NetSuite OpenAir Keeps Lloyd's Register Connected on Land and at Sea

SAN MATEO, Calif. and LONDON, Aug. 4 /PRNewswire-FirstCall/ -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced that the Lloyd's Register Group, an independent risk-management organization servicing the energy and transportation sectors, has strengthened its international services organization by implementing the NetSuite OpenAir professional services automation (PSA) software. By moving its time tracking and expense management to the cloud, the Lloyd's Register Group has streamlined processes to capture critical services information from their global team of experts, some of whom work in the world's most remote locations. The Lloyd's Register Group currently has deployed the NetSuite OpenAir solution to about 40% of their 8,000 employees. For more information about NetSuite OpenAir PSA software, please visit http://www.openair.com/Products/PSA-Software-OpenAir

The Lloyd's Register Group helps to ensure a safer world by protecting life and property through the provision of assurance services, engineering education and related research. Ensuring its ability to provide the full-time technical support that allows its clients to manage the needs of high-risk, capital-intensive assets is critical. Like any professional services organization, it requires an accessible and flexible solution to manage client projects, including time and expense tracking.

Before adopting NetSuite OpenAir, the Lloyd's Register Group was using a bespoke online solution. Dependent on network connectivity for employees in remote locations, the bespoke solution relied on administration staff to enter time and expenses on behalf of the distributed workforce and provided very limited support for Lloyd's online, offline and mobile workforce.

The company needed a flexible time and expense management system that would support its mobile, and very often offline, workforce as many sites are "off the grid" on oil rigs, ships and natural resources sites with limited to no online access.

Today, the Lloyd's Register Group relies on NetSuite OpenAir to provide time and expense management functionality to about 40% of its global workforce. Lloyd's currently expects that by the end of August that will increase to 8,000 full-time employees, and the company has licensed 9,200 seats to provide flexibility in staffing requirements. With NetSuite OpenAir, Lloyd's highly distributed workforce can now enter time and submit expenses anywhere, anytime. Services information can be captured online, offline or on any mobile device.

"NetSuite OpenAir allows our staff to enter their time and expenses information irrespective of whether they are office-based or on the move anywhere in the world," said Stephen Hand, Group IT Director at Lloyd's Register Group Services. "The functionality provided by NetSuite OpenAir gives our business the confidence to move forward, and meet the requirements of our employees and clients."

"The flexibility of NetSuite OpenAir helps the Lloyd's Register Group meet staff and clients' needs more readily and achieve greater efficiencies by removing the requirement for time and expenses to be entered on behalf of remote staff," said Hand. "The improved validation of data at its source also will reduce errors and improve time-to-invoice. NetSuite OpenAir's willingness to enhance their product to meet our unique requirements was a significant contributor in our selection of NetSuite OpenAir."

NetSuite OpenAir is the leading provider of cloud computing services automation software, offering Services Resource Planning (SRP) and Professional Services Automation (PSA) software. NetSuite OpenAir helps services organizations streamline key business processes, cut costs, improve productivity and increase visibility across their organizations.

For more information about NetSuite, visit www.netsuite.com. For more information about NetSuite OpenAir, visit www.openair.com.

NOTE: NetSuite and the NetSuite logo are registered service marks of NetSuite Inc.

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SOURCE NetSuite Inc.