SAN MATEO, Calif., March 7, 2011 /PRNewswire/ -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced a host of new offerings to enhance the already successful NetSuite SP100 Program launched last year. The NetSuite SP100 Program is designed to enable channel businesses to reap immediate rewards from modern cloud-based solutions by offering aggressive 100% first-year margins with the industry's most financially rewarding reseller opportunities. The new offerings are called "NetSuite SuiteStart Service," which encompasses solution provider program fee waivers, free training, comprehensive go-to-market support and marketing resources, and lead generation support. The SuiteStart Service takes the existing NetSuite SP100 Program a giant step forward to bring more value to channel businesses that cannot be matched by old legacy on-premise systems, such as Microsoft and Sage. For more information about the NetSuite SP100 Program, please visit www.netsuite.com/sp100.
"Built on the success of NetSuite SP100, we decided to enhance the program by bringing more offerings to channel businesses," said Craig West, NetSuite VP of Channel Sales. "We listened to our partners and found new ways to make the offer more attractive through the addition of our SuiteStart Service."
Channel businesses frustrated by declining revenue streams and sagging demand for legacy on-premise systems can benefit from the sweetened NetSuite SP100 program. At the heart of the program is the option for channel partners to realize the entire year-one software subscription revenue, enabling them to quickly recoup costs of sale. NetSuite SP100 partners also enjoy a 10 percent margin on all renewals, establishing a lucrative, recurring revenue stream. Based on a channel survey conducted by NetSuite in 2010, the solution provider community emphasized the importance of channel enablement as a criterion when selecting new vendors. The SuiteStart Service was created with this feedback in mind.
The NetSuite SP100 program includes many of the key advantages previously available to qualifying channel partners, including commissions paid on customer collections. Most NetSuite customers prepay for service anywhere from one to three years in advance, meaning the revenue split for the entire period is available to partners as soon as it is paid. And NetSuite remains the only top-tier cloud computing ERP suite provider who pays channel partners for customer renewals, not just new sales. The key components of the expanded NetSuite SP100 program include:
- The option to realize 100 percent of a new customer's first-year revenue, with a 10 percent share of renewals in future years. New partners may also choose NetSuite's conventional revenue-sharing agreements while enjoying the other benefits of the SP100 program;
- The NetSuite SuiteStart Service, designed to give partners immediate mastery of the cloud, and a shorter horizon to initial customer wins;
- Waivers of first-year program enrollment fees for new channel partners (an immediate $5,000 value);
- Free first-year training in the NetSuite sales training and methodology courses for up to three sales reps;
- Comprehensive go-to-market support, including marketing templates, start-up leads, and access to ongoing leads for top-performing partners;
- A free NetSuite license for partners, in good standing, to use to operate their own business.
"NetSuite continues to innovate and attract the best partners with its comprehensive channel program, that only now gets better with the SuiteStart package," said Daniel Edwards, Partner at Ncompass Business Solutions. "NetSuite's enhancements to their program make it even easier for those organizations that have been cautious about the opportunities in the cloud to take the plunge and see immediate rewards."
"We have had our eye on the cloud computing space for some time, and with the newly added enhancements made by the NetSuite SuiteStart Service, I knew the time was now for us to make the move," said Bryan Majewski, Managing Partner at Baker Tilly. "Between the flexible revenue sharing and the comprehensive program support, we are confident we will be successful partnering with NetSuite."
"As a long-standing NetSuite partner we've seen the value of NetSuite's partner program consistently grow every year. The enhanced SP100 program is a perfect example of how NetSuite continually invests in and innovates with its channel programs," said Martin McNicoll, President at ERP Guru. "Between the outstanding channel program support and the world's most comprehensive cloud business suite, there isn't a better opportunity than NetSuite for new channel partners seeking to launch a cloud practice."
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For more information about NetSuite, please visit www.netsuite.com.
NOTE: NetSuite and the NetSuite logo are registered service marks of NetSuite Inc.
SOURCE NetSuite Inc.