SVP, Corporate Communications
Leading Industry Analyst and NetSuite Customer Knightsbridge to Explore What's Driving Cloud Growth and How Businesses Are Leveraging These Trends to Fuel Business Growth
SAN MATEO, Calif.—October 21, 2013—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced a webinar titled "The Top 5 Cloud Adoption Trends Transforming Today's Business Operations," that will explore the rapid growth in cloud-based Software-as-a-Service (SaaS) applications and how businesses are leveraging cloud business management systems to speed growth, expand market share, increase business visibility, reduce IT and operational costs and improve top-line revenue. The business benefits that organizations are deriving from cloud applications are a key factor in increased spending on cloud IT services, which research and analyst firm IDC predicts will soar at a compound annual rate of 26.4 percent between 2012 and 2016, 5x greater than the IT industry overall.
The webinar, scheduled for Tuesday, October 22, will feature insights and analysis from IDC's Robert Mahowald, Research Vice President, SaaS and Cloud Services, on the top five cloud adoption trends that are helping businesses operate more efficiently and effectively across a wide variety of industries. Participants will also hear Victoria Davies, CFO of Knightsbridge Human Capital Solutions, a services and solutions provider in the HR field, outline how her firm has improved business efficiency and visibility since implementing NetSuite in February 2010 for global subsidiary management, multi-currency transactions, professional services coordination, real-time financial reporting and more. To learn more about the webinar and to register, click here.
During the webinar, Mahowald will share new IDC survey findings on cloud adoption and highlight key trends including:
Cloud is the foundation for the "third platform" of enterprise computing. The cloud third platform will drive IT spending and decision-making over the next 20 years.
SaaS is vertical and industrial. A huge growth area in the next 10 years is non-technology firms using SaaS to enable their factories, hospitals, warehouses and the "Internet of things."
The pace of cloud adoption across company sizes is accelerating. IDC's recent CloudTrack survey highlights how mid-size and large enterprises now think in cloud terms for both replacing existing on-premise applications or extending them by using a two-tier strategy.
The new back-office is in the cloud. While cloud is becoming the only way to get high performance and scale from transactional and B2B and B2C front-office functions, it is the back office where cloud's impact is felt most strongly.
Data gravity and platform-centricity trends indicate customers are looking to consolidate more workflows and back-office activity. Customers cannot put up with the enterprise application integration hairball and are looking to SaaS companies that can offer a suite of business applications.
Today, more than 16,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-class cloud financials/ERP suites for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations as demonstrated in a recent Gartner study naming NetSuite as the fastest growing financial management software vendor on a global basis. NetSuite continues its success in delivering the best cloud ERP/financials suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud is accelerating.
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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 IT services market. These forward-looking statements are based upon the current expectations and beliefs of NetSuite's management as of the date of this release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements including, without limitation, the risk of continued adverse and unpredictable macro-economic conditions. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and NetSuite disclaims any obligation to update these forward-looking statements.