Demand for Pure Cloud Financial System Fuels Rapid Growth in EMEA, APAC, North America
SAN MATEO, Calif.—April 28, 2014—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that it is the fastest growing financial management system (FMS) vendor on a global basis in 2013, according to calculations performed by NetSuite with data from the Gartner report, "Market Share: All Software Markets, Worldwide, 2013," published on March 28, 2014. According to the report data calculations, NetSuite is the fastest growing FMS within the top 10 by market share and the only pure cloud software provider among the top 20 FMS vendors on a global basis.
NetSuite demonstrated significant market share gains on many metrics, according to Gartner's latest market share research on Financial Management Systems in 2013. They include:
"We believe this research is clear and concrete evidence of NetSuite’s accelerating global growth and the worldwide demand for cloud ERP," said NetSuite CEO Zach Nelson. "Our continued momentum in North America, EMEA and APAC is helping to demonstrate the transformative power of the cloud for businesses everywhere."
Gartner is expecting growth of 7 percent overall for the financial management systems market in 2014 globally, including on-premise and cloud-based solutions. For cloud-based FMS only, Gartner forecasts total software revenues to grow close to 30 percent in 2014 (Source: Gartner, "Forecast: Enterprise Software Markets, Worldwide, 2011-2018, 1Q14 Update," March 14, 2014).
Today, more than 20,000 companies, organizations 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 ERP suites for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. NetSuite continues its success in delivering the best cloud ERP/financial suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.
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