AUSTRALIAN SOFTWARE LEADER MYOB TO DISTRIBUTE NETSUITE TARGETING MEDIUM-SIZED BUSINESSES
MYOB-Branded Version of NetSuite Provides On-Demand Application Suite to Growing Companies in Australia and New Zealand
SAN MATEO, Calif., — June 24, 2005 — NetSuite, the leader in on-demand business management software, today announced a partnership to distribute NetSuite to medium-sized businesses in Australia and New Zealand with MYOB (ASX: MYO), a developer of small-medium business management software. NetSuite will be co-branded as MYOB NetSuite and will be sold to end-user companies via MYOB's extensive distribution network.
The selection of NetSuite as MYOB's mid-range solution represents a strategic move by MYOB in the mid-market with an on-demand service. The offering will be delivered in partnership with Net Return (see accompanying release "MYOB Strengthens Mid-market Position in Partnership with Net Return"), NetSuite's distributor in Australia and New Zealand. For more information about NetSuite and NetSuite CRM+, visit: www.netsuite.com/myob.
MYOB is the leading supplier of business management solutions to small-medium businesses in Australia and New Zealand. In Australia, MYOB accounts for 67 percent of the back-office software market according to the GfKGroup. With the growing demand for Web-based services such as NetSuite, MYOB decided to partner with the leading on-demand software vendor to provide its customers an alternative once they out-grow existing "self-managed" applications. NetSuite is the only major application service provider to deliver its applications locally from an Australian data center, providing more security and higher performance for local customers.
MYOB will offer NetSuite's namesake product that integrates CRM, ERP and eCommerce. In addition, it will offer the company's powerful NetSuite CRM+ offering for existing customers seeking an on-demand CRM solution. Having established its market leadership in the on-demand business software category, NetSuite has thousands of customers globally, and the company's products have won numerous industry accolades including No. 12 in the Inc.Magazine 500 (NetSuite was ranked Silicon Valley's fastest growing on-demand software company); PC Magazine's Technical Excellence Award, and the Codie Award for "Best Software Service" by SIIA (Software & Information Industry Association).
"We are making a big commitment to serving medium-size businesses with an on-demand service," said Craig Winkler, CEO of MYOB. "By partnering with NetSuite, we have the best on-demand application suite to offer to our new and existing customers."
"With this partnership, we will be able to reach out to thousands of small and medium businesses in Australia and New Zealand," said Zach Nelson, CEO of NetSuite. "MYOB will play an important role in propagating on-demand integrated business solutions in Australia and New Zealand, which will accelerate the adoption of on-demand applications globally."
Owner-operated businesses are the most dynamic force in the world economy and yet they are universally challenged by limited resources. MYOB uses its knowledge, expertise and scale to help them build better businesses.
MYOB also works directly with accounting practices to streamline their processes and maximise their productivity. MYOB solutions are used by leading accounting practices from tax agents and sole practitioners to the 'Big 4' firms.
Through its understanding and partnership with both business owners and accountants, MYOB strives to further enhance the links between them for their mutual benefit. MYOB Limited is a public company listed on the Australian Stock Exchange (ASX symbol 'MYO').