Free press releases distribution network?

More news: Software
Agency / Source: NetSuite, Inc.

Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Netsuite Answers the Bell for Financial Services Companies Facing Challenges and Change - Prudential, Vanguard, MetLife, Federal reserve of Cleveland and more tap the power of the NetSuite cloud
Netsuite Answers the Bell for Financial Services Companies Facing Challenges and Change


PRZOOM - /newswire/ - San Mateo, CA, United States, 2011/10/14 - Prudential, Vanguard, MetLife, Federal reserve of Cleveland and more tap the power of the NetSuite cloud. NYSE: N; ORCL

Your Banner Ad Here instead - Showing along with ALL Articles covering Software Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


NetSuite, Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced that a growing number of financial services firms are turning to NetSuite cloud solutions for managing their core financial business operations. This growing list includes a spectrum of financial services companies including MetLife, Prudential, Vanguard, Federal Reserve of Cleveland and Virgin Money. Financial Services companies will lead the adoption of cloud computing software through 2015 over other industry sectors, consuming a fifth of cloud solutions globally (Gartner: Forecast: Public Cloud Services, Worldwide and Regions, Industry Sectors, 2010-2015, 2011 Update), and the NetSuite cloud is the leading cloud solution for financial services firms to revitalize and modernize their ERP systems in the face of unprecedented margin, competitive and regulatory pressures. At a special event to be held at the New York Stock Exchange on October 14, NetSuite financial services customers are gathering to reveal how the cloud has transformed their operations.

Facing increasing competitive pressures as well as a storm of new worldwide regulations, financial services firms need solutions they can trust to help them manage painful transformations in the months and years to come. Already, regulations such as BASEL III and the Dodd-Frank Wall Street Reform and Customer Protection Act are leading to demands for increased transparency, while constraining margins. In addition, merger and acquisition activity is on the rise. In 2010 in the US alone, there were 115 mergers and acquisitions in banking, and nearly 150 in the investment and insurance industries. The NetSuite cloud ( delivers a way forward for financial services firms having to decide how to handle newly acquired, non-integrated systems– enabling them to drive the bottom line by reducing TCO versus costly on-premise systems, effectively adapting more efficiently to a rapidly changing environment resulting from mergers and acquisition, to deliver real-time global visibility and transparency.

"Financial services firms need to withstand increased regulatory scrutiny and expand their financial visibility while opening up emerging markets and new channels," said Jim McGeever, Chief Operating Officer, NetSuite. "There is no question that NetSuite can deliver on these requirements far more quickly, efficiently and accurately than a legacy, on-premise ERP solution. Requirements are simply changing too quickly for on-premise software to cope."

The NetSuite Cloud: Uniquely Suited to the Challenges Financial Services Companies Are Facing:

• Drives Profitability Amidst Margin Pressures: NetSuite's cloud computing architecture enables financial services firms to slash IT spending by 50 percent or more, compared to the cost of upkeep and maintenance on traditional, on-premise software. That is just one of the reasons why, according to Gartner, financial services will lead the consumption of cloud services worldwide through 2015. Gartner forecasts that 20.7 percent of cloud services will be consumed by financial services through 2015 (Source: Forecast: Public Cloud Services, Worldwide and Regions, Industry Sectors, 2010-2015, 2011 Update).
• Adapt to M&A and Regulatory Change: NetSuite OneWorld and cloud computing are ideally suited to adapt systems to the rapidly changing environments found with mergers and acquisitions. NetSuite's powerful "two-tier" deployment option enables the deployment of cloud ERP solutions to new subsidiaries, across currencies and geographies with unprecedented speed and low cost, while real-time visibility and reporting underpins a new era of transparency and compliance in financial services, ensuring a smoother transition.
• Improve Client Experience in a More Globally Competitive Environment: In an increasingly competitive environment, efficiently driving client satisfaction and retention is key. NetSuite OpenAir cloud resource and services management ensures the efficient management and use of financial advisors across offices and geographies to both enhance margins and improve client satisfaction.

Financial services companies already benefiting from NetSuite solutions include:

• BTIG LLC (, is a specialist in global trading and brokerage services for hedge funds and mutual funds. As BTIG has continued its growth, it was looking to upgrade and enhance its accounting, financial and reporting systems and process for its global group of companies. BTIG selected NetSuite OneWorld for its entire group of companies and since implementing, BTIG enjoys a single, unified global system with seamless support for 20 worldwide currencies. NetSuite OneWorld has streamlined regulatory filings, slashed the time for monthly and annual financial closing by over 60 percent, and reduced management reporting time from two days to a fraction of a day. "NetSuite OneWorld gives us true global visibility and reporting at the push of a button," says Brian Endres, BTIG's Chief Financial Officer. "And its efficiencies have made it possible for us to continue to grow our business without expanding headcount."
• Spring Mountain Capital (, is a private investment management firm with approximately $2 billion in assets under management. Spring Mountain replaced QuickBooks with NetSuite to gain strong out-of-the-box reporting, clear visibility into financial performance, and hassle-free access from multiple locations. Adopting NetSuite has enabled Spring Mountain to minimize the IT resources dedicated to ERP, give remote employees a simple and reliable interface for expense reporting, and have access to constant, seamless upgrades. "NetSuite gives us the visibility and transparency we value and our auditors require," said Lynn Hui, Spring Mountain's Controller. "It gives us a superior reporting solution and enables us efficiently to expand our business."
• Virgin Money Australia (, offers a wide range of financial products. The company wanted to bring its outsourced accounting services in-house without the high capital expense of infrastructure and software. NetSuite was the flexible, adaptable and cost-effective solution for Virgin Money's needs. With NetSuite, Virgin Money Australia has avoided cumbersome paper trails, automated bank reconciliations and made it easy to add new product lines. "NetSuite OneWorld has the multi-company capabilities and Web-based nature that make it ideal for our business requirements," said Peter Lynar, Virgin Money Australia Senior Financial Accountant. "NetSuite optimizes our efficiency, which is important because if we can do all of our processes better and more cost-effectively, we can pass the savings on to customers."
• Prudential Locations LLC (, is a multi-faceted real estate company serving the Hawaiian market. The firm was looking for a solution to integrate with the Prudential Web portal, to provide its agents with more powerful customer data for closing deals. NetSuite CRM+ delivered tight integration between the company's back-end processes and customer-facing Web portal, and enables agents to manage significantly more relationships than was previously possible. "We've been using NetSuite CRM+ for over two years, and have increased our usage to approximately 300 users," said Dan Tabori, EVP of Business Operations, Prudential Locations. "NetSuite was the right choice for our growing company."
• Charles River Development (, provides software, hosting and data services to automate front- and middle-office investment operations for buy-side firms. Implementing NetSuite OpenAir gives Charles River's professionals robust mobile access to a comprehensive time-entry solution and accelerates the submission and approval process. "Using Open Air's mobile time solution globally has allowed us to cut six days off of the month-end approval process," said Ben Gamer, Director, Client Services, Charles River Development. "Having mobile-based time entry & approvals provides our Professional Services with more time to focus on our clients and less time on administration."

Follow NetSuite's Cloud blog, NetSuite's Facebook page and @NetSuite Twitter handle for real-time updates.

NetSuite and the NetSuite logo and where business is going are registered service marks of NetSuite Inc.

Your Banner Ad Here instead - Showing along with ALL Articles covering Software Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


Agency / Source: NetSuite, Inc.


Availability: All Regions (Including Int'l)


Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker


Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

# # #
Software Warnings - IMPORTANT:
Always be aware/cautious about what you download on your computer/mobile! PURCHASE SOFTWARE related keywords / Banner Ads. Click HERE for details!

  Your Banner Ad showing on ALL
Software articles,
CATCH Visitors via Your Competitors Announcements!

Netsuite Answers the Bell for Financial Services Companies Facing Challenges and Change

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
Contact: Mei Li - 
650-627-1063 meili[.]
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any NetSuite, Inc. securities in any jurisdiction including any other companies listed or named in this release.

Software via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Read Latest Press Releases From NetSuite, Inc. / Company Profile

Read Software Most Recent Related Press Releases:

IBM and Dream Payments Expand Payment Services on the Cloud to U.S. Financial Institutions
Oracle Financial Services Transaction Filtering Now Available
OneLogin Announces Real-Time Offboarding for Workday to Mitigate Risk of Company Data Theft
Altitude and Comways Announce AI-Powered Case Management for Omnichannel Customer Engagement
IBM Introduces Industry Platform Designed Specifically for Insurers
eClinicalWorks Announces Capability to Connect to Multiple Specialty Registries through Partnership with FIGmd
RISE Commercial Property Services Adopts the Yardi Commercial Suite
Saba Advances Talent Management Leadership with New Capabilities in Saba Cloud and TalentSpace Platforms
eClinicalWorks Announces the Support of Patient Access to Physician Notes through OpenNotes
ForeScout and CrowdStrike Form Strategic Alliance to Deliver Advanced Endpoint and Network Threat Protection

Boost Your Social Network
& Crowdfunding Campaigns

NewswireToday Celebrates 10 Years in Business
Find business coaching, life coaching, executive coaching and corporate coaching, best selling coaching books, ...


Visit  NAKIVO, Inc.

Visit  RightITnow Ltd

Visit  La Bella Bakery Artisan Bakery Arizona

  ©2017 PRZOOM — Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution freenewswiredistribution asianewstoday bizwiretoday USA pr UK today