SAN JOSE, Calif., May 18, 2016 /PRNewswire/ -- NETSUITE SUITEWORLD 2016 — NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that Blue Yonder, a leading predictive applications company based in Germany, has selected NetSuite OneWorld to run its mission-critical business processes, including financial consolidation, revenue recognition, forecasting and budgeting, reporting, management for subsidiaries in the UK and Germany, multi-currency support for the Euro, British pound and US dollar and multi-country taxation compliance – all within one unified cloud platform. With NetSuite OneWorld, Blue Yonder has a true cloud solution that will scale with the company as it continues its growth and expands into the US and beyond.
A venture-backed company that recently received a $75 million investment, Blue Yonder is the leading provider of Predictive Applications for retail. It delivers automated data driven decisions to the retail sector that can achieve an 80 percent reduction in out-of-stock rates and a 15 percent increase in revenue. Blue Yonder does this by using its pioneering machine-learning algorithms, developed and managed by the most qualified team of doctorate-level data scientists in retail. Founded in Germany by a former CERN Researcher, Blue Yonder has undergone rapid growth and quickly found that its existing ERP solution was not sufficient for an ambitious data driven company. It made delivering the required level of financial reporting a significant challenge, forcing the business to rely on Excel spreadsheets and manual input.
After considering different solutions, Blue Yonder chose NetSuite as a fellow cloud provider that could provide financial customer information in real-time, in one unified system, helping to manage global financial consolidation to expedite its plans for further expansion. Blue Yonder's commitment to European data privacy was also key to its selection of NetSuite OneWorld. NetSuite's recent European data centre announcement, track record and proven scalability inspired the trust and credibility that Blue Yonder required.
NetSuite OneWorld delivers transformative power to global businesses of all sizes with any business model, giving them the agility and flexibility to adapt to the rapidly changing world of modern business. NetSuite OneWorld gives today's businesses the ability to expand and transform their organisations and reinvent their business models to meet the ever changing demands of their markets and the expectations of their customers. With support for 190 currencies, 20 languages and automated tax compliance in over 100 countries, NetSuite OneWorld brings Blue Yonder the following key features and benefits:
- Rapid expansion. NetSuite OneWorld's powerful international capabilities will enable the business to quickly and easily establish new entities as the brand expands globally.
- Real-time analytics and reporting. NetSuite's dashboards, reporting and analytical tools will enable Blue Yonder to monitor, report and analyse all KPIs across the board.
- Real-time global financial consolidation. NetSuite OneWorld will provide real-time visibility across all of Blue Yonder's subsidiaries, divisions and business units with a single financial system of record.
- Ease of integration. Blue Yonder will be integrating partner product Adaptive Insights (advanced financial planning) into the implementation in order to provide enhanced financial capabilities.
"We looked for an ERP solution that supports our growth plans and expansion into new markets, and in order to do this, accurate reporting across our subsidiaries in a variety of currencies is mission critical," said Uwe Weiss, CEO of Blue Yonder. "NetSuite OneWorld will provide us with these capabilities with one single view, in real-time."
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.co.uk.
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SOURCE NetSuite Inc.