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NetSuite Powers 'Best-of-the-Best' Professional Services Organizations

Stocks in this article: N





SAN JOSE, Calif., May 13, 2014 /PRNewswire/ -- NETSUITE SUITEWORLD 2014 -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel software suites, today announced its professional services automation (PSA) and services resource planning (SRP) solutions are in use at seven of the professional services organizations identified as "Best-of-the-Best" by Service Performance Insight (SPI Research), the leading research consultancy in the professional services industry. The findings are included in the SPI Research 2014 Professional Services Maturity Benchmark, an in-depth report based on a study of 238 professional services firms.

Of the 238 participating organizations, the "Best-of-the-Best" firms outperformed their peers and the benchmark average with significantly higher profit and per-project revenue, more satisfied clients and better service execution, SPI Research reported. The seven top performers running NetSuite are Agencyport Software, Campus Management, Charles River Development, EAC Product Development Solutions, Informatica, TopDown Consulting and TOP Step Consulting. These organizations - representing more than half of the "Best-of-the-Best" - use either the NetSuite OpenAir PSA solution or NetSuite SRP, which integrates OpenAir with NetSuite ERP for end-to-end cloud-based business management, covering project management, resource optimization, project accounting, time-and-expense management, and billing and revenue recognition.

"SPI Research believes all project-oriented businesses should consider making the move to an integrated application suite now so they will be able to capitalize on the market as the economy continues to improve," said Jeanne Urich, SPI Research Managing Director. "NetSuite is certainly an important element of the secret sauce brewed by more than half of the 'Best-of-the-Best' service organizations."

According to SPI's report, the "Best-of-the-Best" firms averaged net profit of 30.2 percent, compared to 9.8 percent among all others. "These extraordinary figures are a direct result of integrated business applications," Urich said. "Integrated business applications are a catalyst for improving maturity as they provide real-time visibility to all aspects of business performance."

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