for a seamless and secure POS system that provides merchants with a comprehensive understanding of their customers, transactions, and financials.
Square Register is designed to give businesses quick and effective tools to increase revenue and manage their business. With NetSuite's Commerce as a Service (CaaS) initiative and NetSuite SuiteCommerce, a new commerce-aware platform, businesses have a central system to manage all transactions with consumers and other businesses regardless of touch point, including POS, website, smartphones, tablets and social media. Through the integration of Square and NetSuite, merchants will have complete cloud financial and CRM capabilities. They will record transactions with individual customers and build rich customer profiles to deliver a personalized, customer-centric experience across any channel, offering products and services tailored to their customers.
"Square is transforming payments, on both sides of the counter, with mobile technology. An excellent example of Commerce as a Service in the cloud," said NetSuite CEO Zach Nelson. "Our partnership opens new frontiers for merchants to simplify card transactions while managing interactions directly on top of the world's most widely used cloud business management system."
"Square helps merchants grow and manage their business," said Keith Rabois, COO at Square. "Working with NetSuite enables us to better serve our largest merchants and now support businesses of any size."
Square is revolutionizing millions of everyday transactions between buyers and sellers with its free credit card reader for iPhone, iPad, and Android devices. Square for iPad serves as a full point of sale system for businesses to accept payments, track inventory, and share menu and location information. Square Card Case is the most seamless way to pay, enabling individuals to pay with their name at their favorite local merchants, discover nearby businesses, explore menu listings and store receipts. Founded in 2009, and headquartered in San Francisco, Square is currently available in the U.S. More information is available at squareup.com.
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NOTE: NetSuite and the NetSuite logo are service marks of NetSuite Inc. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between NetSuite and any other company.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements relating to expectations, plans, and prospects including expectations relating to future demand for cloud computing solutions and expected benefits of the NetSuite/Square cloud offerings. 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, failure of Commerce as a Service or SuiteCommerce to meet customers' business plans or projections, risks or delays associated with implementation or integration to the NetSuite cloud offerings, and material defects or errors in the software or undetected computer viruses could arise and impact operations. 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.