NetSuite among world’s ‘most innovative’ companies

NetSuite has been named as one of the most innovative companies in the world in Forbes magazine’s latest list of the top 100 growth firms, beating out competition from multiple sectors to be named as number two in the table.
The list – which is for firms that have seven years of public financial data and under $10 billion (£5.97 billion) in market capitalisation – showcases those companies that are at the cutting edge of the industry and which investors can expect to maintain their high standard of innovation now and in the future.
Unlike many such lists, which Forbes describes as “popularity contests based on past performance or editorial whims”, the World’s Most Innovative Growth Companies list looks at a range of key metrics including projected incomes from existing business, anticipated future growth and the net present value of its cash flows.
Calculations are then used to derive a company’s ‘Innovation Premium’, which is essentially the premium investors give to a company based on their expectations it will continue to launch new offerings and move into new markets to generate new income streams. The higher the number – on a percentage scale – the more optimistic the market is about the performance of the company.
Based on this, it seems investors are hugely enthusiastic about NetSuite, as its Innovation Premium of 89 per cent placed it second in the list. This reflects the work NetSuite does to ensure it’s always offering the most innovative and up-to-date technologies to customers through its comprehensive range of cloud-based accounting, customer relationship management (CRM), professional services automation and eCommerce applications.
And the good news for NetSuite doesn’t stop there. While it only just missed out on top spot in the list to online accounting system provider Xero – which registered an Innovation Premium of 91.7 per cent – it still plays a key role here. Xero actually uses NetSuite’s applications to manage its own financials, with it taking advantage of tools such as recurring billing, demand forecasting, CRM and more, to help support its activities.
This is just one example of how the world’s most innovative companies can make their operations run much more smoothly with NetSuite’s technology. And with more than 20,000 companies relying on NetSuite to manage their day-to-day operations, you can expect the tools to be at the heart of many of the world’s leading enterprises in the years to come.
The World’s Most Innovative Growth Companies list can be found here.
If you would like to know more about NetSuite and how it could help support your firm’s innovation, please get in touch with our team of experts.
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