NetSuite OneWorld SRP First End-to-End Cloud Business Management Suite For Global Services Businesses


Share on LinkedIn

NetSuite OneWorld Services Resource Planning (SRP) Delivers Global
Visibility, Resource Optimization and Integrated Financial Management Across

Currencies, Subsidiaries, Projects and Geographies

SAN MATEO, Calif. – October 27, 2009 – NetSuite Inc. (NYSE: N), a leading
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. 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. For more details on
NetSuite OneWorld SRP, please visit

rp>, or attend a live NetSuite webinar hosted by
NetSuite CEO Zach Nelson, being held today at 11am EDT. To register, visit:

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.

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.

These businesses also face a number of complex multi-currency billing,
expense and revenue recognition management issues across tax jurisdictions
that can sap time, resources and increase financial risk – all while trying
to ensure ongoing prompt project delivery, billing and receivables across
dispersed divisions and subsidiaries.

NetSuite OneWorld SRP uses cloud computing to address the issues of global
project and financial management. The product’s comprehensive services
management functionality makes it ideal for professional services, legal,
accounting, business process outsourcing management and media-agency
organizations with international operations. With its automated
multi-currency management, built-in support for international tax,
compliance and sophisticated revenue recognition management, NetSuite
OneWorld SRP eliminates arduous manual processes and shortens the period-end
close cycle. And because NetSuite OneWorld SRP is a native cloud solution,
the software enables global services businesses to unlock these benefits
with anytime, anywhere access and minimum capital expenditure, while
ensuring fast deployment, and lean requirements for ongoing management.

“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.”

“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.”

NetSuite pioneered the Services Resource Planning category with its
acquisition and integration last year of OpenAir PSA, providing services
businesses with the first solution to streamline the complete services
lifecycle throughout their business-from sales and marketing to services
delivery, expenses, billings, and revenue management. Now, with the
availability of NetSuite OneWorld SRP, NetSuite and OpenAir deliver the kind
of integrated line-of-sight visibility that is necessary to allocate
resources efficiently, improve project profitability, and drive cash flow –
from the corporate level, to subsidiary, and all the way down to individual

Global services businesses are turning to NetSuite OneWorld SRP to power
their worldwide growth, drive greater performance and provide global
visibility into such key performance indicators as project cost,
profitability and margin, and multi-currency management. NetSuite OneWorld
SRP also enables a timely close process and more accurate revenue forecasts,
as well as the visibility to efficiently manage resource allocation, improve
project delivery and streamline time and expense processes.

Key Features of NetSuite OneWorld SRP

* SRP Global Real-Time Visibility: Global dashboards and reports that
combine financial and operational project drivers (such as utilization,
profitability) for projects, subsidiaries, geographies and at the corporate

* SRP Global Resource Management: Enables matching the best resource
for the project based on skills, experience and availability from a global
bench, across multiple geographies to deliver the best possible client

* SRP Global Financial Management: Accelerates financial close and
reduces financial risk through granular, revenue recognition management that
utilizes project-based revenue recognition rules, together with automated
divisional and corporate financial management and reporting.

* SRP Global Time, Expense and Invoice Management: Improves services
productivity and reduces errors across all divisions with a powerful time
entry system with “Offline” capability, together with an approval management
process that can be tailored by client and project.

* Powerful Project Accounting: Easily and efficiently manage and
analyze project finances from bid preparation through time and expense
tracking to client billing systems and internal charge-backs.

* Multi-Currency & Tax Management: Support for multiple currencies and
international taxes enabling comprehensive management, billing and revenue
recognition of projects across multiple currencies and tax jurisdictions.

* SRP Global Accessibility: 100% web-based, on-demand solution
ensuring ease of access from anywhere, enabling services teams on the road
to stay connected with offline access via mobile devices enabling them to
submit time and expenses, update and monitor project performance.

For more information about NetSuite Inc., please visit


NOTE: NetSuite and the NetSuite logo are registered service marks of
NetSuite Inc.

News Editor
CustomerThink offers a free news posting service for press releases relevant to our community. To submit your press release to our news editor, send an email to [email protected] with the press release headline and main content in the email subject line and body, respectively. That's it! Approved press releases will appear in our news category within one business day of submission.


Please use comments to add value to the discussion. Maximum one link to an educational blog post or article. We will NOT PUBLISH brief comments like "good post," comments that mainly promote links, or comments with links to companies, products, or services.

Please enter your comment!
Please enter your name here