Fast Growing Predictive Analytics Company Gains a Modern,
Agile and Scalable Platform with NetSuite
SAN JOSE, California,
May 18, 2016 /PRNewswire/ --
NETSUITE SUITEWORLD 2016 — NetSuite Inc. (NYSE: N), the
industry's leading provider of cloud-based financials / ERP and
omnichannel commerce software suites, today announced that Blue
Yonder, a leading predictive applications company based in
Germany, has selected NetSuite
OneWorld to run its mission-critical business processes, including
financial consolidation, revenue recognition, forecasting and
budgeting, reporting, management for subsidiaries in the UK and
Germany, multi-currency support
for the Euro, British pound and US dollar and multi-country
taxation compliance – all within one unified cloud platform. With
NetSuite OneWorld, Blue Yonder has a true cloud solution that will
scale with the company as it continues its growth and expands into
the US and beyond.
A venture-backed company that recently received a $75 million investment, Blue Yonder is the
leading provider of Predictive Applications for retail. It delivers
automated data driven decisions to the retail sector that can
achieve an 80 percent reduction in out-of-stock rates and a 15
percent increase in revenue. Blue Yonder does this by using its
pioneering machine-learning algorithms, developed and managed by
the most qualified team of doctorate-level data scientists in
retail. Founded in Germany by a
former CERN Researcher, Blue Yonder has undergone rapid growth and
quickly found that its existing ERP solution was not sufficient for
an ambitious data driven company. It made delivering the required
level of financial reporting a significant challenge, forcing the
business to rely on Excel spreadsheets and manual input.
After considering different solutions, Blue Yonder chose
NetSuite as a fellow cloud provider that could provide financial
customer information in real-time, in one unified system, helping
to manage global financial consolidation to expedite its plans for
further expansion. Blue Yonder's commitment to European data
privacy was also key to its selection of NetSuite OneWorld.
NetSuite's recent European data centre announcement, track record
and proven scalability inspired the trust and credibility that Blue
Yonder required.
NetSuite OneWorld delivers transformative power to global
businesses of all sizes with any business model, giving them the
agility and flexibility to adapt to the rapidly changing world of
modern business. NetSuite OneWorld gives today's businesses the
ability to expand and transform their organisations and reinvent
their business models to meet the ever changing demands of their
markets and the expectations of their customers. With support for
190 currencies, 20 languages and automated tax compliance in over
100 countries, NetSuite OneWorld brings Blue Yonder the following
key features and benefits:
- Rapid expansion. NetSuite OneWorld's powerful
international capabilities will enable the business to quickly and
easily establish new entities as the brand expands globally.
- Real-time analytics and reporting. NetSuite's
dashboards, reporting and analytical tools will enable Blue Yonder
to monitor, report and analyse all KPIs across the board.
- Real-time global financial consolidation. NetSuite
OneWorld will provide real-time visibility across all of Blue
Yonder's subsidiaries, divisions and business units with a single
financial system of record.
- Ease of integration. Blue Yonder will be integrating
partner product Adaptive Insights (advanced financial planning)
into the implementation in order to provide enhanced financial
capabilities.
"We looked for an ERP solution that supports our growth plans
and expansion into new markets, and in order to do this, accurate
reporting across our subsidiaries in a variety of currencies is
mission critical," said Uwe Weiss,
CEO of Blue Yonder. "NetSuite OneWorld will provide us with these
capabilities with one single view, in real-time."
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
@NetSuiteEMEA Twitter handle for real-time updates.
For more information about NetSuite, please visit
www.netsuite.co.uk.
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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