SAN JOSE, Calif., May 18, 2016 /PRNewswire/ -- NETSUITE
SUITEWORLD -- NetSuite Inc. (NYSE: N), the industry's leading
provider of cloud-based financials / ERP and omnichannel commerce
software suites, today announced a number of product innovations
targeting nonprofits, including NetSuite OneWorld 16, revenue
management, SuiteCommerce and custom records. These features are
designed to help nonprofits adapt to rapid changes in the industry,
while introducing efficiencies into organizational processes. The
features announced today demonstrate NetSuite's accelerated product
innovation across all industries, and for nonprofits in particular,
at an unstoppable pace.
Nonprofits face a rapidly changing and unpredictable operating
environment. In the face of increasing donor expectations, new
business models that blur the lines between nonprofit and
for-profit approaches are emerging. Every nonprofit must break the
vicious cycle of low investment, underfunded programs and
unrealistic donor expectations. By partnering with NetSuite,
nonprofits can deploy future-proof technology and leading
practices to create a virtuous cycle of higher performance,
increased innovation and better outcomes.
NetSuite's corporate citizenship arm, NetSuite.org, offers
donated and discounted software and pro bono services to hundreds
of qualified nonprofits and social enterprises. But with more than
600 nonprofit organizations among its customers, NetSuite also
provides a platform that allows nonprofits run their core
operations and the capabilities (now and tomorrow) to connect a
donor's dollar to an expenditure to an outcome while also providing
the rich functionality, agility and scalability that these
organizations need to adapt to shifts in modern giving.
"Between our deep roster of nonprofit customers and the close,
pro bono work we've done with many of these organizations, NetSuite
has a deep understanding of the challenges nonprofits face today,"
said David Geilhufe, Senior
Director, NetSuite.org. "We've built out functionality to meet
those challenges today, with flexibility to meet the challenges of
tomorrow and we will continue to share leading practices to help
them fulfill their mission."
Changing the World Through Nonprofit Partnerships
With a long and distinguished history of working with
nonprofits, NetSuite has created functionality that allows these
organizations to serve their donors and mission with innovation
typically considered the domain of their counterparts in the
for-profit world. NetSuite has developed functionality that create
specific benefits for nonprofit organizations including:
- NetSuite OneWorld. With multiple organization
support and transaction and currency consolidation, NetSuite
OneWorld provides International NGO's the ability to maintain
robust and real-time transparency into their projects and programs
across the globe.
- NetSuite Advanced Financials. Enhanced billing,
statistical accounting and allocation schedules give nonprofits the
ability to build efficiency and transparency into their expense
control processes and ensure a holistic view of outcome measures in
reporting.
- NetSuite Advance Revenue Management. Association and
membership organizations can seamlessly track and manage multiple
revenue sources and develop recognition schedules for subscription
management. The Revenue Recognition Dashboard Portlets, with
real-time analytics, provides powerful insights into member
management.
- Custom Records. Allow nonprofit organizations to easily
create, track and manage funding sources, offering development and
management real-time visibility into donor and contribution
strategies.
- SuiteGL. Custom GL Segments vastly simplifies the
process of managing complex nonprofit reporting across
restrictions, geographies, funds, grants and other dimensions.
- Advanced Approvals. Provides nonprofit controllers
a configuration-driven rules framework to define and apply
approvals consistently across a wide range of transactions,
resulting in increased accuracy and reduced time to close.
- SuiteCommerce Advanced. Nonprofits with multi-faceted
fundraising strategies can easily manage engagement, cross-selling
and online donation initiatives using SuiteCommerce Advanced's
unifying ecommerce platform.
To learn more about NetSuite for nonprofit organizations, please
visit www.netsuite.com/nonprofits.
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. Many
FORTUNE 100 companies rely on NetSuite to accelerate innovation and
business transformation. NetSuite continues its success in
delivering the best cloud business management software to
businesses around the world, enabling them to lower IT costs
significantly while increasing productivity, as the global adoption
of the cloud accelerates.
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.
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SOURCE NetSuite Inc.