NetSuite, Inc., the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that Tableau Software, 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 (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, Ireland, Japan, Singapore, Australia, Canada, and 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.
"As we see more software startups launch their businesses on NetSuite, we also continue to announce amazing customer success stories of rapid global growth like Tableau Software, who has leveraged NetSuite's advanced revenue recognition, recurring revenue management, multicurrency and out of the box multinational tax compliance to drive their business growth," said Dan Miller, General Manager of the Software Vertical at NetSuite. "What Tableau has achieved with NetSuite OneWorld as its system of record is remarkable and solidifies the power of NetSuite’s single unified cloud global business management solution."
About Tableau Software
Tableau Software (NYSE: DATA) helps people see and understand data. Tableau helps anyone quickly analyze, visualize and share information. More than 15,000 customer accounts get rapid results with Tableau in the office and on the go. And tens of thousands of people use Tableau Public to share data in their blogs and websites.
Tableau and Tableau Software are trademarks of Tableau Software, Inc. All other company and product names may be trademarks of the respective companies with which they are associated.
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 (netsuite.com) 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.
NetSuite and the NetSuite logo are service marks of NetSuite Inc. Third-party trademarks mentioned are the property of their respective owners.