SAN MATEO, Calif., Jan. 30, 2014 /PRNewswire/ -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that Roku, maker of the most popular streaming platform for delivering video, music and games to the TV, has gained vital business agility with NetSuite's unified cloud business management system, allowing it to focus on product innovation, scale into new markets, and challenge larger rivals in the fast-growing market for on-demand entertainment. To ensure agility for innovation and growth, Roku replaced QuickBooks, Smart Turn and numerous Excel spreadsheets with NetSuite OneWorld's unified cloud-based business management software solution to manage its end-to-end business operations including revenue recognition, financials, customer relationship management (CRM), inventory management and order management. In addition, NetSuite OneWorld gives Roku the ability to manage items and pricing, as well as APIs to support Roku's transactions from multiple channels. With NetSuite OneWorld, Roku has saved countless hours in manual work previously required to process orders and provide speedy delivery. Roku has also reduced its monthly financial close time by 500 percent, while gaining the financial visibility and control that was not attainable with QuickBooks.
"NetSuite has allowed us to focus on delivering products and services instead of worrying about the IT side of things," said Neil Collins, NetSuite Business Systems Analyst, Administrator and Project Manager at Roku. "With NetSuite, we're able to scale the business very quickly and our visibility is tremendously improved. We now have strong financial controls and a solid infrastructure with great agility to respond rapidly to changing market conditions."
With NetSuite OneWorld central to its fast-growing and highly complex business environment, Roku has gained speed and cost-efficiencies across core financials, inventory management, order management, distribution and procurement processes that are critical to bottom-line business success. Roku streamlines transactions with more than 100 retailers, including Costco, Walmart, Target, Amazon and Best Buy, supported by an electronic data interchange (EDI) solution from NetSuite SuiteCloud Developer Partner, SPS Commerce for larger retailers. Multi-location inventory management helps Roku optimize stock levels and accelerate distribution from a northern California warehouse and a third-party logistics provider, while Roku has strong control over purchasing from dozens of suppliers and contract manufacturers. Real-time visibility into key customer, sales, inventory and other data enables Roku to pinpoint growth opportunities, identify areas for improvement and make better business decisions. Roku plans to expand beyond the U.S. market into Canada and the United Kingdom.
By avoiding the IT and administrative overhead typical of siloed on-premise applications, Roku is able to channel resources into developing innovative products and services. At the January 2014 Consumer Electronics Show in Las Vegas, Roku announced the Roku TV, a smart TV designed to give consumers a simple entertainment experience in a complex connected world. The business agility that Roku has gained with NetSuite provides an important edge in delivering the Roku TV and competing with larger rivals in the smart TV market such as Samsung, LG, Sony and Google.Roku's Collins outlined his company's experience with NetSuite at a January 7 NetSuite webinar, "Maximize Business Value with Cloud-Based ERP," also featuring Mike Fauscette, Group Vice President, Software Business Solutions at analyst firm IDC. To hear a recording of the webinar, please click here . 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 excels at streamlining business operations as demonstrated in a recent Gartner study naming NetSuite as the fastest growing financial management software vendor on a global basis. 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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV