SAN MATEO, Calif., April 28, 2016 /PRNewswire/ -- NetSuite Inc.
(NYSE: N), the industry's leading provider of cloud-based
financials / ERP and omnichannel
commerce software suites, today announced that, for the third
year in a row, it is the fastest growing financial management
system (FMS) vendor among the top 10 FMS vendors on a global basis,
according to calculations performed by NetSuite with data from the
Gartner report, "Market Share: All Software Markets, Worldwide,
2015," published on March 31, 2016.
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 2015. NetSuite is also the only pure
cloud software provider among the top 15 FMS vendors on a global
basis.
NetSuite demonstrated significant gains on many metrics,
according to Gartner's latest market share research on Financial
Management Systems in 2015. They include:
- On a global basis—NetSuite's FMS market share growth rate of 45
percent is more than three times the rate of its closest competitor
within the top 10 by market share.
- NetSuite is the only pure cloud software provider among
the top 15 FMS vendors.
- NetSuite jumped to sixth from eighth in overall FMS market
share percentage.
- NetSuite's FMS revenue growth on a global basis of 40.3 percent
was nearly four times the growth of its closest competitor within
the top 10.
- NetSuite's total revenue gain significantly outpaced its
competitors, with more than double the revenue of the next highest
gainer.
- NetSuite significantly outgrew the market for FMS software as a
whole, which Gartner estimates declined at a rate of 3.3 percent
year over year.
"We believe these results demonstrate NetSuite's unstoppable
momentum and consistent high growth as we continue to outpace our
competitors," said NetSuite CEO Zach
Nelson. "For the third year in a row, we feel
we've proven that cloud FMS is now and the future."
Gartner estimates that the overall global market for enterprise
software, including on-premise and cloud-based solutions, grew 2.6
percent in 2015. (Source: Gartner, "Market Share: All Software
Markets, Worldwide, 2015," March 31,
2016).
Today, more than 30,000 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 cloud-based
financials/enterprise resource planning (ERP) and omnichannel
commerce software applications for businesses of all sizes from
Start-Up to Enterprise. NetSuite continues its success in
delivering leading cloud ERP/financials suites to businesses of all
sizes around the world, enabling them to lower IT costs
significantly while increasing productivity and supporting rapid
growth and internationalization as the global adoption of the cloud
is accelerating.
Follow NetSuite's Cloud blog,
NetSuite's Facebook page and @NetSuite Twitter
handle for real-time updates.
For more information about NetSuite, please
visit www.netsuite.com.
NOTE: NetSuite and the NetSuite logo are service marks of
NetSuite Inc. Third-party trademarks mentioned are the property of
their respective owners.
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.
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SOURCE NetSuite Inc.