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TheStreet Open House

NetSuite Guides Lonely Planet To The Cloud

Stocks in this article: N

SYDNEY, Oct. 29, 2013 /PRNewswire/ -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that Lonely Planet, the world's largest travel guidebook publisher, has selected NetSuite OneWorld to replace SAP R/3 4.7 and Salesforce.com as its business management software globally, as part of a broader IT strategy to move to the cloud to achieve a more flexible and nimble IT operation. Lonely Planet plans to deploy NetSuite OneWorld to better manage its core business processes, including financials, customer relationship management ( CRM), demand planning, project management, warehousing and manufacturing. NetSuite OneWorld also provides multi-subsidiary, multi-language and multi-currency support that will allow Lonely Planet to manage its operations in real time by consolidating financials for five to ten different currencies, automating reporting and performing cost of sales analytics in Australia, the US, UK, India, China and new markets it enters.

Established in Melbourne more than 40 years ago, Lonely Planet is one of the world's most successful travel publishers, with 350 employees, 200 authors and more than 120 million books printed in 11 different languages. It is the number one travel guide book brand in the US, Australia and the UK, with more than 150 million unique users visiting its website every year and more than 11 million apps downloaded. Like the rest of the publishing industry, information consumption has changed considerably in the past decade, which has forced Lonely Planet to change its business model to remain relevant, as the traditional book industry declines. Despite these challenges, Lonely Planet has and will continue to evolve and help shape the future of travel.

"The reality of fast-changing market conditions means we need to stay ahead to generate future revenue and remain relevant," said Gus Balbontin, CTO of Lonely Planet. "This is the main driver for moving our entire IT strategy to the cloud, so we can gain greater flexibility to move quickly with the market as it changes, and to expand our footprint globally. With our business model changing in such a big way, we can't rely on a heavily customised and costly ERP solution to give us the agility we need. This is why we turned to NetSuite to give us the required flexibility, speed and agility to more easily achieve our broader growth strategy."

Lonely Planet reviewed a number of cloud solutions in the market, but found NetSuite was the only company that could provide all the ERP components it required in a single solution. NetSuite OneWorld delivers real-time global business management and financial consolidation at a fraction of the cost of traditional on-premise ERP solutions. It also provides numerous benefits for global businesses like Lonely Planet, driving finance and operational efficiency, delivering real-time visibility and consolidation, and providing flexibility for customisation to corporate and subsidiary needs. The move to NetSuite OneWorld will enable Lonely Planet to align operations across finance, sales and service, while seamlessly handling complex taxation rules and reporting requirements for the five countries it has a footprint in, all from a single solution.

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