CRM Software

NetSuite, a provider of cloud-based financials / Enterprise Resources Planning (ERP) and CRM software suites, announced revenues of $193.1 million, a year-over-year increase of 16percent, during 2010.Revenue in Q4 2010 was $52.1 million, registering a 21percent increase over the previous year. Subscription and support revenue for the fourth quarter was $44.2 million, representing 21percent growth.

“2010 was a great year for NetSuite,” said Zach Nelson (News - Alert), CEO of NetSuite, in a statement. “We are seeing an acceleration of enterprises large and small moving to cloud computing, and our ten year head start in delivering cloud business applications bodes well for us in 2011 as companies continue to move their core business applications from outdated and costly client-server offerings from Microsoft, SAP (News - Alert) and others to NetSuite solutions that have cloud computing at their core.”

GAAP operating loss in Q4 2010 was $5.7 million, as compared to a GAAPoperating loss of $6.6 million in the fourth quarter of 2009.  

GAAP operating loss in 2010 was $25.6 million, as compared to a GAAP operating loss of $23.5 million in the previous year.

Non-GAAP operating income for Q4 2010 increased 177 percent year-over-year,touching to $3.5 million, as compared to non-GAAP operating income of $1.3 million in the same period in 2009.

Non-GAAP operating income for the year ended December 31, 2010 improved 228 percent year-over-year, growing to $10.4 million, as compared to non-GAAP operating income of $3.2 million in 2009.

Besides financials/ERP software suites, NetSuite (News - Alert) offers applications including accounting, Customer Relationship Management (CRM), Professional Services Automation (PSA) and E-commerce to companies to manage most of their core business operations in its single integrated suite.

Recently NetSuite announced the addition of a number of social enterprises to benefit from a NetSuite.org product donation. The most recent social enterprises to adopt NetSuite include Easy Office, United Prosperity, EdTec, Envirofit and Kiva, according to TMCnet report.

In 2009, NetSuite announced that its cloud-based business software platform, NetSuite OneWorld beat SAP’s Business ByDesign solution in a “shoot-out” held during the Sapience 2009 conference.