September 19, 2017 8:59 PM ET

Software

Company Overview of NetSuite Inc.

Company Overview

NetSuite Inc. provides cloud-based financials/enterprise resource planning (ERP) and omnichannel commerce software suites in the United States and internationally. Its business management application suite includes NetSuite, a platform for financials/ERP, customer relationship management (CRM), professional services automation (PSA), and e-commerce capabilities that automates processes across departments; and NetSuite OneWorld to manage various companies or legal entities, with different currencies, taxation rules, and reporting requirements. The company also provides NetSuite CRM+ that provides sales force automation, marketing automation, customer support, and service management functional...

2955 Campus Drive

Suite 100

San Mateo, CA 94403

United States

Founded in 1998

5,350 Employees

Phone:

650-627-1000

Fax:

650-627-1001

Key Executives for NetSuite Inc.

President
Age: 58
Co-Founder
Age: 73
Chief Financial Officer
Age: 51
Principal Accounting Officer, Senior Vice President and Global Controller
Age: 46
Senior Vice President, General Counsel and Secretary
Age: 50
Compensation as of Fiscal Year 2017.

NetSuite Inc. Key Developments

Lfplaza Group Scales its Hong Kong Business with NetSuite OneWorld

Oracle NetSuite announced that Lfplaza Group has scaled its business dramatically since deploying NetSuiteOneWorld shortly after its launch in 2012. Based in Hong Kong, the company relies on NetSuite for financials, inventory management, CRM and marketing, as well as multi-subsidiary and multi-currency management for the Hong Kong, Australian and U.S. dollars, Chinese renminbi, British pound, Japanese yen, New Taiwan dollar and the Euro. NetSuite's unified cloud business management platform has given Lfplaza scalability and agility as its business has soared from the startup phase to HKD 300 million (USD 38.4 million) in revenue in just five years. Starting out, Lfplaza had in place an entry-level accounting system from a Chinese software vendor. After evaluating several competing solutions, Lfplaza quickly settled on NetSuite OneWorld as an ideal fit for its objectives of an integrated system that could support rapid growth. NetSuite OneWorld powers end-to-end processes for Lfplaza's sales of goods from more than 100 brands to a network of over 600 wholesale clients and about 40 regional multi-brand boutiques across Hong Kong, mainland China, Taiwan, Japan, South Korea, Singapore, Malaysia, Indonesia, Thailand and Vietnam. As a cloud-based system, NetSuite enables Lfplaza to avoid the high capital expenditures of servers and software needed with traditional on-premise business systems. Ease of use, efficient workflows and high visibility into mission-critical data have allowed the 100+-person company to minimise administrative and operational costs and instead focus new hires on revenue-driving sales and marketing activities. Easy access to NetSuite across Lfplaza's 10 wholesale stores, its head office in Hong Kong and three subsidiaries (Hong Kong, mainland China and Macau) enables the company to ensure staff work from the same set of timely, reliable data. Implementation and optimisation by NetSuite Solution Provider Fern Limited, in Hong Kong, has helped Lfplaza make the most of its NetSuite OneWorld solution as usage evolved from inventory to accounting and CRM. Benefits that Lfplaza has realised with NetSuite include: Real-time inventory management. NetSuite gives Lfplaza real-time visibility into tens of thousands of SKUs, particularly important as new products are constantly added. It also helps Lfplaza account for subtle variations in products, such as shiny vs. matte leather for the same handbag. Business reporting. Lfplaza makes extensive use of NetSuite's reporting and analytics capabilities to track revenue and product sales by brand, type of goods, gender, regions and other dimensions. Insights derived are vital to Lfplaza's ability to adapt the business and product lineup as needed. Agility in a fast-paced market. NetSuite has helped Lfplaza achieve business agility, better manage brand and customer partnerships, and optimise inventory and pricing in the fast-paced and rapidly changing luxury fashion market. Multi-currency, multi-subsidiary management. NetSuite OneWorld lets Lfplaza easily transact in currencies including Hong Kong, Australian and U.S. dollars, Chinese renminbi, British pound, Japanese yen, New Taiwan dollar and the Euro, and manage three subsidiaries with efficient financial consolidation. CRM capabilities. NetSuite CRM gives Lfplaza sales staff a unified record of all customer account, interaction and order history information to help drive sales and provide a superior customer experience.

ROLI Harmonizes its Global Business with NetSuite OneWorld

Oracle NetSuite announced that ROLI has implemented NetSuiteOneWorld to manage critical business processes including financials, inventory management, order management, CRM, multi-currency management for the British pound, Euro and US dollar, and multi-subsidiary management for three subsidiaries in the UK and two in the US. As a result of its implementation of NetSuite OneWorld in September 2016, ROLI is better positioned to take advantage of rapid sales growth as innovative products like the Seaboard Block and Lightpad Block become more popular to music-makers. ROLI selected NetSuite OneWorld due to its 360-degree customer view, inventory management and cloud-based architecture. NetSuite OneWorld provides the flexibility, agility and scalability ROLI needed for continued growth and a real-time view of business performance. NetSuite OneWorld supports ROLI's worldwide growth and innovation by providing: Real-time global financial consolidation. NetSuite OneWorld gives ROLI real-time visibility across all its subsidiaries, with a single financial system of record; Superior inventory management that enables ROLI to plan for how much inventory it needs, track the movement of goods, and meet customer demand much more quickly; Centralized order management that meets and exceeds rising customer expectations for omnichannel fulfillment across multiple sales channels by eliminating manual bottlenecks, preventing errors and establishing a smooth flow from sales quote to order fulfillment ensuring timely invoicing and payment; 360-degree view of its customers allowing the company to provide better customer support and service across telephone and email channels; Breadth of functionality designed for modern businesses, enabling the company to streamline mission-critical business processes and improve operational efficiency; A highly scalable system with the ability to quickly and easily add functionality as a business evolves; Built-in business intelligence that provides real-time insights into key business performance indicators for a unified view of the organization, and delivers a single version of truth; and a flexible and agile platform that enables the company to customize NetSuite to meet its business requirements and to integrate with other third-party systems to meet its specific needs with NetSuite's SuiteCloud Platform.

NetSuite Announces Addition of Cherry Bekaert, Terillium, Revolution Group and Conexus SG to New Channel Partners Program

NetSuite announced the addition of new partners to the NetSuite Solution Provider Program including Cherry Bekaert, Terillium, Revolution Group and Conexus SG. All four partners have launched new cloud ERP practices with NetSuite to help clients capitalize on the transformative power of cloud ERP. These new partners are responding to high demand for cloud ERP that can deliver greater agility and scalability for growth without the costly overhead and limitations of on-premise systems. At the same time, the partners are taking advantage of the opportunity to diversify and grow their business while benefiting with the high margins and recurring revenue offered through the NetSuite Solution Provider Program.

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