SVP, Corporate Communications
First Cloud Solution Designed to Help International Services Organisations Replace the Hairball of Disparate Applications Stifling Growth and Productivity
Leading Companies—Lloyd's Register, Software AG, Siemens—Share Best Practices on How NetSuite Helps Manage and Grow Complex Global Services Organisations
LONDON and SAN MATEO, Calif.—July 8, 2010—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based enterprise resource planning (ERP) / financial suites, today unveiled NetSuite OpenAir, new professional services automation (PSA) and services resource planning (SRP) software for the UK and European marketplace specifically designed to help global professional services organisations automate and manage key aspects of their business—from marketing to project management, service delivery, billing, revenue management and driving repeat business from existing clients.
With this latest version of NetSuite OpenAir, international companies now have at their disposal a powerful, integrated application suite to meet the challenges of global services delivery, including comprehensive support for multiple languages, currencies, taxation rules and employee work guidelines. More than 9,200 users at Lloyd's Register, 3,500 employees at Software AG and 2,700 at Siemens today are relying on NetSuite OpenAir for project management and resource management. For detailed product information, please visit http://www.openair.com/Products/NetSuite-OpenAir.
NetSuite OpenAir addresses the unique and demanding needs of international mid-size and enterprise-class services organizations that need local, in-country control over key business processes, functions and workflows, as well as real-time global visibility across their entire business. This powerful capability enables services organizations to replace their current hairball of disparate, costly and often poorly integrated applications with an integrated suite that unifies project and resource management, project tracking and accounting, time and expense management, customer relationship management (CRM) and full enterprise resource planning (ERP) functionality.
NetSuite OpenAir for international companies is a powerful solution that has the potential to do for services businesses what SAP's R/3 software did for the manufacturing industry in the early 1990s with its pioneering work in establishing best practices for ERP.
"NetSuite OpenAir is a must have for any professional services organization trying to operate and compete on a global scale," said Zach Nelson, CEO of NetSuite. "It's a critical solution designed specifically to help international services businesses meet the challenges of global services delivery while maximizing resource utlization, operational efficiency and project profitability."
The PSA/SRP Market Opportunity in EMEA
According to IDC Research, uptake in SRP will grow rapidly, with more than a 10 percent annual growth every year through 2013. By then, the global SRP market will exceed US$3 billion. NetSuite's established customer base and value added reseller (VAR) footprint in Europe indicate a strong regional demand for cloud computing professional services solutions.
Services organisations today contend with fierce competition, global expansion challenges, intense cost reduction pressures and ever growing demands for better services from clients. In order to survive and thrive, especially in today's economic environment, services organisations have to find ways to improve productivity and efficiency, provide better services to clients, gain more agility and stay nimble while reducing costs.
"Economic and competitive pressures make SRP a must for companies with significant services revenue," said Mike Fauscette, Group Vice President of Software Business Solutions at IDC. "Siloed resources and administrative overhead are profitability killers, and SRP solutions provide the kind of proven, repeatable practices that can streamline a services organisation of virtually any size."
NetSuite's PSA and SRP solutions provide services organisations with end-to-end, automated management of the entire services lifecycle allowing them to quickly realise benefits by abandoning archaic software systems, ad hoc spreadsheets and email lists to manage critical client projects. For the first time services companies can fully take advantage of the dramatic cost savings, service delivery improvement and productivity benefits of cloud computing.
NetSuite OpenAir Functionality Overview
NetSuite OpenAir delivers the "Holy Grail" of services applications, including everything needed to run a project-based business. Today's offering for international companies leverages the power of the cloud to deliver compelling capabilities and benefits, including:
NetSuite OpenAir Customers
Major enterprise companies in the UK and Europe already reaping the benefits of NetSuite OpenAir include Software AG, Lloyd's Register, Siemens PLM Software and m62 visualcommunications. Executives from these companies appeared on stage today at NetSuite's London launch event to share their experiences using NetSuite OpenAir. Here's a brief synopsis of their experience with the NetSuite OpenAir application:
Pricing and Availability:
NetSuite OpenAir is available immediately on a worldwide basis. Pricing starts at US$49/seat/month — UK pounds Sterling 34/seat/month.
NOTE: NetSuite and the NetSuite logo are registered service marks of NetSuite Inc.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements relating to expectations, plans, and prospects including expectations relating the expected growth of the global SRP market and the potential impact of the NetSuite OpenAir PSA and SRP offerings on international services companies. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: the market for on-demand services may develop more slowly than expected; and risks associated with material defects or errors in the Company's software or the effect of undetected computer viruses. For a detailed discussion of these and other cautionary statements, please refer to the risk factors discussed in filings with the U.S. Securities and Exchange Commission ("SEC"), including but not limited to the Company's Quarterly Report on Form 10-Q filed for the financial quarter ending March 31, 2010, and any subsequently filed reports on Forms 10-K, 10-Q and 8-K. All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov or NetSuite's website at www.netsuite.com.