SAN JOSE, Calif., May 17, 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 designed to enable companies to transform their business operations and to thrive in the cloud economy. Today's announcements, spanning mission critical business processes including billing, global business operations and intelligent order management, give customers the tools they need to adapt to the pace of modern business and thrive.
The cloud economy is forcing businesses to rethink their models as global competition accelerates. Businesses are increasingly implementing new, "hybrid" business models. Product companies are adding services and services companies are adding products. Subscription and usage models are becoming the norm as every business adds an "as a service" component. Start-ups and small companies desire the scale and scope of their larger competitors. Big companies want to achieve the agility of nimble start-ups.
NetSuite delivers transformative power to companies of all sizes with any business model, giving them the agility and flexibility to adapt to the rapidly changing world of modern business. NetSuite provides the ability to expand and transform their organizations and reinvent their business models to meet the ever-changing demands of their markets and the expectations of their customers, not just in their home countries but globally. Specifically, today's announcements give businesses the power to transform how they intelligently deliver orders, bill and recognize revenue, and expand globally in the rapidly-evolving cloud economy.
SuiteBilling Delivers Industry's First and Only Cloud Unified Order-to-Billing-to-Revenue Solution
SuiteBilling, a new product release, is designed to enable businesses to adopt any business model from product-based, to time and services-based, to usage- and subscription-based, or any combination of these without limit. SuiteBilling unifies both the billing and revenue recognition processes regardless of business model with complete controls and auditability, helping businesses comply and reduce risks. Built natively into NetSuite's core ERP system, SuiteBilling delivers the functionality and business value that are unmatched by any other competing product. It is the industry's first and only comprehensive cloud solution that synchronizes complex processes from order to billing to revenue recognition all within one system.
NetSuite OneWorld 16 Adds Enhancements for Global Enterprises
NetSuite announced new enterprise-ready capabilities that extend its leadership position as the #1 cloud ERP provider, as it continues at an unstoppable speed to deliver financial management capabilities for multi-national organizations that are unmatched in the industry. Building on the momentum of enhancements to NetSuite OneWorld announced in December 2015, this new release delivers deep global financial capabilities, global control, governance, risk and compliance (GRC) features and enhanced financial reporting. In conjunction with all the global enterprise-ready capabilities available in NetSuite OneWorld, this new release further helps global companies increase operational efficiency, streamline financial reporting, deepen local and global compliance, localize business processes and deliver peace of mind for CFOs, controllers and finance users.
NetSuite Optimizes Omnichannel Fulfillment with Intelligent Order Management
NetSuite announced the release of NetSuite Intelligent Order Management to help meet rising customer expectations and streamline the constantly evolving complexities of omnichannel order orchestration, giving merchants the intelligence and automation needed to use inventory more efficiently, reduce shipping costs and improve the customer experience. NetSuite adds intelligent omnichannel order allocation to NetSuite's existing Order Management solution. Merchants can now automate how to best fulfill orders based on their inventory availability and the configurable business rules they establish inside NetSuite. The functionality helps turn omnichannel shoppers into brand advocates with reduced stockouts, prompt delivery and a multitude of fulfillment options from wherever a merchant holds inventory. Merchants meet demand, increase inventory turns and preserve safety stocks, while scaling their business but keeping labor costs flat.
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.
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SOURCE NetSuite Inc.