Public Companies Replace Traditional Software with Integrated, On-demand Application NetSuite Solution
NetSuite's Single ERP/CRM Solution Eases Sarbanes-Oxley Compliance
SAN MATEO, CA,—June17, 2004—NetSuite, Inc., today announced more than 30 publicly traded companies have chosen NetSuite to automate their business. These new customer wins have standardized on NetSuite to run their front and back-office, and many ecommerce operations. For more information about these companies, please visit www.netsuite.com/customers. NetSuite's product offerings include NetSuite, NetERP, NetCRM, and Oracle® Small Business Suite. The Oracle Small Business Suite name is used under license from Oracle Corporation (NASDAQ: ORCL).
One commonality companies have prior to implementing NetSuite is that they all use disparate software applications to run their business—one for financials, one for sales, one for customer service and support, one for inventory management and one for marketing. Frustrated with the cost and complexity of using different software packages, these companies chose NetSuite as the one solution to automate their business operations so that data moves seamlessly across departments. Additionally, NetSuite's advanced customization technology gives them the ability to tailor NetSuite to meet their specific needs. Also, because it is an on-demand, Web-based service, NetSuite eliminates the pain of managing, upgrading and maintaining traditional software.
In particular, new government regulations such as Sarbanes-Oxley (SOX) make fragmented business management systems even more costly and problematic. AMR Research estimates that corporations will spend $5 billion (U.S.) on SOX compliance in 2004. According to a white paper sponsored by Microsoft Corp., the top challenge facing companies seeking to comply with Sarbanes-Oxley is "Multiple, nonintegrated CRM/ERP/MRP/SCM/Project Accounting System." (Source: "Sarbanes-Oxley: The role of MBS Technology in Supporting Compliance," www.microsoft.com). NetSuite, with its single integrated ERP/CRM solution eliminates the difficulty of compliance with SOX, as a company's business processes are well documented within the application itself. As well, NetSuite tracks a full audit trail for every action taken in the system, from scheduling a meeting to invoicing a customer. Such rich audit trails are an important element of maintaining Sarbanes-Oxley compliance.
"Companies embrace NetSuite as a single application to run their business because it lowers cost, improves customer service, and delivers business intelligence in real-time," said Zach Nelson, CEO of NetSuite. "As larger, public companies begin to leverage NetSuite, they find that it makes the job of Sarbanes-Oxley compliance much easier to document and much less expensive to achieve."
Document Sciences Corporation (NASDAQ: DOCX) delivers real-time, interactive content processing services that content-driven organizations depend on to realize productivity benefits, cut costs, and increase competitiveness. Approximately 650 customers worldwide use Document Sciences products in insurance, banking and financial services, managed-care, telecommunications, utilities and commercial print service bureaus. Customers include more than 60 Fortune 500 companies. Based in Carlsbad, Calif., with regional locations across the U.S. and a European subsidiary in Paris, Document Sciences also markets its products in Australia, Canada, New Zealand, Brazil, Mexico and China. For more information about Document Sciences Corp., visit www.docscience.com.
"Before NetSuite we would have to go through three different spread-sheets to establish what exactly was happening in our global sales pipeline," said David Barker, Director of IT for Document Sciences. "Now, not only do we have all the necessary information, but we can customize its presentation according to our needs and view it in real-time."
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