NETSUITE VERSION 11.0: HOW SUITE IT IS FOR THE MID-MARKET
Version 11.0 Takes AJAX Beyond Navigation and into Functional Product Areas
New "SuiteScript" Breaks the Final Customization Barrier — Business Process Customization
NetSuite Adds Vertical Suites for Mid-Sized Wholesale/Distribution and Services Companies
SAN MATEO, Calif., — April 6, 2006 — NetSuite, Inc., the leader in on-demand business software suites, today launched NetSuite Version 11.0, bringing a host of advanced features that takes "Software as a Service" (SaaS) business applications well beyond stand-alone CRM and into the core operational systems of mid-sized companies. While NetSuite Version 11.0 contains hundreds of new features, three major elements break ground in on-demand applications:
For more information about NetSuite 11.0, please visit www.netsuite.com/11
"Version 11.0 blows away the conventional wisdom that SaaS applications are simple point solutions that can't meet the needs of complex businesses," said Zach Nelson, CEO of NetSuite. "With this release, NetSuite provides the functionality and customization required by mid-sized organizations. As importantly, our advances in AJAX user interface design make NetSuite by far the easiest to use and most productive Web-native application."
The mid-market software application arena is incredibly fragmented, both from a vendor perspective and from a customer-usage perspective. Unlike the enterprise market where broad business suites from SAP and Oracle control the majority of the market, the mid-market has no dominant platform, as companies such as Microsoft and Sage have only small market share. From a customer usage perspective, mid-sized companies have had to operate separate, fragmented software packages to run their businesses — one for accounting, one for sales force automation, one for customer support and service, one for marketing, and one for warehousing. Even though software vendors try to integrate their stand-alone offerings with other point solutions using APIs, XML and Web services, the patchwork approach can, at best, be integrated only on a rudimentary level. However, analysts report that small and mid-sized enterprises (SMEs) are now undertaking the same business application transition that Fortune 1000 companies have recently completed. That is, they are moving from cobbled together, stand-alone software solutions to an integrated suite to manage core business operations.
As a SaaS pioneer, unlike other on-demand software companies that repeat the past by creating stand-alone point product applications, NetSuite was founded with the vision of delivering a complete, on-demand suite of applications to SMEs. As the first on-demand business suite available, NetSuite's introduction of NetSuite Version 11.0 brings to growing businesses the power of applications previously available only to the world's largest companies.
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