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 commerce software suites, today announced the next-generation services resource planning (SRP) solution, the first and only cloud suite that brings together the strengths of ERP and professional services automation (PSA) to enable project- and product-based businesses to run their entire business life cycle—from project management, resource management, time-and-expense management, to project accounting—all in one unified software solution, and the first and only solution that unites all of the functionality to meet the needs of product and services companies in one single system. The new release enables multi-model billing for service delivery across the services value chain from fixed fee, to milestone and to time-and-materials. Designed for tomorrow's businesses, NetSuite SRP also offers mobile and social capabilities that give on-the-go services professionals access to real-time business information anywhere, anytime and better collaboration across the organization. With functional richness and depth unmatched in the industry, NetSuite SRP also enables services organizations to customize the solution to their unique needs through the SuiteCloud Development Platform.
NetSuite's pioneering SRP solution enables both product- and project-based businesses to modernize and transform operations the way manufacturing resource planning (MRP) did for manufacturing businesses in the '90s. It helps organizations automate and manage key aspects of their business across the complete bid-to-bill lifecycle, giving them what they need to stay competitive, gain efficiency, deliver quality services and delight their clients.
With NetSuite SRP, modern services organizations will gain comprehensive visibility into back-office financials and front-office services operations in one unified system to increase project profitability, maximize billable resource utilization and make informed, data-driven, strategic and tactical decisions with powerful and insightful business metrics. The new NetSuite SRP suite also addresses global businesses' needs by giving them comprehensive real-time visibility, integrated financials, resource optimization and services management from corporate to subsidiaries, down to the individual project level across geographies, currencies and tax jurisdictions. For companies selling both services and products, NetSuite SRP supplies complete visibility and control over enterprise-wide processes with such capabilities as revenue recognition for diverse revenue streams, and unified billing across multi-model service and product delivery.