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January 25, 2008

CRM's NetSuite Reseller Skyytek Cracks Top 100

By David Sims, TMCnet Contributing Editor


Skyytek Worldwide, a vendor for NetSuite (News - Alert) specializing in on-demand software distribution and implementation, was recently listed on the Accounting Technology 2007 list of 100 Pacesetters.
 
Largely known for its NetSuite ERP/CRM business process engineering and implementation, the company operates in the Software-as-a-Service space.
 
The winners of the Pacesetters 100 were chosen based on a variety of different criteria, award officials said, such as the handling and successful deployment of small and mid-market accounting products. Nearly all 100 companies chosen for the list are privately owned and operated.
 
Earlier this month Skyytek (News - Alert) Worldwide announced the launch of two Web sites for Athletic Marketing & Promotion. Skyytekkies say they're "among the first sites using CRM vendor NetSuite's Multi-Site feature."
 
What's that, you ask? NetSuite's Multi-Site feature lets companies integrate more than one branded site within NetSuite's on-demand ERP/CRM application. "As a result," company officials say, "the accounting, CRM, sales force automation and inventory management of multiple Web sites can be centralized in a single back-end system."
 
Athletic Marketing & Promotions sells sports merchandise to "two distinct sets of customers," AMR officials say, "St. Louis Rams football fans and St. Louis Cardinal baseball fans, and Kansas City Chiefs football fans and Kansas City Royals baseball fans." This reporter's guess is they don't hold mixed Christmas parties for their clients.
 
NetSuite's Multi-Site feature lets the company manage all of the back-office and front-office operations for multiple sites from one single back-end system, taking care of all accounting, order management, warehouse management, returns management, billing, customer support, marketing and sales force automation for different sites from one NetSuite account.
 
Late last month, according to news service FinancialWire, the underwriters of an initial public offering for NetSuite were given a $12.3 million bonus by exercising their option to buy extra shares of the Internet provider's stock.
 
Shares of NetSuite, which is owned in part by Oracle CEO Larry Ellison (News - Alert), shot up 36.5 percent after its IPO and it ended Wednesday at $36.20. Underwriters bought an additional 930,000 shares at $26 each.
 
The purchase increased the total public offering size to $185.4 million prior to the deduction of expenses paid by NetSuite. The company plans to us its IPO proceeds to retire a loan from Tako Ventures.
 
David Sims is a contributing editor for TMCnet. To see more of his articles, please visit his columnist page.
 
 
INTERNET TELEPHONY Conference & EXPO East 2008 (ITEXPO (News - Alert)) is going on now in sunny Miami, Florida! For the latest show news, please visit Rich Tehrani’s blog




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