NETSUITE ANNOUNCES MAJOR PUBLIC COMPANY CUSTOMER WINS
Public Companies Replace Traditional Software with Integrated, On-demand Application NetSuite Solution
NetSuite's Single ERP/CRM Solution Eases Sarbanes-Oxley Compliance
SAN MATEO, CA,—June17, 2004—NetSuite,
Inc., today announced more than 30 publicly traded companies
have chosen NetSuite to automate their business. These
new customer wins have standardized on NetSuite to run
their front and back-office, and many ecommerce operations.
For more information about these companies, please visit
NetSuite's product offerings include NetSuite, NetERP,
NetCRM, and Oracle® Small Business Suite. The Oracle
Small Business Suite name is used under license from
Oracle Corporation (NASDAQ: ORCL).
One commonality companies have prior to implementing
NetSuite is that they all use disparate software applications
to run their business—one for financials, one
for sales, one for customer service and support, one
for inventory management and one for marketing. Frustrated
with the cost and complexity of using different software
packages, these companies chose NetSuite as the one
solution to automate their business operations so that
data moves seamlessly across departments. Additionally,
NetSuite's advanced customization technology gives
them the ability to tailor NetSuite to meet their specific
needs. Also, because it is an on-demand, Web-based service,
NetSuite eliminates the pain of managing, upgrading
and maintaining traditional software.
In particular, new government regulations such as Sarbanes-Oxley
(SOX) make fragmented business management systems even
more costly and problematic. AMR Research estimates
that corporations will spend $5 billion (U.S.) on SOX
compliance in 2004. According to a white paper sponsored
by Microsoft Corp., the top challenge facing companies
seeking to comply with Sarbanes-Oxley is "Multiple,
nonintegrated CRM/ERP/MRP/SCM/Project Accounting System."
(Source: "Sarbanes-Oxley: The role of MBS Technology
in Supporting Compliance," www.microsoft.com).
NetSuite, with its single integrated ERP/CRM solution
eliminates the difficulty of compliance with SOX, as
a company's business processes are well documented within
the application itself. As well, NetSuite tracks a full
audit trail for every action taken in the system, from
scheduling a meeting to invoicing a customer. Such rich
audit trails are an important element of maintaining
"Companies embrace NetSuite as a single application
to run their business because it lowers cost, improves
customer service, and delivers business intelligence
in real-time," said Zach Nelson, CEO of NetSuite.
"As larger, public companies begin to leverage
NetSuite, they find that it makes the job of Sarbanes-Oxley
compliance much easier to document and much less expensive
Document Sciences Corporation (NASDAQ: DOCX) delivers
real-time, interactive content processing services that
content-driven organizations depend on to realize productivity
benefits, cut costs, and increase competitiveness. Approximately
650 customers worldwide use Document Sciences products
in insurance, banking and financial services, managed-care,
telecommunications, utilities and commercial print service
bureaus. Customers include more than 60 Fortune 500
companies. Based in Carlsbad, Calif., with regional
locations across the U.S. and a European subsidiary
in Paris, Document Sciences also markets its products
in Australia, Canada, New Zealand, Brazil, Mexico and
China. For more information about Document Sciences
Corp., visit www.docscience.com.
"Before NetSuite we would have to go through three
different spread-sheets to establish what exactly was
happening in our global sales pipeline," said
David Barker, Director of IT for Document Sciences.
"Now, not only do we have all the necessary information,
but we can customize its presentation according to our
needs and view it in real-time."
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