Oct, 2009 : NetSuite Introduces NetSuite OneWorld SRP
📅 - Delivers global visibility, resource optimization and integrated financial management across currencies, subsidiaries, projects and geographies.
NetSuite Inc., a vendor of cloud computing business management software, today announced the availability of NetSuite OneWorld SRP, the first end-to-end cloud business management solution for global services businesses. The company says that NetSuite OneWorld SRP gives global services businesses comprehensive real-time visibility, integrated financials, resource optimization and services management from corporate, to subsidiaries, down to the individual project level across geographies, currencies, and tax jurisdictions.
It explains that services-based businesses - whose revenue is primarily derived from delivering time and project-based consulting offerings - comprise a large segment of the global economy, particularly in developed nations. These companies face an array of complex and volatile business dynamics - widely fluctuating local demand for resources, global pricing pressure and revenue recognition management constraints of complex, locally negotiated services delivery contracts. In this context, making bad decisions can significantly impact profitability, cash flow and customer satisfaction.
The company further explains that unlike manufacturing-based industries, global services businesses have lacked the integrated business management tools necessary to truly manage corporate performance on a global basis. Spreadsheets and homegrown systems offer an opaque view into subsidiaries and divisions, making it difficult to weed out unprofitable projects. Finding the right resource with availability to work on a project can be like finding a needle in a haystack. Gauging demand and backlog across geographies is a guess at best.
"Most services businesses today run on software designed before the World Wide Web existed," said Zach Nelson, CEO of NetSuite. "NetSuite OneWorld SRP brings services companies into the Internet Age, and in so doing massively reduces cost while improving productivity. Instead of waiting three months to find out what happened yesterday with a given project or subsidiary entity, with NetSuite OneWorld SRP services-based businesses can finally manage their operation in real-time."
"The combination of cloud computing and Services Resource Planning provides global services businesses with a powerful solution to manage the key drivers of any services business - revenue, utilization, profitability and days-sales-outstanding," said Michael Fauscette, GVP of Software Business Solutions at IDC. "NetSuite OneWorld SRP is the most complete, end-to-end cloud-based business management suite that provides global services businesses with real-time visibility, resource management and operational control, across subsidiaries, currencies and geographies."
NetSuite Inc., a vendor of cloud computing business management software, today announced the availability of NetSuite OneWorld SRP, the first end-to-end cloud business management solution for global services businesses. The company says that NetSuite OneWorld SRP gives global services businesses comprehensive real-time visibility, integrated financials, resource optimization and services management from corporate, to subsidiaries, down to the individual project level across geographies, currencies, and tax jurisdictions.
It explains that services-based businesses - whose revenue is primarily derived from delivering time and project-based consulting offerings - comprise a large segment of the global economy, particularly in developed nations. These companies face an array of complex and volatile business dynamics - widely fluctuating local demand for resources, global pricing pressure and revenue recognition management constraints of complex, locally negotiated services delivery contracts. In this context, making bad decisions can significantly impact profitability, cash flow and customer satisfaction.
The company further explains that unlike manufacturing-based industries, global services businesses have lacked the integrated business management tools necessary to truly manage corporate performance on a global basis. Spreadsheets and homegrown systems offer an opaque view into subsidiaries and divisions, making it difficult to weed out unprofitable projects. Finding the right resource with availability to work on a project can be like finding a needle in a haystack. Gauging demand and backlog across geographies is a guess at best.
"Most services businesses today run on software designed before the World Wide Web existed," said Zach Nelson, CEO of NetSuite. "NetSuite OneWorld SRP brings services companies into the Internet Age, and in so doing massively reduces cost while improving productivity. Instead of waiting three months to find out what happened yesterday with a given project or subsidiary entity, with NetSuite OneWorld SRP services-based businesses can finally manage their operation in real-time."
"The combination of cloud computing and Services Resource Planning provides global services businesses with a powerful solution to manage the key drivers of any services business - revenue, utilization, profitability and days-sales-outstanding," said Michael Fauscette, GVP of Software Business Solutions at IDC. "NetSuite OneWorld SRP is the most complete, end-to-end cloud-based business management suite that provides global services businesses with real-time visibility, resource management and operational control, across subsidiaries, currencies and geographies."
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