SAN MATEO, Calif., May 13, 2013 /PRNewswire/ -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced that it is has been named the fastest growing financial management software vendor globally in 2012, according to the latest research on Financial Management Software (FMS) from Gartner Inc., Market Share: All Software Markets, Worldwide, 2012, published on March 29, 2013. NetSuite has been named the fastest growing financial management software vendor in North America for the last four years and in 2012, became the fastest growing vendor on a global basis, according to the leading industry analyst firm.
NetSuite demonstrated significant market share gains on many metrics according to Gartner's latest research on Financial Management Software:
- NetSuite's 2012 global growth rate of 49 percent was entirely organic, significantly outperforming its closest competitors', some of whom relied on acquisitions to gain customers.
- NetSuite is the only pure cloud company among the Top 15 global FMS vendors.
- NetSuite's growth rate was more than four times the growth rates of legacy competitors combined.
- NetSuite's growth continues to build upon prior successes as its overall share of the global FMS market jumped to number 12.
- In the mature APAC market, which Gartner defines as Australia, Singapore, New Zealand and Japan, NetSuite has been the fastest growing FMS vendor in the top 10 for the last three years and ranks tenth in market share in the region.
- NetSuite was the fastest growing FMS vendor in the UK, ranking ninth in market share where it is the only pure cloud FMS vendor.
"The migration to cloud ERP is in full force, not just in North America, but everywhere as NetSuite's growth and market share numbers clearly demonstrate," said Zach Nelson, CEO of NetSuite. "Thousands of businesses have seen the benefits of moving to NetSuite's agile, scalable comprehensive suite software that is easy to use and deploy. Across the world, companies are realizing they no longer need to be held back by the antiquated on-premise software of another age and NetSuite is leading them forward."
Today, more than 16,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-class cloud financials/ERP suites for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. NetSuite continues its success in delivering the best cloud ERP/financials suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud is accelerating.