NetSuite
The thing that most stuck with me was his idea that if all companies do is run the same systems in the cloud as they have in their data centers without changing their business processes, they're simply going to be dealing with "a cloud-based hairball instead of an on-premise hairball.
--Zach Nelson, CEO of NetSuite
NetSuite OneWorld delivers real-time global business management and financial consolidation to mid-sized companies with multinational and multi-subsidiary operations. It includes enterprise resource planning (ERP), customer relationship management (CRM), eCommerce and Business Intelligence (BI) Software as a Service (SaaS) solutions along with SuiteCloud, their Platform as a Service (PaaS) offering.
With NetSuite, "We've gone from IT managing the data and owning it to the departments owning the data." -- Nestor Zwyhun, chief technology officer at TradeCard.
NetSuite notes, "There's also a lot less talk these days about IT departments throwing up roadblocks to the cloud. Now, most IT folks are just concerned about making sure cloud implementations make sense from security and compliance standpoints."
Analyst Mary Hayes Weier notes, "And after 10 years of business, [NetSuite] still hasn't turned a profit (it reported a loss of $8 million on sales of $41.7 million for its quarter ended Sept. 30)".
As of November 2009, Netsuite's tangible assets less liabilities are over $50 million.
Analyst Mary Hayes Weier also notes,The company's core business remains small-to-midsize businesses, but NetSuite is trying to move upstream and get more big companies to choose NetSuite for its subsidiaries. Forty percent of NetSuite's customers spend less than $10,000 a year with the company. But as proof of progress with the upstream strategy, NetSuite's average deal size in Q3, 2009 was $100,000.
To our amusement, NetSuite announced its 2010 NetSuite Hairball Awards for companies which have done the most to untangle their on-premise software mess. Included is a good list of NetSuite clients.
CEO Zach Nelson notes, "When NetSuite loses a potential sale, it's because the prospect is just continuing with the status quo. The company we lose to most is 'No Decision.'"
NetSuite claims 6500 customers. Seems valid from the chart below.
