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SAN MATEO, Calif.,
Nov. 14, 2013 /PRNewswire/ -- NetSuite Inc. (NYSE: N), the industry's leading provider of
cloud-based financials /
omnichannel commerce software suites, today announced that Tableau Software (NYSE: DATA), a global leader in rapid-fire, easy-to-use business analytics software, has implemented NetSuite OneWorld to support its global business growth. NetSuite OneWorld, implemented in 2011, builds on the success that Tableau Software (
www.tableausoftware.com) has achieved since its initial NetSuite deployment in 2008.
Strong financial controls, end-to-end transparency and auditability within NetSuite OneWorld positioned Tableau to prepare for and execute their initial public offering in
May 2013. Tableau is among a growing number of customers who as startups – seven of whom went public in 2013 - selected NetSuite's single, integrated cloud solution for its scalability, agility and flexibility, to avoid the disruption of upgrading software and servers in the middle of a rapid growth curve.
"It was very important to have a solution that could scale and grow with us — a SaaS solution that we could implement and not have to revisit years down the road," said
Tom Walker, Tableau Chief Financial Officer. "Having NetSuite in place absolutely helped us with our IPO because we had a sound financial management platform. NetSuite is reliable, it's organized, it can be counted on and it's made a lot of things so much easier."
"Now that we're on NetSuite OneWorld, it's an amazingly efficient way to manage our global finances and operations," Walker said. "OneWorld is probably the easiest financial consolidation package I've ever used."
Tableau deployed the NetSuite OneWorld global business management solution to help power its international expansion with capabilities for global financial consolidation and reporting, and management of multiple subsidiaries across the US, the UK,
Germany. Tableau is taking advantage of NetSuite's sophisticated
revenue recognition functionality tailored for software companies to allow them to better manage diverse revenue streams, including perpetual, subscription and traditional term licensing. NetSuite's data export features have enabled the company to easily move data into Tableau's own business analytics software for ad hoc analysis and data-driven decision-making.
Tableau made the strategic decision to adopt NetSuite OneWorld rather than cobble together a host of disparate on-premise applications that would likely result in high IT costs for deployment and maintenance, perpetual headaches in managing data in a fragmented infrastructure and time-consuming manual work. Tableau selected NetSuite OneWorld after determining that a cloud platform was best suited for its needs and vision to grow the company towards an eventual IPO. Tableau is also taking advantage of NetSuite's rich customization capability available through the SuiteCloud Development Platform and a robust network of SuiteCloud Developer Network (SDN) partners offering complementary solutions. For instance, Tableau has deployed a sales tax compliance and remittance solution from SDN partner Avalara, integrating it with NetSuite Financials.