SVP, Corporate Communications
NetSuite Significantly Outpaces the Vendor Landscape by Both Revenue and Market Share Growth
SAN MATEO, Calif.—May 4, 2015—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that it is once again the fastest growing financial management system (FMS) vendor among the top 10 vendors on a global basis for the past year, according to calculations performed by NetSuite with data from the Gartner report, "Market Share: All Software Markets, Worldwide, 2014," published on March 31, 2015. According to calculations based on the report's data, NetSuite was the fastest growing FMS within the top 10, globally, both by market share and revenue growth in 2014. NetSuite is also the only pure cloud software provider among the top 20 FMS vendors on a global basis. It is the second year in a row that calculations of Gartner research have found NetSuite to be the fastest growing global top 10 FMS vendor.
NetSuite demonstrated significant market share gains on many metrics, according to Gartner's latest market share research on Financial Management Systems in 2014. They include:
"Once again, NetSuite has outgrown its competitors by a wide margin," said NetSuite CEO Zach Nelson. "What's even better is we've only scratched the surface of the worldwide demand for cloud-based financial management systems. Our continued momentum is helping to demonstrate the transformative power of the cloud for businesses everywhere."
Gartner estimates that the overall global market for financial management systems, including on-premise and cloud-based solutions, grew 4.7 percent in 2014. (Source: Gartner, "Market Share: All Software Markets, Worldwide, 2014," March 31, 2015).
Today, approximately 24,000 companies, organisations and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-class cloud ERP suites for divisions of large enterprises and mid-sized organisations seeking to upgrade their antiquated client/server ERP systems. NetSuite continues its success in delivering the best cloud ERP/financial suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.
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Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements relating to expectations, plans, and prospects including expectations relating to the future growth of the financial management systems market. These forward-looking statements are based upon the current expectations and beliefs of NetSuite's management as of the date of this release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements including, without limitation, the risk of continued adverse and unpredictable macro-economic conditions. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and NetSuite disclaims any obligation to update these forward-looking statements.