NetSuite

NetSuite Inc.

Type	Public (NYSE: N)
Industry	Computer software
Founded	California (1998)
Headquarters	San Mateo, California, U.S.
Key people	Lawrence (Larry) J. Ellison, Zachary (Zach) Nelson (CEO), Evan M. Goldberg (Chairman/CTO) David Downing (CMO)
Products	NetSuite NetSuite OneWorld NetSuite CRM+ NetSuite Platforms include NS-BOS
Revenue	US$166 million (2009)[1]
Operating income	(US$23.5) million (2009)[1]
Net income	(US$23.3) million (2009)[1]
Employees	1200+ (September 26, 2010)[1]

NetSuite Inc. (NYSE: N) is the leading vendor of cloud-based Software-as-a-Service integrated business management software for mid-market enterprises and divisions of large companies, with over 10,000 organizations and a +$225 billion market cap. NetSuite's cloud business management system including ERP / accounting, order management / inventory, CRM, professional services automation (PSA), and Ecommerce. NetSuite was originally named NetLedger by its founders, Larry Ellison and one of his early employees, Evan Goldberg.^[2]

History

Originally NetLedger, NetSuite was founded in 1998 by Evan Goldberg^{[citation needed]}, current chairman and chief technology officer, with the financial backing of Lawrence J. Ellison, founder and chief executive officer of Oracle Corp. Other initial investors were StarVest Partners and UBS PaineWebber.

NetLedger was later renamed to Oracle Small Business Suite,^[2] and finally NetSuite.

NetSuite's major shareholder is Ellison, who financed the company's creation in late 1998 to as the company began.^{[citation needed]} In December 2007, NetSuite became a publicly traded company after its IPO on the NYSE.^[3]

NetSuite has about 1,000 employees and has offices in San Mateo, California; Toronto, Canada; Denver, Colorado; Boston, Massachusetts; Brno, Czech Republic; the United Kingdom; the Philippines; Japan; Singapore; Hong Kong; and Australia.^{[citation needed]}

Awards

In 2011, NetSuite won the 26th Annual CODiE Awards for Best Financial Management Solution. In 2010, NetSuite won for industry excellence in three different categories at the CODiE Awards^[4]:

• NetSuite OneWorld won CODiE Award for Best Business Software Solution
• NetSuite SuiteCloud won CODiE Award for Best Cloud Infrastructure Software
• NetSuite CRM+ won CODiE Award for Best Relationship Management Solution

According to Gartner, NetSuite has been North America's fastest growing top 10 Financial Management System in North America from 2008-2010. Gartner also recognized NetSuite as the UK's and Australia's fastest growing top 10 Financial Management System in 2010.

NetSuite was voted the best cloud application by a panel of leading independent experts in the Cloud Computing World Series Awards 2010 in London.

NetSuite OneWorld was voted by UK customers as the Enterprise Accounting Software of the year in Sift Media's 2009 Software Satisfaction Awards.

CPA Technology Advisor awarded NetSuite with a 5-Star Rating in 2009, 2008 and 2007.

NetSuite partners

NetSuite's major partnership categories consist of:

• Solution Providers
• Systems Integrator
• SuiteCloud Developer Network

See also

• Comparison of accounting software
• Accounting software
• Web application
• Cloud computing
• Software-as-a-Service
• Multitenancy
• Enterprise resource planning
• Customer relationship management
• Manufacturing Resource Planning

References

1. ^ ^{a b c d} Yahoo Finance (2009-12-31). "Income Statement for Netsuite Inc Common Stock - Yahoo! Finance". http://finance.yahoo.com/q/is?s=N&annual. Retrieved 2010-04-02. 
2. ^ ^{a b} Turner, Rob (2005-02-01). "Larry's Kids". Inc. Magazine. http://www.inc.com/magazine/20050201/larrys-kids.html. Retrieved 2008-01-11. 
3. ^ Kawamoto, Dawn (2007-07-02). "NetSuite files for IPO". CNET News.com. http://www.news.com/2100-1014_3-6194557.html. Retrieved 2008-01-07. 
4. ^ 2010 Codie Award Winners

External links

• Company website
• Small Business Computing Magazine Review of NetSuite.
• Four-way CRM shootout - compares NetSuite, RightNow, SalesNet, EBSuite & Salesforce.com.
• NetLedger
• NetSuite in Philippines