NetSuite Achieves Top PSA Software Ranking – Again
NetSuite Achieves Top PSA Software Ranking –
Again
NetSuite Customers Once Again Achieve “Best of the Best” in 2011 Professional Services Maturity Benchmark Report
NetSuite PSA and SRP Software Solutions Drive High Performance in Professional Services Organisations
SYDNEY and SAN MATEO, Calif. — 8 April 2011 — NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced that for the third consecutive year NetSuite leads the Professional Services Automation market as companies using NetSuite's OpenAir professional services automation (PSA) and services resource planning (SRP) software are among the highest performing when evaluated side-by-side against peer organisations. According to the SPI Research 2011 Professional Services Maturity Benchmark Report, NetSuite owns 20 percent of the market share, while the closest competitor has only 12 percent. To receive a complimentary copy of the full report, visit http://www.openair.com/Whitepapers/268.
Additionally, four
out of 12 “Best-of-the-Best” professional services
organisations participating in the study are using NetSuite
OpenAir software to manage key business processes across
project management, resource management and project
accounting. NetSuite OpenAir customers receiving top honours
include Advent Software, Informatica and TOP Step
Consulting. To learn more about how these companies are
achieving greater results using NetSuite software, please
view a recent webinar The
report surveyed more than 214 professional services
organisations (PSO) on a variety of operational best
practices. “Best-of-the-Best” honours go to the top 12
firms who have significantly outperformed the benchmark
average by scoring four out of five or better in all five
service performance dimensions in the SPI report—Vision,
Finance and Operations, Service Execution, Human Capital
Alignment and Client Relationships. Since the first
publication of the Professional Services Maturity Model
Benchmark Report in 2008, thousands of service and
project-oriented organisations worldwide have used it to
diagnose and improve their PSO performance. "SPI has
researched more than 610 services organisations to establish
this year’s benchmarking survey, which has raised the bar
quite high. It’s no surprise that the leading
organisations in the survey have a PSA or SRP solution in
place to bolster revenue growth, increase resource
utilisation and support globally diverse workforces,” said
Jeanne Urich, Managing Director at SPI Research.
"Competition is growing as this market continues to expand,
and we congratulate NetSuite and its customers for their
dynamic leadership in what we found to be an increasingly
competitive and profitable industry." NetSuite OpenAir’s
professional services automation (PSA) and services resource
planning (SRP) software helps services organisations
automate and manage key aspects of their business—from
marketing to project management, service delivery, billing,
revenue management and driving repeat business from existing
clients. For global services organisations, these solutions
help them meet the challenges of global services delivery,
including comprehensive support for multiple languages,
currencies, taxation rules and employee work guidelines as
well as real-time global visibility across their entire
business. Quickly realising benefits by abandoning archaic
software systems, ad hoc spreadsheets and email lists to
manage critical client projects, for the first time services
organisations can fully take advantage of the dramatic cost
savings, service delivery improvement and productivity
benefits of cloud computing. “Advent is proud to be
recognised as a ‘Best of the Best’ professional services
organisation,” said Chad Williams, Vice President of
Services, Support and Renewals for Advent’s Investment
Management Group. “In addition to investing in our
employees and strong partnerships with our clients and
partners, we credit the automation and reporting provided by
NetSuite for helping to achieve the necessary visibility and
control over our financial operations and metrics—critical
factors in our business operations and growth as an
organisation.” Key Report Findings Core to SPI's
benchmark report is the emergence of PSA as the status quo
for effective services organisations. PSA solutions improve
efficiencies and boost profitability for services
organisations through increased employee utilisation rates,
decreased manual data entry, reduced IT maintenance costs,
and accelerated invoice and billing cycles. Other key
findings in the SPI benchmark report include: * Four of the 12 SPI Research
top performers are customers of the NetSuite family of
products * More than 88 percent of the
“Best-of-the-Best” firms surveyed have PSA solutions in
place, providing a competitive edge * Fifty-seven
percent of PSA users run their application in the cloud,
while 13 percent stated that they plan to move their PSA to
the cloud within three years * Embedded Software as
a Service PS organisations have shifted from cost centres to
profit centres * The PS workforce is becoming more
global – while 86 percent of this year’s participating
organisations are headquartered in North America, 58 percent
of their employees are located outside of North
America NetSuite OpenAir’s PSA and SRP Drives Efficiency
and Profitability for Services Organisations "Walking the
talk is important to us as our business is focused on
business efficiency and productivity of project based
organisations,” said Jodi Cicci, President and CEO of TOP
Step Consulting, LLC. “Being a part of the top 12 Best of
the Best validates for us that we are headed in the right
direction. Leveraging a PSA tool is a critical component of
this success to provide the efficiencies that we need to
reach our revenue, utilisation and profit
targets.” Edward Marshall, NetSuite's SVP of Product
Strategy for Professional Services, said: "The professional
services business has begun to reap the benefits of change
as highlighted in SPI’s report; through increased annual
revenue growth, improved billing rates and establishing
Software as a Service PSOs as profit centres. Business in
the 21st century has changed, and NetSuite is committed to
providing solutions that enable our customers to succeed in
this new business climate, and the SPI report validates our
efforts." To join the NetSuite Professional Services
conversation on Twitter, follow @NetSuitePSA. About SPI
Research Service Performance Insight focuses on the global
service economy. They provide a unique depth of operating
experience combined with unsurpassed analytic capability. In
their consulting engagements, they help service and
project-oriented organizations ignite performance by
objectively assessing strengths and weaknesses to develop a
full-faceted improvement plan, with measurable time-bound
objectives. SPI Research provides an informed and actionable
third-party perspective for service executives and
technology providers. Their market research and reporting
forms the context in which both buyers and sellers of
information technology-based solutions maximize the
effectiveness of solution selection, deployment and use. For
more information on SPI Research, please visit
www.spiresearch.com. About NetSuite NetSuite Inc. is
the industry's leading provider of financials/ERP software
suites. NetSuite enables companies to manage core key
business operations in a single system, which includes ERP,
accounting, customer relationship management (CRM) and
Ecommerce. NetSuite's "real-time dashboard" technology
provides an easy-to-use view into up-to-date, role-specific
business
information. ends
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NetSuite is the dominant PSA solution provider with 20
percent of survey participants leveraging one or more
NetSuite solutions