NetSuite smartens up CRM
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A rarity among CRM vendors, NetSuite integrates an ERP and accounting backbone directly into its SFA, marketing, and support platform, overcoming back-office deficiencies that often limit CRM effectiveness. Version 10 addresses another common shortcoming in CRM apps: actionable business intelligence.
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com September 24, 2004, 10:11 AM PT. This fourth priority&#39;s main focus has been improving or obtaining CRM and ERP software for the past year and a half.
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TechWeb - Availability of Entellium's code could speed development of industry-specific CRM products.
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com October 7, 2004, 9:50 AM PT. This fourth priority&#39;s main focus has been improving or obtaining CRM and ERP software for the past year and a half.
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NetSuite&#39;s initial public offering raised $185.4 million, close to double the amount the company originally forecast the IPO would generate and a positive sign for the market of hosted, software-as-a-service business applications.NetSuite, a provider of hosted applications for small and midsize organizations, sold 6.2 million shares of common stock at $26 per share via auction and its underwriters acted on their option to buy an additional 930,000 shares, the company said Wednesday.The $185.4 million is a gross amount from which underwriting discounts and expenses will be deducted, the company said. Moreover, 365,000 of the shares bought by the underwriters were owned by stockholders like NetSuite&#39;s CEO and chief technology officer, so the proceeds from those shares -- about $9.5 million -- won&#39;t go to the company.In the final IPO prospectus, NetSuite had estimated that, if the underwriters exercised their option in full -- as they did -- NetSuite&#39;s IPO net proceeds would be approximately $161.9 million.NetSuite initially set a range of $13 to $16 per share for its IPO but subsequently raised it and eventually set the price at $26 per share on Thursday of last week, the day when the stock started trading on the New York Stock Exchange under the &quot;N&quot; symbol.At midmorning Wednesday, the stock was trading at $34.85, down about 10 percent from its previous close. Its highest point so far is $45.98.Incorporated in 1998, NetSuite sells ERP (enterprise resource planning), CRM (customer relationship management) and e-commerce applications on a hosted, subscription-based model, in which customers access the software via the Internet and don&#39;t need to install it on their premises.This software-as-a-service model, championed by companies like Salesforce.com and Google, is considered a significant threat to the traditional approach from vendors like Microsoft of having customers implement software on their own PCs and servers.As of Sept. 30 of this year, NetSuite had over 5,400 active customers, according to its IPO prospectus . In 2006, the company had revenue of $67.2 million and a net loss of $35.7 million. In the first nine months of this year, it generated $76.8 million in revenue and racked up a net loss of $20.6 million, according to the prospectus.NetSuite plans to use its IPO proceeds to pay off an $8 million balance on a line of credit with Tako Ventures, an entity controlled by Oracle CEO Larry Ellison, and to possibly make acquisitions.As of Nov. 30, Ellison controlled about 60 percent of NetSuite&#39;s outstanding stock -- some 31.9 million shares -- but Ellison transferred those shares into a holding company, NetSuite Restricted Holdings. The move is meant to &quot;effectively eliminate&quot; Ellison&#39;s voting power and avoid potential conflicts of interests, according to the prospectus.NetSuite also plans to devote between $10 million and $15 million for capital expenditures, including the purchase of property, plant and equipment and the addition of a second data-center facility, and for working capital and other general purposes, including its international expansion. NetSuite currently provides its hosted applications out of a single data center, which the company admits in the prospectus is a risk that could harm its business should there be any service disruption at this facility.NetSuite also said it may use a portion of the net proceeds to acquire other businesses, products or technologies, although it doesn&#39;t have any agreements or commitments for any specific acquisitions at the moment. The money it doesn&#39;t spend will be invested in short-term, interest-bearing investment grade securities.&#160;
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com September 30, 2004, 8:02 AM PT. This fourth priority&#39;s main focus has been improving or obtaining CRM and ERP software for the past year and a half.
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com October 5, 2004, 2:09 PM PT. This fourth priority&#39;s main focus has been improving or obtaining CRM and ERP software for the past year and a half.
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com October 7, 2004, 10:30 AM PT. This fourth priority&#39;s main focus has been improving or obtaining CRM and ERP software for the past year and a half.
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The financial services industry has adopted CRM technology with great zeal -- it is known as an early adopter market and continues to innovate in the ways it uses various modules.
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InfoWorld reviewer says Version 10 a good fit for smaller businesses looking for a strong CRM app, and especially those in need of integrated financial and inventory management.
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(InfoWorld) - NetSuite announced Thursday that three of its partners now provide extensions to the vendor's hosted midmarket applications suite so that the software will run on mobile devices. NetSuite's eponymous integrated SaaS (softwareÂ as a service) online suite includes ERP, CRM, and e-commerce functionality. The company mostly targets SMBs looking to move up from entry-level accounting software like Intuit's QuickBooks to more sophisticated applications on which to run their firms' operations. The partners -- Antenna Software; Explore Mobile, a wholly owned subsidiary of Explore Consulting; and iEnterprises -- have used NetSuite's SuiteFlex application development and integration software to build extensions to the NetSuite suite so it can be accessed wirelessly by users of BlackBerry, Windows Mobile, and Palm Treo devices. Being able to access NetSuite on a mobile device will enable a remote user to see a customer's history, take product orders, update pricing, and generate quotes for orders in real time, according to Zach Nelson, CEO of NetSuite. Using SuiteFlex, which NetSuite debuted in October, customers and partners can also customize the suite's role-based user interface for mobile devices, Nelson said. The vendor expects to continue to rely on partners to supply mobile capabilities for its software, while NetSuite concentrates on further development of its suite. "We'll focus on the things we can do best," he added. NetSuite's approach to making its SaaS offerings available as mobile applications is markedly different from that adopted by Salesforce.com, its prime competitor in the hosted CRM space. In April 2006, Salesforce made its first-ever purchaseÂ acquiring one of its partners, wireless technology developer Sendia, for $15 million in cash. The vendor also launched AppExchange Mobile, technology based on Sendia's software, allowing customers to access on-demand applications from Salesforce and its partners from their handheld computers and smartphones. Salesforce said that the technology also made it possible for developers to write their wireless applications once and not have to tweak them for each mobile device operating system. NetSuite will refer customers seeking mobile access to its software to its three partners and may add more partners, Nelson said. The partners will provide support for the extensions, and pricing is up to the partners with Nelson expecting each extension to typically cost $25 per user per month. Nelson also positioned the news as a validation of NetSuite's SuiteFlex software, showing it can be used to not only develop specific vertical applications but also to help create horizontal applications that run across a wide variety of industries.
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Customer relationship management (CRM) specialist Salesforce.com is adding customization features to its hosted suite as well as increasing its reliance on partners to develop complementary applications.
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com September 21, 2004, 11:23 AM PT. This fourth priority&#39;s main focus has been improving or obtaining CRM and ERP software for the past year and a half.
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com September 21, 2004, 4:05 PM PT. This fourth priority&#39;s main focus has been improving or obtaining CRM and ERP software for the past year and a half.
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It adds CRM functionality but faces competition from hosted services.
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Microsoft announced this week Business Ready Customer Care, an initiative that includes major enhancements to its maintenance and support program for Microsoft Dynamics, ERP and CRM applications.
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SAP AG this week unveiled the third version of its CRM On-Demand online suite with enhancements to its service and sales apps.