NETSUITE RANKED FASTEST GROWING FINANCIAL SOFTWARE SOLUTION IN AUSTRALIA/NEW ZEALAND
NetSuite Grows 83% While SAP Growth Rate Declines 2% and Microsoft Stays Flat
NetSuite Surpasses 600 Customer Mark in Australia/New Zealand
SYDNEY, 14 October 2010—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / enterprise resource planning ERP software suites, today announced that results from a recent Gartner study positioned NetSuite as the fastest growing financial software solution in the Australia market. According to the Gartner study, from 2007 — 2009, NetSuite grew market share in Australia by 83 percent which vaulted the company onto the list of the top 10 Financial Management Systems (FMS) vendors by revenue. NetSuite is not only the fastest growing financial software vendor in the region, but also the only vendor offering a true cloud financial suite solution to Australian companies. By contrast, over the same period, SAP's growth rate declined 2 percent and Microsoft’s growth rate was flat according to the Gartner study.
NetSuite also announced that more than 600 Australian and New Zealand companies have selected NetSuite cloud solutions to manage their business. This milestone signifies how pervasive the power of cloud computing has become in the Australian and New Zealand markets, as companies choose to move away from expensive on-premise legacy systems and embrace NetSuite to transform organisational processes and slash IT spending.
Australia and New Zealand are two of the fastest-growing markets for cloud computing and NetSuite is accelerating its growth and expanding its footprint in this region.
The rapid adoption of cloud solutions by Australian and New Zealand businesses is expected to continue. Research from Springboard Research released in August revealed that 45 percent of enterprises in Asia Pacific, excluding Japan, are either currently using or planning Cloud initiatives, up from 22 percent in 2009. According to Springboard, APAC companies will spend nearly US$2.3 billion on cloud solutions by 2012. In fact, 45 percent of APAC companies already use, or plan to use, cloud solutions—a figure which doubled in just one year.
NetSuite's cloud computing solutions are in use today at thousands of companies worldwide. NetSuite's offerings, which include the multi-national corporate management solution NetSuite OneWorld and NetSuite OpenAir professional services automation, are in use in 14 languages in more than 60 countries. Companies in Australia and New Zealand are increasingly selecting NetSuite over legacy on-premise solutions due to the flexibility of the cloud, the ease of deployment in branch and remote offices, the clear path to seamless multi-national operations, and the elimination of high-cost servers and IT support.
"This milestone celebrates just the first act in the story of NetSuite's success in Australia, New Zealand and beyond," said Chris Schafer, APAC Managing Director of NetSuite. "We are encouraged to see Australian and New Zealand businesses increasingly reject the complex, costly hairballs caused by inefficient, overlapping on-premise solutions, in favour of the simplicity, elegance and power of the NetSuite cloud."
Customers Enjoy Benefits of the Cloud: Standout ROI, Clearer Insights, Smoother Processes
Across Australia and New Zealand NetSuite continues to be a leading choice for companies seeking to move key business operations painlessly to the cloud and leverage the potential of cloud computing to lower costs, streamline key business processes, and boost productivity and competitiveness.
Virgin Money Australia (www.virginmoney.com.au), a division of the financial services arm of Virgin Group Australia, has consolidated its subsidiary businesses onto the NetSuite OneWorld platform. Because NetSuite OneWorld was built from the ground up to incorporate ERP, CRM and Ecommerce and to support multiple subsidiaries, business units and legal entities, it was the perfect fit for Virgin Money Australia. NetSuite OneWorld has enabled Virgin Money Australia to bring an outsourced accounting function in-house, resulting in more robust reporting and efficient financial processes. The flexibility of the NetSuite solution supports the integration of new product lines, users and subsidiaries, without large capital outlay. "NetSuite's flexibility is key, especially for a rapidly evolving business like Virgin Money," said Andy Sampson, Financial Controller at Virgin Money Australia. "It gives you a system that can adapt to fast-moving changes, and allows companies to grow — and succeed."
BearingPoint (www.bearingpoint.com.au), a leading management and technology consulting firm, uses the NetSuite OpenAir professional services automation solution (PSA) to consolidate multiple business systems into one and streamline its service delivery processes. BearingPoint has reduced its dependency on Microsoft Project and Excel and replaced its legacy timesheet application, and is now realising significant benefits through more accurate and timely visibility of staff utilisation and its opportunity pipeline. "As the only available SaaS PSA solution to provide the resource management capabilities to match our needs, we knew that NetSuite OpenAir could help us achieve rapid implementation and automation with minimal infrastructure dependencies," said Paul Brooke, Operations Manager at BearingPoint. "NetSuite OpenAir exceeded expectations and our initial implementation was up and running in two months."
NetSuite Builds Regional Footprint with Accelerating Customer Wins
Australia's and New Zealand’s innovation and efficiency-minded companies continue to flock to NetSuite's cloud solutions for greater transparency, superior remote access, and dramatic productivity gains. Among the companies recently selecting NetSuite solutions are:
Parrimark Technology (www.parrimark.com), an Australian software company, needed to resolve efficiency, collaboration and fragmentation issues across five sites on four continents. By switching from Microsoft SharePoint, MYOB and a proprietary CRM system to NetSuite OneWorld for financials, project management, development and CRM, the company has seen immediate improvements across the board, including its customer support, sales and marketing efforts. Parrimark has reduced internal email by 65 percent, made a fundamental shift in the way project teams collaborate and secured a 32-percent employee efficiency gain, including time previously spent performing software updates and general system support. Management saves time and has gained new levels of control and insight thanks to real-time reporting and KPIs on dashboards. "With our multiple sites, and a high proportion of remote staff, we're able to connect from anywhere with NetSuite," said James Pegum, Parrimark CEO. "The dividends are ongoing and we are always improving the way the team uses the system."
Tree of Life (www.treeoflife.com.au), an innovative fashion retailer, has transformed its business using NetSuite financials, email, CRM and point of sale. The company's previous system required a complex and under-performing VPN, and Tree of Life was hampered by data replication and integrity issues as well as the logistical challenge of rolling out software upgrades to its 60 outlets across Australia. Managers lacked access to real-time business performance information, and the company struggled without a central solution which could aggregate transactions seamlessly from multiple branches, multiple time zones, and multiple suppliers. NetSuite provided the answer in short order. “In one morning I deployed our four West Australian sites on my own remotely from Sydney. I don't know of any other system you can do that with," said Krishnan Borthwick, Tree of Life IT Director. "Using NetSuite has allowed us to concentrate on what's important, secure in the knowledge that NetSuite has created a strong and reliable system that minimises any input we need to have into that side of the operation."
Other Australian and New Zealand organisations which are transforming their businesses with NetSuite OneWorld include professional services company CXC Global, health education services provider Triple P International, and retailer Chefs Toolbox.
About NetSuite — www.netsuite.com
NetSuite Inc. is a leading vendor of cloud computing business management software suites. NetSuite enables companies to manage core key business operations in a single system, which includes Enterprise Resource Planning (ERP), Accounting, Customer Relationship Management (CRM), and Ecommerce. NetSuite's "real-time dashboard" technology provides an easy-to-use view into up-to-date, role-specific business information.
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 to the future growth of the cloud solution market in the APAC region. 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 or than it has in the past; or continued adverse and unpredictable macro-economic conditions or reduced investments in on-demand applications and information technology spending. 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 most recently filed Form 10-Q and 10-K available at the Company's website or from the SEC.