Oracle NetSuite Corporate Communications
Cloud ERP Leader Receives Near-Perfect Score of 99 for Accounting and Governance Risk Practices
SAN MATEO, Calif—April 25, 2013—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced that Forbes has named it one of America's 100 most trustworthy companies. The recognition is based on rankings compiled by GMI, a pioneer in the application of non-traditional risk measures for financial analysis, which evaluates over 8,000 public companies using 60 different governance and forensic accounting measures. NetSuite is one of only two software companies named to the list and the only large-cap company of any type to receive a near-perfect accounting and governance risk (AGR) score of 99, the highest score among this year's crop.
GMI evaluates companies every three months, evaluating them on the transparency of their accounting practices and corporate governance and management. The evaluation penalizes companies for unusual or excessive executive compensation, high levels of management turnover, substantial insider trading relative to their corporate peers, or high levels of short-term executive compensation, which encourages management to focus on short-term results. GMI claims that it has established a direct correlation between its AGR assessments and the likelihood of negative events such as class-action litigation, Securities and Exchange Commission enforcement actions, financial reporting delays, bankruptcy filings, and poor stock price performance.
NetSuite provides industry-leading cloud-based solutions to help companies run their business with a full suite of software for accounting/financials, customer relationship management (CRM), Ecommerce and professional services automation (PSA).
Today, more than 16,000 companies 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 financials/ERP suites for divisions of large enterprises and mid-sized organisations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations as demonstrated in a recent Gartner study naming NetSuite as the fastest growing top 10 financial management systems vendor in the world. NetSuite continues its success in delivering the best cloud ERP/financials suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud is accelerating.
For more information about NetSuite, please visit www.netsuite.com.au.
NOTE: NetSuite and the NetSuite logo are service marks of NetSuite Inc. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between NetSuite and any other company.