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NetSuite for Software CompaniesTransforming Your Business With Cloud NetSuite
Software Companies are Key to NetSuite’s Success
“NetSuite currently has over 750 software companies running its software and even those selling competing solutions have indicated to us that NetSuite has become tough to beat in this vertical.”
Patrick Walravens, Sr. Software Analyst & Head of Technology ResearchJMP Securities, LLC
Who is NetSuite?
10,000+ organizations
3 years in a row named the fastest growing Financial Management Solution by Gartner
Grew revenues 25% over past 2 years
Leading provider of SaaS ERP solutions for Software companies
Top 10 Cloud Companies to Watch
Fastest Growing Top 10 FMS Vendor
Founded 1998
Public, NYSE: “N”, since 2007
Largest fully integrated public SaaS company
Offices in 8 countries
$190M+ revenue, 1000 employees
#1 Cloud Business Suite
Recognition
Background
High Growth
NetSuiteERP
4
Challenges facing Software Companies
Pain Business Requirements Solution Implications
Lack of timely financial reporting
Accurate, real-time financial reporting
• Real-time financial reports• Granular drill down and visibility
into cash management
Ensuring adherence to key financial standards
Efficiently manage the entire accounting process
• Complete coverage across all major accounting processes – Order to Cash, Purchasing, Expense Management
• Accelerate the financial close
Complex revenue recognition
Support the latest revenue recognition requirements
• Complete support for all key revenue recognition standards
• Automated revenue calculation
Lack of global visibility Real-time reporting across all key business locations
• Real-time role-based dashboards• Global financial consolidations
Effectively managing recurring revenue
Automate the renewal process • Complete control of the renewals process
• Manage billing for subscription and maintenance streams
Lack of a 360 degree view
Single customer record across sales, marketing and finance
• Finance and sales integration• Advanced quote management• Cross-sell and up-sell
management
NetSuite Delivers Benefits to the Bottom Line
Improvement area Business Result
IT Savings Moving from on-premise applications to NetSuite eliminated an average of $23,000 in software license maintenance costs per year, with a high of $50,000. IT staff savings for those companies ranged from 50 percent to 65 percent of total IT time.
Revenue Recognition (Finance)
Improved revenue recognition from NetSuite provided both increased productivity and reduced risk
Financial Close (Finance) NetSuite enabled customers to accelerate their time to close the books by an average of 60 percent.
Quote to Cash (Finance) NetSuite’s automated quote-to-cash functionality enables our customers to reduce quote to cash time by 50 percent.
Audit Time (Finance) Reduction in audit preparation time by at least 50 percent
Source: Nucleus Research
Transition Mature CompanyScalable Startup
NetSuite is the #1 choice for 21st century software companies
NetSuite is Committed to Making Software Companies Successful Vertical Focus on Software Companies
− Dominant position in the marketplace with 800+ software companies as customers
− Dedicated Sales, Implementation Specialists, Support, Product Management and Executives
− Established Best Practices
Software Specific Functionality
− Revenue Recognition (EITF 08-1 & 09-3), Contract Management, Renewals, SOX Controls
− Time & Expense/Project Management, Issue Tracking, Fulfillment/Delivery
Choice of 21st Century Software Companies
− Successful public companies including Solarwinds, RightNow Technologies, Convio, Financial Engines, CornerstoneOnDemand, LogMeIn, and Successfactors
− The next generation of not yet public companies including over 33% of the Hot 100 and AlwaysOn with companies such as Eloqua, Splunk, BazaarVoice, and Jive
NetSuite runs on NetSuite!
The World’s Fastest Growing Software Companies Powered by NetSuite
Fastest growing company in the world goes live on NetSuite in 15 countries in 8 weeks and 26 countries in 3 months
Was able to achieve ROI with NetSuite in less than three months
Saves $250K+ annually by consolidating more than 12 subs with NetSuite OneWorld
Transitions to NetSuite prior to its recent successful IPO
Running NetSuite OneWorld in 15 locations across 7 countries for global consolidation
RMDM Unit using NetSuite OneWorld Ecommerce across its 13,000+ partners
Can NetSuite Help Your Software Company?
www.abvt.com.au
© NetSuite 2011 10
