Industry Recognition Builds on Strong Momentum for NetSuite's SuiteCommerce Cloud-Based Platform for B2C and B2B Commerce
SAN MATEO, Calif.—August 6, 2014—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that its SuiteCommerce platform has been named a "Leader" by the research and analyst firm IDC in the IDC MarketScape: Worldwide Digital Commerce Applications 2014 Vendor Assessment (doc #249597, June 2014).
The report assesses vendors in the digital commerce applications market, which IDC predicts will grow at an 18.8 percent compound annual growth rate for the period 2013-17, to reach $4.1 billion worldwide. Being named a leader by the IDC MarketScape is the second high-profile industry recognition for NetSuite's cloud-based omnichannel commerce solution in the past several months. In June, SuiteCommerce received the 2014 CODiE Award for Best Commerce Solution from the Software & Information Industry Association (SIIA).
"NetSuite views commerce as a core business component of an organization rather than a standalone sales channel and has developed SuiteCommerce as a tightly integrated piece of its overall ERP for financials and other software," according to the IDC MarketScape.
NetSuite SuiteCommerce enables retailers, manufacturers and distributors to seamlessly connect every step of a multi-channel, multi-location business—from ecommerce, POS and order management to merchandising, marketing, inventory, financials and customer service. Featuring an advanced web store that allows the creation of uniquely branded and personalized shopping experiences optimized for multiple devices, SuiteCommerce empowers businesses to run across multiple touchpoints—web, brick-and-mortar stores, mobile—all from a single, unified cloud-based commerce platform that provides unprecedented visibility into a business and its customers. SuiteCommerce powers thousands of websites around the globe for such leading companies as Williams-Sonoma, Ibex Outdoor Clothing, Magellan GPS, RST Brands, EndoChoice and others. Please visit www.suitecommerce.com for more information.
"Being named a leader in the IDC MarketScape is a tremendous validation of our commitment and focus to deliver the world's best commerce platform, fully integrated with all back and front-end systems to enable seamless and relevant cross-channel experiences," said Andy Lloyd, GM, Commerce Products for NetSuite. "This recognition aligns with our strong momentum among B2C and B2B merchants turning to SuiteCommerce as a catalyst for omnichannel growth, mobile-optimized experiences and stronger, more profitable customer relationships."
About IDC MarketScape: IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
NetSuite Inc. is the industry's leading provider of cloud-based financials / Enterprise Resource Planning (ERP) and omnichannel commerce software suites. In addition to financials/ERP software suites, NetSuite offers a broad suite of applications, including accounting, Customer Relationship Management (CRM), Professional Services Automation (PSA) and ecommerce that enables companies to manage most of their core business operations in its single integrated suite. NetSuite software allows businesses to automate operations, streamline processes and access real-time business information anytime, anywhere. For more information about NetSuite, please visit www.netsuite.com.
For more information about NetSuite, please visit www.netsuite.com.
NOTE: NetSuite and the NetSuite logo are service marks of NetSuite Inc. Third-party trademarks mentioned are the property of their respective owners.
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 digital commerce applications 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 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.