SAN MATEO, Calif., March 13, 2012 /PRNewswire/ -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced a webinar designed to help software companies explore how cloud-based ERP can help address challenges unique to the software industry and support a rapid growth culture. The webinar, "Why Next-generation Software leaders leverage NetSuite for Cloud ERP," will feature executives of two fast-growing software companies, Datacert and HotSchedules, which both replaced disconnected on-premise applications and point solutions with NetSuite's cloud business management suite. The webinar will be held on Thursday, March 15, at 11:00 a.m. PDT ( 2:00 p.m. EDT). Register for the event at: http://www.netsuite.com/portal/email/webinar-software-success-030512-email_PR.html.
Software companies face unique business challenges, such as complying with complex revenue recognition rules, increasing revenue in recurring subscription and contract models, and achieving the real-time visibility needed to swiftly identify weaknesses and capitalize on opportunities across a global marketplace. For years, the effectiveness of software companies' financial and business operations was constrained by on-premise software and manual processes. On-premise software lacks the scalability needed by fast-growing, international businesses. Many software companies still rely on highly inefficient, spreadsheet-driven manual procedures to manage key business processes such as billing, purchases, expenditure approvals, financial reporting, contract renewal, professional services automation and revenue recognition. It's very costly to install and maintain traditional on-premise software, and the complexities of the systems don't scale with a growing employee base.
NetSuite delivers the right combination of scalability, flexibility and cost-effectiveness. NetSuite's cloud-based ERP suite is the solution of choice for the software industry, running critical business processes for hundreds of the most innovative software companies. The world's first and most powerful cloud ERP solution for complex, multi-national companies, NetSuite OneWorld meets the needs of global software companies with built-in support for real-time multi-subsidiary financial consolidation and reporting, multi-currency, multinational taxation rules and unified real-time views into the business performance of each and every subsidiary. NetSuite is uniquely positioned to serve today's best and brightest firms by providing an integrated, focused set of functionality for software companies. With NetSuite, software companies are able to focus on innovation and growth while enjoying streamlined billing and renewal processes, accurate financial reporting and the ability to meet revenue recognition requirements and comply with the Financial Accounting Standards Board (FASB) rules for multi-element sales, known as EITF 08–01 and EITF 09–03.