NetSuite had a good week last week. They announced that HP Software has implemented NetSuite OneWorld; they had some great results for Q1, beating analyst estimates; and they announced their largest acquisition to date – a deal to buy cloud-based commerce marketing company Bronto Software Inc.
HP implements NetSuite OneWorld
NetSuite has announced that HP Software has opted for its global business management solution, NetSuite OneWorld, to replace four disparate on-premise legacy systems. The new deployment provides HP with flexibility, agility and scalability, and a real-time view of customer data across multiple business units and countries.
Supporting 15 countries, HP is using one single unified instance of NetSuite OneWorld to run mission-critical business processes including order-to-cash, revenue recognition, intercompany transactions, multi-country taxation compliance. and multi-currency (including the British Pound, the Euro, the Japanese yen, the Swedish krona, the Swiss franc, and U.S., Canadian, Australian, New Zealand, Singapore and Hong Kong dollars.)
“NetSuite has delivered an enterprise-class solution that’s enabling us to streamline complex revenue and billing processes and gain new insights into business performance,” said Paul Chapman, Chief Information Officer, HP Software. “The two-tier ERP implementation with NetSuite OneWorld is robust and elegant and provides us with new agility, flexibility and scalability in our management of the Software business.”
NetSuite Q1 results top estimates
Last week, NetSuite also announced results for its first quarter ended 31st March 2015, beating analyst estimates. Total revenue for the first quarter of 2015 was $164.8 million, representing a 34% increase over the same period in the prior year.
“NetSuite’s fiscal year 2015 started strong with record first quarter results, as we grew recurring revenue year-over-year by more than 30 percent for our eighth consecutive quarter, and beat our outlook on revenue, operating cash flow and non-GAAP earnings per share,” said NetSuite CEO Zach Nelson.
It’s an exciting time for NetSuite as Zach Nelson explained: “What’s even more exciting is that we are just at the beginning of a multi-year business system replacement cycle, as companies move from legacy, pre-Internet applications to NetSuite’s solution designed to run companies in a modern cloud-centric world.”
Largest acquisition to date
NetSuite also announced its largest acquisition to date last week – a deal to buy cloud-based commerce marketing company Bronto Software Inc. As the number one email marketing provider to retailers ranked on the Internet Retailer Top 1000, Bronto Software provides a commerce marketing automation platform used by more than 1,400 brands, including Armani Exchange and Timex.
“This combination, for the first time ever, ties a rich marketing automation system with a cloud-based omnichannel commerce platform. The capabilities this solution will deliver are transformational,” said Zach Nelson, NetSuite CEO.
As customers are increasingly demanding seamless cross-channel shopping experiences, they are expecting companies to communicate consistently through all of their digital experiences – on site, in store, in email or through social or mobile. By combining NetSuite’s and Bronto’s offerings and technology, merchants will be able to deliver relevant and consistent digital commerce experiences throughout the customer journey.
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