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May 22, 2008

CRM Provider NetSuite Intros OneWorld Company Edition

By David Sims, TMCnet Contributing Editor


NetSuite (News - Alert) has announced the release of NetSuite OneWorld Software Company Edition. This latest offering, company officials say, gives users "the ability to run and manage integrated end-to-end software business processes spanning global operations."
 
This new edition includes all the capabilities of NetSuite OneWorld -- announced in April 2008 — which lets companies run global operations in real-time, and includes features such as renewals automation, revenue recognition, complex commission management and multi-tier channel management.

To address accounting and reporting requirements, historically many software companies have purchased multiple applications to run their software business operations. "This fragmented approach typically is costly, can lead to a higher rate of errors in calculating financial results, and can result in less favorable customer experiences, particularly at the time of renewal," NetSuite officials say.
 
NetSuite OneWorld Software Company Edition can "cater to any business model, from subscription billing to traditional software licensing," company officials say.
 
Zach Nelson (News - Alert), CEO of NetSuite, said "we know how a global software company works because we are one, and we have been successfully using our own software to operate our business for the past 10 years."

The product is pitched as delivering "deep and locally or nationally appropriate functionality" — currency, taxation, language, reporting, revenue recognition, dashboards  — with "real-time subsidiary management and business consolidation capabilities."
 
For the renewal process, the NetSuite product has installed-base tracking capabilities from multiple license types for systems, users, environments and modules, to maintenance agreements, customer support terms, start and end dates, contract statuses and monitoring of end-of-life, upgrades and downgrades.
 
Available now, OneWorld begins at a base price of $4,998 per month, which includes renewals management and multi-tier channel management functionality, along with vertical-specific dashboards and best practices. Commissions functionality (Incentive Compensation) is an add-on module at $299 per month.
 
Earlier this month NetSuite announced operating results for its first quarter ended March 31, 2008, characterizing it as "record revenue" for the first quarter ended March 31, 2008.
 
Total revenue for the first quarter was $34.1 million, a 47 percent increase over the first quarter of 2007, and an eight percent increase over the fourth quarter of 2007. The first quarter of 2008 marked the 34th consecutive quarter of increased revenue for NetSuite, company officials pointed out.
 
On a GAAP basis, net loss for the first quarter of 2008 was $(2.0 million), or $(0.03) per share, compared to $(9.3 million), or $(1.24) per share in the first quarter of 2007, "an improvement of 78 percent," NetSuite officials said.
 
Net loss on a non-GAAP basis for the first quarter of 2008 was $(420,000), or $(0.01) per share, compared with $(2.3 million), or $(0.04) per share in the first quarter of 2007, 82 percent better.
 
Revenue from the Americas for the first quarter of 2008 was $27.8 million, while revenue from international regions outside of the Americas was $6.3 million.
 
David Sims is a contributing editor for TMCnet. To read more of David’s articles, please visit his columnist page. He also blogs for TMCnet here.
 

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