SAN MATEO, Calif., Aug. 20, 2012 /PRNewswire/ -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced that for the second year in a row, more than one-third of the companies that made JMP Securities' Hot 100 Best Privately Held Software Companies list use NetSuite to run their key business processes in the cloud. These companies are identified by JMP Securities, a San Francisco-based boutique investment bank, as the software industry's leading private companies. Some of these high-growth innovators include HubSpot, Marin Software, Talend, and Joyent. All four rely on NetSuite OneWorld to manage their end-to-end business processes, contributing to seamless growth and readiness for multinational expansion and the public equity markets. The world's most powerful cloud ERP solution for complex, multinational companies, NetSuite OneWorld meets the needs of global software companies with built in support for real-time multi-subsidiary financial consolidation and reporting, multi-currency, multinational taxation rules and unified real-time views into the business performance of each and every subsidiary.
NetSuite Powers Hundreds of Leading Software Companies
NetSuite's cloud-based ERP suite is the solution of choice for the software industry, running critical business processes for hundreds of the most innovative software companies. High-growth technology firms benefit from the streamlined business processes, which at the same time empower every stakeholder—from executives to finance, sales and service—with a personalized view of business performance. Because NetSuite solutions are built to support the needs of fast-growing companies, including the ability to quickly scale to multiple subsidiaries, languages and currencies, it has become a premiere choice for technology pioneers with acute enterprise needs and aggressive business models.
NetSuite is uniquely positioned to serve today's best and brightest firms by providing an integrated, focused set of functionality for software companies. With NetSuite, software companies are able to focus on innovation and growth while enjoying streamlined billing and renewal processes, accurate financial reporting and the ability to meet revenue recognition requirements and comply with the Financial Accounting Standards Board (FASB) rules for multi-element sales, known as EITF 08–01 and EITF 09–03.
"The JMP Hot 100 list is reconstituted every year as companies graduate to the public equity markets and new entrants are added. That's why we are especially pleased by this year's results, showing that a new generation of innovators see NetSuite as the best platform to fuel their growth," said Jim McGeever, COO at NetSuite. "Our customers' success is the surest sign that our cloud solutions are now considered best practices for the software industry."
Some of the members of the 2012 JMP Hot 100 relying on NetSuite to power their growth, expansion and innovation include:
HubSpot (www.hubspot.com) based in Cambridge, Mass., adopted NetSuite OneWorld to replace QuickBooks, obtaining a scalable multinational ERP solution. HubSpot already delivers cloud-based marketing solutions to over 7,500 companies in 45 countries. With inbound marketing such a hot topic for brands of all sizes internationally, HubSpot knew it needed a platform that would be empowering rather than restrictive. HubSpot went live with NetSuite OneWorld in January 2012 and has over 100 users managing sales activity, CRM, revenue recognition and invoicing in four currencies. "Our HubSpot solution delivers a single, powerful and integrated solution to our marketing clients, and we like the fact that NetSuite OneWorld provides a single, powerful solution for our business operation needs," said Dave Stack, HubSpot CFO. "NetSuite has allowed us to focus on growing our business and serving our customers, because we know our ERP solution can meet our needs as we expand and enjoy further successes."
Marin Software (www.marinsoftware.com) based in San Francisco, Calif., recently adopted NetSuite OneWorld to support the ongoing success of its online advertising management platform. Marin provides ROI-boosting solutions to over 1,500 brands, that collectively spend more than $3.5 billion annually on search, display, social and mobile advertising through the Marin platform. With transactions in 13 currencies, a variety of purchasing and expenditure controls and complex billing rules, Marin found that its previous system was unable to support the demands of a business with an unlimited ceiling. "We went as far as we could with QuickBooks, and knew we needed a world-class ERP solution to manage our business and equity needs," said John Kaelle, CFO at Marin Software. "The digital advertising world moves fast, and we know that NetSuite OneWorld can adapt to our changing business requirements."
Talend (www.talend.com) based in Los Altos, Calif., implemented NetSuite OneWorld to provide ERP, CRM and eCommerce from a single, multinational solution. As the recognized leader in open source integration software, Talend helps organizations minimize costs and maximize the value of data integration, ETL, data quality, master data management, application integration and business process management, while supporting their shift toward the Cloud and Big Data. The widespread demand for its solutions meant that Talend needed a comprehensive platform to support operations in 12 countries and transactions in 20 currencies. NetSuite OneWorld delivered, managing budgets, quotes, sales, territories, expenses and sophisticated revenue recognition across the entire organization. Over 200 Talend employees use NetSuite, and the company has been repeatedly recognized as a fast-track prospect for global success. "Talend has established a reputation for unlocking the value in our clients' applications and databases, and we demanded an ERP platform that would do the same for us," said Ryan Lindsay, CIO at Talend. "NetSuite OneWorld gives us the power and capabilities we need to maximize our potential."
Joyent (www.joyent.com) based in San Francisco, Calif., turned to NetSuite OneWorld to manage increasingly complex business requirements posed by more than 20,000 customers who rely on Joyent's high-performance cloud infrastructure. Taking on the most demanding brands in on-demand computing across verticals including eRetail, mobile and machine to machine, online gaming and media and publishing, Joyent has already achieved significant traction, with operations in six countries and transactions in 12 currencies, the company knew that it needed a powerful ERP platform to support its ambitions. NetSuite OneWorld provides the world-class capabilities in revenue recognition, sophisticated marketing, and multiple budgets Joyent needs to be successful. "As the high-performance cloud infrastructure provider for today's demanding mobile and web applications, we know the power, scalability and convenience of today's cloud solutions, making NetSuite OneWorld the obvious choice to run our business," said Heidi Mackintosh, CFO at Joyent. "We provide unparalleled performance, uptime and visibility to our customers and we get the same from our investment in NetSuite OneWorld."
Today, more than 12,000 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-class cloud ERP suites for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations, as demonstrated by a recent Gartner study naming NetSuite as the fastest growing top 10 financial management systems vendor in the world. NetSuite continues its success in delivering the best cloud ERP/financial suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.