SVP, Corporate Communications
Mobile Expense Reporting, Self-Service Reporting, and Global Resourcing Capabilities Drive Professional Services Productivity and Performance
Innovations Further Advance NetSuite's Leadership in Cloud SRP and PSA
SAN MATEO, Calif.—November 2, 2011 —NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced a host of powerful Services Resource Planning (SRP) and Professional Services Automation (PSA) innovations to drive productivity, visibility, and global resourcing for Professional Services organizations. With new Expense Reporting for iPhone, guided self-service ad hoc management reporting and "follow-the-sun" resourcing capabilities, NetSuite OpenAir delivers even greater power to drive today's mobile, real-time and global services organizations. With NetSuite OpenAir's position as the solution of choice for some of the world's largest, most distributed services organizations, including those of global leaders such as Siemens and Software AG, these new capabilities further elevate NetSuite's PSA and SRP technology leadership. NetSuite's professional services automation software helps services organizations automate and manage key aspects of their business—from resource management to project management, marketing, skills tracking, service delivery, billing, revenue management, and driving repeat business from existing clients. For global services organizations, these solutions enable them to overcome the challenges of global services delivery, including comprehensive support for multiple languages, currencies, taxation rules, and global resource pools, as well as real-time global visibility across their entire business. Quickly realizing benefits by abandoning archaic software systems, ad hoc spreadsheets, and email lists to manage critical client projects, for the first time services organizations can fully take advantage of the dramatic cost savings, service delivery improvement and productivity benefits of cloud computing.
For three consecutive years, NetSuite has been the leader in the Professional Services Automation market per SPI Research. Companies using NetSuite's OpenAir professional services automation (PSA) and services resource planning (SRP) software are among the highest performing when evaluated side-by-side against peer organizations. According to SPI Research, NetSuite owns 20 percent of the market share, while the closest competitor has only 12 percent (Source: SPI Research 2011 Professional Services Maturity Benchmark Report). Highlights of new functionality that includes:
"These advancements deliver the vital innovations for services companies to become best-in-class," said Ed Marshall, Senior Vice President of Product Strategy, NetSuite. "We take our leadership role very seriously, closely listen to our customers, and are committed to delivering market leading innovation for services companies of every size."
Best-in-class reporting and comprehensive anytime anywhere access to applications are vital for Professional Services to succeed. A November 2011 Aberdeen Research report, "ERP in Professional Services: Managing Costs When People are the Product" found that 74 percent of leaders require real-time visibility into the status of all processes from quote to cash, while the ability for professional services organizations to access their applications over the internet was the number one technology aid for 24/7 services organizations. Professional Services organizations must rely on mobile devices to take their productivity to the next level, from accessing reports through to submitting expenses on-the-go. NetSuite's enhancements to its broadly adopted NetSuite OpenAir Mobile iPhone application provide this critical advantage to services professionals, enabling to instantly capture receipt images and submit expenses using their iPhone, while ensuring they are billed back appropriately to clients. With NetSuite OpenAir's ad hoc reporting enhancements, any services professional from the executive suite to the front line can easily create the reports they need when they need them to monitor and improve strategic and operational performance; from on-time delivery, to project profitability, to keeping a close eye on resource utilization.
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