High Tech Companies Turn To NetSuite To Fuel Business Growth

SAN MATEO, Calif., Oct. 29, 2015 /PRNewswire/ -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced more new customer wins including Workfront, KIXEYE and INXPO, deploying NetSuite's single, unified cloud-based business management suite to replace Intacct accounting software. The new wins join the growing list of software companies, including Actian and MongoDB, which have outgrown Intacct and turned to NetSuite for the agility, flexibility and scalability they need to fuel business growth and global expansion. Companies have discovered a wealth of advantages by switching from Intacct to NetSuite, including:

• Robust financial reporting capabilities that help businesses execute through a smooth auditing process, creating a win-win for both the businesses and their auditors. 
• Rich international product functionality that includes global financial consolidation, subsidiary management and transactions in more than 190 currencies, support for 19 languages and tax compliance across more than 50 countries.
• NetSuite's SuiteCloud platform, which provides powerful and flexible customization and integration that meet the diverse and ever-changing needs of a business and enables seamless third-party integrations; and richer and deeper product functionality across the entire suite.
• Real-time in-depth visibility and flexible control across multi-entity operations located around the world.
• World class global customer support.

With NetSuite, these companies are well positioned for global expansion, while NetSuite's robust internal controls and strong track record of businesses running NetSuite that have taken their companies public in recent years helps pave the way for a possible IPO.

Workfront, KIXEYE and INXPO, are among many high-growth software companies that are realizing significant benefits after replacing Intacct with NetSuite.

Advanced Reporting and Ease of Integration Convince Workfront to Switch to NetSuite

Workfront (www.workfront.com), maker of a cloud-based Enterprise Work Management solution that helps marketing, IT and other enterprise teams conquer the chaos of excessive email, redundant status meetings, and disconnected tools for thousands of global enterprises, like Cars.com, Cisco Systems, Comcast, iProspect, Schneider Electric and Trek, replaced Intacct with NetSuite in 2014 after struggling with Intacct's reporting capabilities and building integrations to its internal platform. The Lehi, Utah-based company runs NetSuite OneWorld to manage mission critical business processes including financial consolidation, order management and revenue recognition. Workfront uses NetSuite to manage four subsidiaries in the UK, China, Japan and Armenia and to manage transactions in British sterling, Australian dollar, Japanese Yen, Chinese Yuan and Armenian Dram. With NetSuite OneWorld, Workfront's employees now have real-time access to reports and customized dashboards and its ERP system is tightly integrated with its other applications, including Concur for travel and expense management, Ultimate Software's UltiPro for HR and Salesforce.com for CRM through a connector powered by NetSuite partner Dell Boomi, allowing the company to automate previously manual processes.

"NetSuite is much easier to use than other systems we've had and the reporting has been tremendous," said Eric Sailsbery, VP of Finance at Workfront. "We've been able to accomplish our objectives in revenue recognition and operate more easily and effectively. And, when investors and bankers ask about our financial system, we tell them we run NetSuite and move on to the next question."

KIXEYE Turns to NetSuite for Global Business Management Capabilities to Support International Growth

KIXEYE Inc., (www.kixeye.com) a San Francisco-based developer of social platform strategy and combat games for millions of hardcore enthusiasts across the world, struggled with the limited international capabilities and basic reporting available through a third-party accounting provider that used Intacct. It implemented NetSuite OneWorld in April 2013, ending its relationship with the accounting firm for seamless financial consolidation and management across four subsidiaries in Europe, Canada and Australia, and for multi-currency transactions by its studio and engineering units in Canada and Australia. KIXEYE has significantly improved its reporting capabilities and business visibility, while reducing delays since moving to the NetSuite cloud. For instance, KIXEYE has substantially cut the time needed for its monthly financial close to as little as one day, compared to seven or eight days with Intacct. NetSuite's single platform and seamless consolidations provide the efficiencies and data necessary for KIXEYE's management team to make informed decisions. NetSuite OneWorld supplies a foundation on which KIXEYE can manage revenue from Facebook, Apple and Google, based on in-game enhancements that users purchase through the social networks while playing such games as Battle Pirate, War Commander, and Vega Conflict.

"NetSuite OneWorld is a great cloud-based ERP solution. The user interface is very easy to use and NetSuite's global search is an outstanding capability that Intacct did not provide," said Junko Swain, Corporate Controller at KIXEYE. "NetSuite has a customer-focused culture that's very important and valuable to us—we didn't have that sort of partnership with Intacct."

INXPO Finds the Revenue Recognition, Reporting Functions it Needs with NetSuite

INXPO (http://www.inxpo.com/), a global provider of enterprise video communication solutions for companies like UnitedHealthcare, Gap, and Aon, deployed NetSuite OneWorld in 2012 to run mission critical business processes including financials, CRM, order management and sales commissions administration. NetSuite is better able to support the company's rapid year-over-year growth and is integrated with INXPO's Salesforce.com CRM system without extensive customization. Additionally, as the business grew and added SKUs, NetSuite was able to effectively recognize revenue and support timely data retrieval during audits. With NetSuite OneWorld, INXPO has tight integration between NetSuite for financials, OpenAir for professional services automation, and Salesforce.com for customer relationship management (CRM), eliminating multiple manual entries and enabling detailed reports by pulling data from multiple systems in real-time. Additionally, with NetSuite's comprehensive system and built in efficiencies, INXPO has been able to maintain the same staffing levels in finance during its current growth phase.

"Following the integration between NetSuite and our other business support systems, our teams are far more effective and efficient," said David Aniol, CFO at INXPO. "With NetSuite's ease of use and reporting capabilities, we have complete visibility into our business."

In summary, high-growth software businesses gain the following benefits with NetSuite including:

• Powerful customization capabilities that NetSuite's SuiteCloud development platform provides, allowing companies to adapt NetSuite OneWorld to their specific needs.
• Pre-built integration with leading complementary applications in the industry.
• A robust ecosystem of partners providing industry-specific functionality.
• Industry-leading capabilities for complex revenue recognition and billing.
• Increased efficiency with natively integrated ERP, CRM, ecommerce, PSA and HCM end-to-end business processes.
• Elimination of the inefficiencies of disparate data stores across unintegrated third-party applications.
• The speed, precision and control of multi-entity and multinational business operations through NetSuite OneWorld's support for global financial consolidation, subsidiary management, and transactions in more than 190 currencies, support for 19 languages, and tax compliance across more than 50 countries.

Today, more than 24,000 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 enterprise-ready cloud business management suites of enterprise resource planning (ERP), customer relationship management (CRM), and ecommerce 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 suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.

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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.

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