Press Releases


Contact:

Mei Li
Senior VP
Corporate Communications
NetSuite Inc.
Phone: 650.627.1063
E-mail: meili@netsuite.com

NETSUITE 10.0 MAKES CRM FANTASIES A REALITY

NetSuite Upsell Manager Automatically Generates New Sales Opportunities Based on Order History

NetCommerce Analytics Tracks Prospect-by-Prospect Web Behavioral Data

Hundreds of Features Extend Advanced Capabilities to Companies Large and Small

San Mateo, Calif.—October 14, 2004—NetSuite, Inc., today announced NetSuite 10.0, delivering new capabilities that have never before been available in a business application—whether delivered as an Internet service or an on-premise solution. NetSuite 10.0 builds on its unique order management functionality by offering NetSuite Upsell Manager, an intelligent agent that automatically mines a customer's database of purchase transactions to suggest cross-sell/upsell opportunities. NetCommerce Analytics, also new in NetSuite 10.0, for the first time allow sales and support professionals to see a prospect's or customer's actual Web site activity, giving them rich, instantaneous insight into their wants and needs. NetSuite 10.0 also includes myriad new additions to its industry-leading dashboards, making NetSuite the easiest-to-use application suite available. These major advances and hundreds of others that are included in NetSuite 10.0 will make it easier than ever for customers to know more about their prospects and as a result sell more. For more information about NetSuite 10.0 please go to www.netsuite.com/version10.

"Amazing things happen when companies move from fragmented silos of customer information to one system that provides a single view of all customer interaction. The One System architecture of NetSuite 10.0 enables it to go beyond a 360-degree view of the customer to actually anticipate customers' needs and desires," said Zach Nelson, CEO of NetSuite. "The more you know about your customers, the better you are at selling and servicing them. Knowing what they have bought—and what other companies like them have bought—is critical for cross-sell and upsell. Knowing what they are doing on your Web site provides crucial intelligence into their interests. NetSuite's unique order management and ecommerce capabilities make possible features about which customers have only been able to dream."

For more than a decade, CRM vendors have promised a "360? view of the customer"—allowing visibility into every interaction from communications to support calls to purchase history. In reality, stand-alone CRM systems have failed in this goal largely because they are designed to manage data related to internal sales processes (such as generating a forecast ), while the vast majority of actual customer data (such as customer purchase history) resides in separate systems. In addition, CRM systems treat a company's Web site and Web store as afterthoughts, a major failing given customers' desire to treat vendors' Web sites as the primary point of interaction.

NetSuite solves these problems with its One System architecture that allows CRM, ERP and ecommerce processes all to be managed in a single database. NetSuite 10.0 extends this approach by adding hundreds of new capabilities, including several ground-breaking "first and onlys:"

  • NetSuite Upsell Manager: Software That Asks "Would you like fries with that shake?"
    Order management is the key to providing a true 360-degree view of the customer, and NetSuite has long been the only system that natively tracks customer purchase history. NetSuite Upsell Manager automatically suggests products and services that a customer is likely to purchase based on statistical intelligence gained via analysis of aggregate customer purchase history stored within NetSuite. In NetSuite 10.0, each customer and opportunity record have a new tab which suggests the products/services a sales rep should offer based on this automated, actionable intelligence. In addition, marketing personnel or individual reps can leverage this intelligence to create cross-sell campaigns targeted at customers identified by NetSuite Upsell Manger as having a high likelihood to purchase products or services.
  • NetCommerce Analytics: NetSuite's Big Brother is Always Watching.
    With the growth in Internet usage, customers' expectations have changed. They desire and in many cases assume—a company's Web site will be the "system of record" when interacting with a vendor. While CRM systems are not designed to support ecommerce, NetSuite has led the industry in making selling on the Web as easy as selling in person. NetCommerce Analytics takes this capability to the next level. Unlike generic Web reporting tools which provide aggregate analysis on number of page hits or most popular pages, NetCommerce Analytics can provide such data on a customer-by-customer basis. Even more powerful, NetCommerce Analytics also track click-stream data on a user-by-user basis, so that sales representatives can see the most recent activity of a client or prospect on a Web site as easily as they can log a phone call.
  • NetSuite 10.0 Dashboards: What You Track is What You Get.
    While many companies now promote dashboards, they are only as good as the data that underlies them. As NetSuite tracks every interaction between a vendor and their customers, NetSuite's patent-pending dashboards deliver much richer information in real-time than any system available. New in 10.0 are a variety of new best practices, key performance indicators and report snapshots (including such hard-to-get data as keyword conversion to purchase); flexibility to publish dashboards to specific users; and the ability to deliver external Internet content directly to a user's dashboard via RSS, a first in a business application.

"One of the great benefits of having CRM integrated from the front office, through the back office and online with ecommerce, is that companies finally get a true 360° view of the customer," said Yankee Group CRM Project Manager Sheryl Kingstone. "The real goldmine here is the resulting intersection of technology and data: actionable insight. Companies can capitalize on this actionable customer intelligence to sell more—and the customer actually gets more of what they truly want and need. That's the win-win that CRM should be striving to achieve."

"Our Corporate Solutions team looks forward to how NetSuite 10.0 can help us move our business more efficiently and manage our clients better than ever before," said Bill Vetter, GM Corporate Sales, North America, Weight Watchers (www.weightwatchers.com). "Our corporate account managers located across North America are enthusiastic that client information is now available around the clock, and they can schedule events and manage the entire sales cycle from lead to prospect to customer, from wherever they are at any given time."

Pricing and Availability
NetSuite 10.0 is available now and includes the NetSuite Upsell Manager at no additional charge. NetCommerce Analytics is sold as an add-on module, priced at $199/month.