Ultimate Software (Nasdaq: ULTI), a leading cloud provider of human capital management solutions, and NetSuite (NYSE: N), the industry's leading provider of cloud-based financials/ERP and omnichannel commerce software suites — announced today a strategic alliance to integrate the UltiPro HCM solution and the NetSuite ERP suite, giving businesses the ability to manage their entire business lifecycle — from financials, supply chain, and customer relationship management (CRM); to payroll, HR, and talent management — through two of the industry's leading cloud solutions. Ultimate Software — a leading cloud provider of integrated payroll, HR, and talent management solutions, founded in 1990 and serving more than 19 million people records in the cloud — delivers the person-centered UltiPro HCM solution, which serves as the master system of record for all of an organization's people information, employee management, and workforce intelligence — from talent acquisition through retirement; including HR, payroll, benefits, time and labor management, performance, compensation, and succession management. NetSuite — the industry's leading provider of cloud-based financials/ ERP and omnichannel commerce software suites, founded in 1998 — delivers enterprise-class cloud ERP to approximately 24,000 companies and subsidiaries — including business solutions for finance, sales, marketing, services, supply chain, fulfillment, ecommerce, inventory and order management, and more. With the UltiPro and NetSuite solutions being widely recognized as two of the most comprehensive cloud solutions — offering some of the industry's deepest and most mature feature sets — this combination of leading cloud solutions will bring the industry an unprecedented level of end-to-end functionality across every area of the business. In addition to Ultimate announcing its integration of UltiPro HCM and NetSuite's cloud ERP platform, the two companies are now partnering to provide each other's customers solutions in the HCM or ERP space. "By connecting UltiPro's rich HR, talent, and payroll capabilities to NetSuite's suite of ERP applications, Ultimate and NetSuite offer businesses the ability to manage their entire spectrum of business technology needs through two of the most trusted cloud vendors in the world — while enjoying industry-leading functionality, scalability, and configurability — without requiring point solutions for different business applications," said Scott Scherr, chief executive officer of Ultimate. "Not only are both our solutions leaders in cloud business technology, but our commitment to culture and service to customers is highly aligned. We're excited to bring this partnership to the market."
"The combination of Ultimate's robust HCM functionality together with NetSuite's system of record for core operational processes provides our customers with a tightly integrated solution to run the core aspects of their business," said Zach Nelson, chief executive officer of NetSuite. "We're giving businesses of all sizes enterprise-class functionality, with the flexibility, scalability, and agility of the cloud."This announcement gives companies the option to simplify their business ecosystems and realize substantial increases in business operation efficiency. The integration of Ultimate's end-to-end HCM suite with NetSuite's comprehensive business management platform will offer significant benefits including:
- seamless movement of new hire data from the HCM/payroll system to the ERP system for immediate access to other business applications and end-to-end business processes
- reduced IT cost to integrate data between systems
- increased data integrity through elimination of duplicate data entry
- significant time savings
- ability to more easily access data across the full suite of business applications for reporting and analysis
- single sign-on for employees to access their HCM solution and any NetSuite business application such as CRM, supply chain, and financials
Follow Ultimate Software on Twitter: www.twitter.com/UltimateHCMFollow Ultimate Software on LinkedIn: http://linkd.in/UltimateHCM About NetSuite, Inc. Today, approximately 24,000 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 ERP/financials suites for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. NetSuite continues its success in delivering the best cloud ERP/financial 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. Follow NetSuite's Cloud blog, NetSuite's Facebook page and @NetSuite Twitter handle for real-time updates. For more information about NetSuite, please visit www.netsuite.com. NOTE: NetSuite and the NetSuite logo are registered service marks of NetSuite Inc. Third-party trademarks mentioned are the property of their respective owners. Cautionary Note Regarding Forward-Looking Statements: This press release contains forward-looking statements relating to expectations, plans, and prospects including expectations relating to the planned future strategic alliance between Ultimate Software and NetSuite to integrate Ultimate Software's UltiPro HCM solutions and the NetSuite ERP suite. These forward-looking statements are based upon the current expectations and beliefs of Ultimate Software and NetSuite management as of the date of this release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements including, without limitation, failure of Ultimate Software and NetSuite to reach agreement on the terms of the strategic alliance and move forward with the strategic alliance, and risks or delays associated with the integration of the UltiPro HCM solutions and the NetSuite ERP suite. All forward-looking statements in this press release are based on information available as of the date hereof, and Ultimate Software and NetSuite management disclaim any obligation to update these forward-looking statements.