World's Most Innovative Companies Run Business On NetSuite Cloud

SAN MATEO, Calif., April 24, 2012 /PRNewswire/ -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced that six of the World's 50 Most Innovative Companies and more than 10 of the Top 10 By Industries ranked by Fast Company Magazine run their mission-critical business processes, from financials to CRM to Ecommerce and professional services automation (PSA), on NetSuite. This reflects how NetSuite's cloud-based business management solutions help power innovation by liberating companies from the onerous chores of on-premise systems installation, upgrades and maintenance to focus on delivering compelling products and services. Cloud-based solutions enable companies to avoid large upfront costs for software, servers and personnel, freeing capital for investment into innovation.

NetSuite customers honored by Fast Company include:

Jawbone (www.jawbone.com): Top 50 Most Innovative, Top 10 Consumer Electronics

Kiva Systems (www.kivasystems.com): Top 50 Most Innovative, Top 10 Retail

Liquid Robotics (www.liquidr.com): Top 50 Most Innovative

Siemens (www.siemens.com): Top 50 Most Innovative

Square (www.squareup.com): Top 50 Most Innovative, Top 10 Consumer Electronics, Top 10 Mobile, Top 10 Finance

2tor (www.2tor.com): Top 10 Education

3M (www.3m.com): Top 10 Healthcare

Lytro (www.lytro.com): Top 10 Consumer Electronics

Valve (www.valvesoftware.com): Top 10 Gaming

Warby Parker (www.warbyparker.com): Top 10 Retail

Yammer (www.yammer.com): Top 10 Social Media

NetSuite customers are represented in 10 of the 16 industries for which Fast Company named Top 10 most innovative companies by verticals, including finance, consumer electronics, retail, healthcare, education, social media, gaming, Web/Internet and mobile. Overall, NetSuite customers are named 19 times in Fast Company's Top 50 and industry-specific Top 10 lists.

"Fast Company's recognition of NetSuite customers for innovation in a broad range of verticals illustrates that cloud business management has moved into the mainstream as a trusted solution in such industries as finance, retail, healthcare and more," said Jim McGeever, Chief Operating Officer at NetSuite. "NetSuite's cutting-edge cloud solutions provide the flexibility and agility our customers require to continue to produce the game-changing innovations that keep them at the forefront of their respective industries, free of the entanglements of on-premise software."

Jawbone (www.jawbone.com), a maker of products and services for the mobile lifestyle, has been recognized as an innovator on both the Top 50 overall and Top 10 in consumer electronics lists. The company has facilitated rapid growth by replacing QuickBooks and spreadsheets with NetSuite, including the NetSuite manufacturing module for materials resource planning, inventory management, standard costing and more. "As a growing company with international manufacturing and distribution, NetSuite allows us to streamline our resources by building our business on a single system," said Marin Tchakarov, VP of Finance and Controller at Jawbone.

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 financial management systems vendor in the world. NetSuite has continued 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 is accelerating.

For more information about NetSuite Inc., please visit www.netsuite.com.

Follow NetSuite's Cloud blog, NetSuite's Facebook page and @NetSuite Twitter handle for real-time updates.

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

(Logo: http://photos.prnewswire.com/prnh/20090924/SF81218LOGO-b)

SOURCE NetSuite Inc.