NETSUITE ANNOUNCES MAJOR PUBLIC COMPANY CUSTOMER WINS
Public Companies Replace Traditional Software with Integrated, On-demand Application
NetSuite Solution
NetSuite`s Single ERP/CRM Solution Eases Sarbanes-Oxley Compliance
SAN MATEO, CA – June 17, 2004 - NetSuite, Inc., today announced more than 30 publicly
traded companies have chosen NetSuite to automate their business. These new customer
wins have standardized on NetSuite to run their front and back-office, and many
ecommerce operations. For more information about these companies, please visit www.netsuite.com/customers. NetSuite`s product offerings include NetSuite, NetERP,
NetCRM, and Oracle® Small Business Suite. The Oracle Small Business Suite name
is used under license from Oracle Corporation (NASDAQ: ORCL).
One commonality companies have prior to implementing NetSuite is that they all
use disparate software applications to run their business - one for financials,
one for sales, one for customer service and support, one for inventory management
and one for marketing. Frustrated with the cost and complexity of using different
software packages, these companies chose NetSuite as the one solution to automate
their business operations so that data moves seamlessly across departments.
Additionally, NetSuite`s advanced customization technology gives them the ability
to tailor NetSuite to meet their specific needs. Also, because it is an on-demand,
Web-based service, NetSuite eliminates the pain of managing, upgrading and maintaining
traditional software.
In particular, new government regulations such as Sarbanes-Oxley (SOX) make fragmented
business management systems even more costly and problematic. AMR Research estimates
that corporations will spend $5 billion (U.S.) on SOX compliance in 2004. According
to a white paper sponsored by Microsoft Corp., the top challenge facing companies
seeking to comply with Sarbanes-Oxley is “Multiple, nonintegrated CRM/ERP/MRP/SCM/Project Accounting System.” (Source: “Sarbanes-Oxley:
The role of MBS Technology in Supporting Compliance,” www.microsoft.com). NetSuite,
with its single integrated ERP/CRM solution eliminates the difficulty of compliance
with SOX, as a company`s business processes are well documented within the application
itself. As well, NetSuite tracks a full audit trail for every action taken in
the system, from scheduling a meeting to invoicing a customer. Such rich audit
trails are an important element of maintaining Sarbanes-Oxley compliance.
“Companies embrace NetSuite as a single application to run their business because
it lowers cost, improves customer service, and delivers business intelligence
in real-time,” said Zach Nelson, CEO of NetSuite. “As larger, public companies
begin to leverage NetSuite, they find that it makes the job of Sarbanes-Oxley
compliance much easier to document and much less expensive to achieve.”
Document Sciences Corporation (NASDAQ: DOCX) delivers real-time, interactive
content processing services that content-driven organizations depend on to realize
productivity benefits, cut costs, and increase competitiveness. Approximately
650 customers worldwide use Document Sciences products in insurance, banking
and financial services, managed-care, telecommunications, utilities and commercial
print service bureaus. Customers include more than 60 Fortune 500 companies.
Based in Carlsbad, Calif., with regional locations across the U.S. and a European
subsidiary in Paris, Document Sciences also markets its products in Australia,
Canada, New Zealand, Brazil, Mexico and China. For more information about Document
Sciences Corp., visit www.docscience.com.
"Before NetSuite we would have to go through three different spread-sheets to
establish what exactly was happening in our global sales pipeline,” said David
Barker, Director of IT for Document Sciences. “Now, not only do we have all the
necessary information, but we can customize its presentation according to our
needs and view it in real-time."
NetSuite enables companies to manage all key business operations in a single,
integrated system, which includes customer relationship management; order management
and fulfillment; inventory management; finance; ecommerce and Web site management;
and employee productivity. NetSuite is delivered as an on-demand service, so
there is no hardware to procure, no large, up-front license fee, and no complex
set-ups. Finally, NetSuite`s patent-pending “real-time dashboard” technology
provides an easy-to-use view into role-specific business information that is
always up-to-date. For more information about NetSuite visit: www.netsuite.com.
Trademark
Oracle is a registered trademark of Oracle Corporation and/or its affiliates.
Contact:
Mei Li
NetSuite
650/627-1063
meili@netsuite.com
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