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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 softwarecompanies running its software and eventhose selling competing solutions haveindicated to us that NetSuite has becometough to beat in this vertical.” Patrick Walravens, Sr. Software Analyst & Head of Technology Research JMP Securities, LLC
Who is NetSuite? NetSuite ERP Fastest Growing Top 10 Cloud Top 10 FMS Vendor Companies to Watch
Challenges facing Software CompaniesPain Business Requirements Solution ImplicationsLack of timely financial Accurate, real-time financial • Real-time financial reports • Granular drill down and visibilityreporting reporting into cash managementEnsuring adherence to Efficiently manage the entire • Complete coverage across all major accounting processes –key financial standards accounting process Order to Cash, Purchasing, Expense Management • Accelerate the financial closeComplex revenue Support the latest revenue • Complete support for all key revenue recognition standardsrecognition recognition requirements • Automated revenue calculationLack of global visibility Real-time reporting across all • Real-time role-based dashboards • Global financial consolidations key business locationsEffectively managing Automate the renewal process • Complete control of the renewals processrecurring revenue • Manage billing for subscription and maintenance streamsLack of a 360 degree Single customer record across • Finance and sales integration • Advanced quote managementview sales, marketing and finance • Cross-sell and up-sell management 4
NetSuite Delivers Benefits to the Bottom Line Improvement area Business ResultIT 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 Improved revenue recognition from NetSuite provided(Finance) both increased productivity and reduced riskFinancial 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 percentSource: Nucleus Research
NetSuite Streamlines Finance Processes
NetSuite is the #1 choice for 21st century software companiesScalable Startup Transition Mature Company
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 SoftwareCompanies 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