SAN JOSE, Calif., May 18, 2016 /PRNewswire/ -- NETSUITE SUITEWORLD -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced a number of product innovations targeting nonprofits, including NetSuite OneWorld 16, revenue management, SuiteCommerce and custom records. These features are designed to help nonprofits adapt to rapid changes in the industry, while introducing efficiencies into organizational processes. The features announced today demonstrate NetSuite's accelerated product innovation across all industries, and for nonprofits in particular, at an unstoppable pace.
Nonprofits face a rapidly changing and unpredictable operating environment. In the face of increasing donor expectations, new business models that blur the lines between nonprofit and for-profit approaches are emerging. Every nonprofit must break the vicious cycle of low investment, underfunded programs and unrealistic donor expectations. By partnering with NetSuite, nonprofits can deploy future-proof technology and leading practices to create a virtuous cycle of higher performance, increased innovation and better outcomes.
NetSuite's corporate citizenship arm, NetSuite.org, offers donated and discounted software and pro bono services to hundreds of qualified nonprofits and social enterprises. But with more than 600 nonprofit organizations among its customers, NetSuite also provides a platform that allows nonprofits run their core operations and the capabilities (now and tomorrow) to connect a donor's dollar to an expenditure to an outcome while also providing the rich functionality, agility and scalability that these organizations need to adapt to shifts in modern giving.
"Between our deep roster of nonprofit customers and the close, pro bono work we've done with many of these organizations, NetSuite has a deep understanding of the challenges nonprofits face today," said David Geilhufe, Senior Director, NetSuite.org. "We've built out functionality to meet those challenges today, with flexibility to meet the challenges of tomorrow and we will continue to share leading practices to help them fulfill their mission."
Changing the World Through Nonprofit Partnerships
With a long and distinguished history of working with nonprofits, NetSuite has created functionality that allows these organizations to serve their donors and mission with innovation typically considered the domain of their counterparts in the for-profit world. NetSuite has developed functionality that create specific benefits for nonprofit organizations including:
- NetSuite OneWorld. With multiple organization support and transaction and currency consolidation, NetSuite OneWorld provides International NGO's the ability to maintain robust and real-time transparency into their projects and programs across the globe.
- NetSuite Advanced Financials. Enhanced billing, statistical accounting and allocation schedules give nonprofits the ability to build efficiency and transparency into their expense control processes and ensure a holistic view of outcome measures in reporting.
- NetSuite Advance Revenue Management. Association and membership organizations can seamlessly track and manage multiple revenue sources and develop recognition schedules for subscription management. The Revenue Recognition Dashboard Portlets, with real-time analytics, provides powerful insights into member management.
- Custom Records. Allow nonprofit organizations to easily create, track and manage funding sources, offering development and management real-time visibility into donor and contribution strategies.
- SuiteGL. Custom GL Segments vastly simplifies the process of managing complex nonprofit reporting across restrictions, geographies, funds, grants and other dimensions.
- Advanced Approvals. Provides nonprofit controllers a configuration-driven rules framework to define and apply approvals consistently across a wide range of transactions, resulting in increased accuracy and reduced time to close.
- SuiteCommerce Advanced. Nonprofits with multi-faceted fundraising strategies can easily manage engagement, cross-selling and online donation initiatives using SuiteCommerce Advanced's unifying ecommerce platform.
To learn more about NetSuite for nonprofit organizations, please visit www.netsuite.com/nonprofits.
Today, more than 30,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of cloud-based financials/enterprise resource planning (ERP) and omnichannel commerce software applications for businesses of all sizes. Many FORTUNE 100 companies rely on NetSuite to accelerate innovation and business transformation. NetSuite continues its success in delivering the best cloud business management software to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.
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.
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SOURCE NetSuite Inc.