NetSuite, a company that provides integrated Web-based business software, including Accounting software/ERP software, CRM software, and Ecommerce software, today revealed it has put together a series of events to discuss the changing role of the chief financial officer in tough financial times like today.

 

The CFO Strategy Series also identify solutions that financial leaders can adopt to help them cut operation costs and create a productive business environment.

 

Wednesday, January 21^st, kicks off the first series event, held at the New York Stock Exchange. Attendees will gain insight from two technology innovators, NetSuite CEO Zach Nelson (News - Alert) and William McNee, president and CEO of Saugatuck Technology and former head of global research strategy for Gartner.

 

To learn more about how NetSuite (News - Alert) can help CFOs cut costs, please visit: http://www.netsuite.com/portal/landing/cfo/main.shtml.

 

Also at the event, a panel of financial leaders who have benefited from NetSuite’s ability to improve their bottom line, will share real-life examples. Speakers include Anne Massey, CFO, Cover-All Technologies; Don Dumont, Director, Digital Accounting, Iron Mountain (News - Alert); Greg Ho, COO, Spring Mountain Capital; and Alex Diaz-Asper, CFO, TARP Worldwide.

 

After the event, NetSuite will ring the closing bell on the NYSE trading floor.

 

With today’s challenging economic situation, CFOs are under intense pressure to help their businesses overcome financial obstacles, and continue operations in a time when many companies are going under.

 

However, instead of focusing on operational finance, top financial decision-makers can take advantage of the opportunity to drive business strategy. CFOs are being asked to make important decisions with far-reaching implications.

 

"Businesses are looking for short-term answers, but need to protect long-term prospects for healthy growth," said Jim McGeever, NetSuite CFO. "NetSuite is ideally positioned to help organizations embrace change while keeping total cost of ownership down, at costs substantially lower than competing solutions."

 

Customers of NetSuite are realizing they can gain significant return on investment (ROI) and cost savings by implementing NetSuite. NetSuite’s unique integration of enterprise resource planning (ERP)/accounting, customer relationship management (CRM), and Ecommerce capabilities in a single on-demand application has helped companies such as 2nd Wind Exercise Equipment, Circle of Friends, SixApart, Nomis Solutions, and TorStar Digital.

 

Achieving cost savings from some companies means finding ways to enhance productivity in the back office. With NetSuite's reliable, Software-as-a-Service (SaaS (News - Alert)) delivery, social networking provider SixApart saves $100,000 per year on an IT administrator position it would need to fill with a competing solution.

 

In addition, NetSuite's integrated, automated processes have cut days of effort out of each monthly closing cycle.

 

"For the small amount we pay each month, we get a global financial consolidation system that has all the power and features a company our size needs, and more," said Tod Harmon, SixApart CFO.

 

NetSuite delivers proven ROI, as

 

Tom Kelly, CFO of 2nd Wind Exercise Equipment also supports NetSuite’s ability to improve a company’s ROI.

 

"Our annual costs for NetSuite are about one-tenth of what we save with the solution each year," he explained.

 

By making the switch to NetSuite, 2^nd Wind Exercise Equipment has cut overhead costs by hundreds of thousands of dollars.

 

With NetSuite's ground-up integration of back office and customer-facing processes, a company’s CFO actively drive new and more profitable business.

 

"NetSuite has freed our talented people from the tether of their desks and allowed us to venture out in new ways to spend more time on the important business of generating profitable revenues for the company," said Brian Keare, CFO of Circle of Friends.

 

TorStar Digital CFO Jeff Sherman agrees that NetSuite significantly reduces costs.

 

"NetSuite gave us a single, unified environment where everyone involved in touching the customer has the same view -- and for us, that is a very big advantage," he said.

 

In a time of economic hardships, companies are forced to introduce new products and continue to come up with innovative ideas in order to succeed.

 

NetSuite OneWorld is the only on-demand system to provide real-time global subsidiary management and business consolidation capabilities. It provides the tools and structure needed to manage a coordinated global business.

 

"NetSuite OneWorld's power is that it forces you to have a global chart of accounts, which is critical for a company to run effectively," said Todd Spartz, vice president and CFO of Nomis Solutions. "We are able to consolidate any number of entities instantly, and can acquire or create new subsidiaries and bring them up to speed very quickly."