NetSuite Inc., a leading vendor of on-demand, integrated business management software suites for mid-market enterprises and divisions of large companies, today announced the industry's first and only on-demand business management software suite for the overall management of a professional services business — from marketing to project management, service delivery, billing, revenue management and driving repeat business from existing clients. NetSuite Services Resource Planning (SRP), specifically designed for the more demanding and global needs of enterprise-class services organizations, features integration with services automation technology from OpenAir, a Boston-based company acquired by NetSuite in June 2008. Unveiled on Tuesday, October 14 at the OpenAir User Summit in Boston, NetSuite SRP is a powerful solution that has the potential to do for services businesses what SAP's R/3 software did for the manufacturing industry in the early 1990s with its pioneering work in establishing best practices for Enterprise Resource Planning (ERP).
"NetSuite and OpenAir, when fully integrated, provide a complete enterprise solution for project-based businesses, and the first and only SaaS application on the market to address their end-to-end process needs," said Mike Fauscette, Group Vice President for Software Business Solutions at IDC. "IDC research shows the market opportunity around automation for project-based businesses growing to $1.5 billion by 2010 and the integrated offering of NetSuite and OpenAir is ideally suited to address that market need."
"With the integration of NetSuite and OpenAir products, we have delivered the first on-demand application for Services Resource Planning (SRP), moving the goal posts to go well beyond what most think of today as professional services automation," said Zach Nelson, CEO of NetSuite. "NetSuite SRP delivers the 'Holy Grail' of applications to run a complete services business and really sets a new standard for functionality, ease of deployment and overall price/performance. I can't imagine a services business today trying to compete without this technology at their disposal."
As an on-demand suite, NetSuite SRP delivers a SaaS business solution tailored specifically to address the needs of the services industry for managing their marketing, sales, customer service, service delivery and finance operations. The benefits of NetSuite SRP include:
• Lower TCO — Reduced total cost of ownership results from deploying a SaaS suite for all core aspects of a project-based business, due to eliminated hardware, maintenance and IT personnel costs.
• Real-Time Visibility — With NetSuite SRP, data about customers with booked projects flows dynamically from sales to the services department; data about invoices and expenses resulting from service delivery then flows from services to the finance and sales departments. This gives everyone in the organization the real-time visibility required to deliver the best client management possible.
• Flexible and Tailorable Business Processes — Redundant data entry is eliminated with the seamless integration between NetSuite and OpenAir, saving valuable time and increasing productivity. In addition, business processes are tailored around best practices for end-to-end management of services organizations and can be customized to accommodate specific business rules and workflows with NetSuite's SuiteFlex tools.
• Metrics-Driven Management — Services organizations can manage their businesses by key metrics and be empowered to make timely, fact-based course corrections with dashboard analytics ranging from resource and project management, to key performance indicators (KPIs), graphical report snapshots, trend graphs and KPI scorecards.
• Global Support and Enterprise Scalability — NetSuite SRP offers enterprise scalability without the worry or cost of continuous uptime monitoring, system backups and performance tuning, thanks to an isolated-tenancy dedicated database, "sandbox" test environment, and 24x7 global customer support.
ISI Uses NetSuite and OpenAir to Streamline Operations
ISI — Imaging Solutions Inc. (imagesolutions.com) — is headquartered in Whippany, New Jersey and is a global provider of software and services for electronic document processing to organizations with mission-critical information such as the pharmaceutical industry. Founded in 1992 and celebrating 15 years of pioneering the electronic submission of documents, ISI is now a recognized leader in the area of electronic submissions of new drug applications (NDAs) to the FDA. Prior to the availability of NetSuite SRP, ISI was experiencing rapid growth with a four-fold increase in revenue over three years and a doubling of consulting staff that left their previous systems unable to keep up with the company's expanding needs for consistent project management, time tracking, billing and revenue recognition. With the NetSuite-OpenAir solution in place, consulting professionals have easy and fast access to project management data and are delivering improved and consistent service to clients thanks to streamlined processes between the different services departments. In addition, ISI's finance department has more visibility into accounting data coming from service operations and has been able to streamline time and expense management.
"OpenAir and NetSuite have helped us simplify and streamline our project management, time tracking, expense management, budgeting, and accounting operations across all of our services," says Brian Van Dine, Director of Global Services at ISI. "As a result, we have boosted internal productivity, increased employee utilization, enhanced our corporate image, and strengthened customer relationships."
Pricing and Availability
NetSuite SRP is available now. The integration to OpenAir is included with NetSuite SRP at no additional charge. Product pricing information is available upon request and can vary based on customer requirements.
NetSuite Inc. (netsuite.com) is a leading vendor of on-demand, integrated business management software suites for mid-sized businesses and divisions of large companies. NetSuite enables mid-market companies to manage core business operations in a single system, which includes accounting / enterprise resource planning (ERP), customer relationship management (CRM), and Ecommerce. NetSuite's patent-pending "real-time dashboard" technology provides an easy-to-use view into up-to-date, role-specific business information.
NOTE: NetSuite and the NetSuite logo are registered service marks of NetSuite Inc.
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