NetSuite, the on-demand service for SMEs, adds enhanced CRM features in latest version
- 13 April, 2004 17:24
<p>SYDNEY, 14th April 2004 - Net Return, exclusive distributors of NetSuite, the on-demand business suite for SMEs, today announces the release of NetSuite 9.5. This new version adds advanced Customer Relationship Management (CRM) features including line-item billing capabilities, customer mining and segmentation tools. Additionally, no-click e-mail integration for popular e-mail systems such as Microsoft Outlook, Lotus Notes and Yahoo! Mail has also been added.</p>
<p>The challenge with stand-alone CRM systems is that they do not natively track customer purchase history. In traditional CRM systems, when an order is placed the user leaves the CRM system and enters the order elsewhere. This disconnect greatly decreases the effectiveness of sales people who need to know customer purchase history; of marketing users who want to create up-sell campaigns; and of service personnel trying to determine the best way to support customers. It also adds to the cost of the system as this order information often has to be re-imported into the CRM system, driving up IT integration, maintenance and data cleansing expenses.</p>
<p>NetSuite, as the only on-demand CRM solution with integrated order management, eliminates this major limitation of traditional CRM systems. And the new features in NetSuite 9.5 extend this advanced capability by allowing contract terms to be reflected in billing and by allowing customer purchase data to be mined and acted upon.</p>
<p>¡§NetSuite 9.5 delivers next generation billing capabilities for handling contract terms and subscription business while other CRM vendors have yet to deliver on promises of basic order management,¡¨ said Stuart McLean, managing director, Net Return. ¡§The ¡¥C¡¦ in CRM stands for customer, and knowing your customers means knowing their purchases and service history and handling their billing correctly. NetSuite 9.5 does that and more.¡¨</p>
<p>Highlights of NetSuite 9.5 include:
* Automatic Term-Based Billing Tied To Quotes, Invoices and Commissions
For companies offering service contract terms or recurring subscriptions, keeping track of billing schedules can be an extremely labour intensive process. For example, a customer might commit to a one-year membership billed monthly, or a three-year service contract with quarterly invoices. Keeping track of invoicing schedules, managing the billing process (knowing when it is time to invoice, how much to invoice) and handling incentive compensation on billings (knowing when and how much to pay reps for sales commission) can be a major challenge for such companies, and doing so effectively is critical to successfully managing revenue systems. NetSuite 9.5¡¦s Advanced Billing capabilities automate these billing schedules and commission payments so they are processed faster, more conveniently, and at a lower cost to the business.</p>
<p>* Customer Mining and Segmentation Tools
Customer information is of no use unless it can be searched, analysed and used to drive business decisions and revenue-generating activities. To that end, NetSuite 9.5 includes several powerful data mining tools:
Advanced Expression Builder ¡V allows for creating complex criteria using search expressions of ¡¥And¡¦, ¡¥Or¡¦, and ¡¥Not¡¦ across any combination of fields. Parenthetical groupings are also included, enabling the ability to perform cross-analysis of customer purchase history, service patterns and current pipeline activity for segmentation analysis.
Target Group Creation Tools ¡V enables users to mine customer purchase, case, opportunity and transaction histories to create target groups, which can then be used to run up-sell and cross-sell campaigns. These campaigns can be tailored to contain focused messaging that resonates with the segmented group since it is based on rich knowledge of the customer relationship.
Analytics Via Search ¡V provides an easy to use interface for quick, on-the-fly analysis of customer profiles, purchase histories and service logs using Saved Searches. Group, Count, Sum, Average, Minimum and Maximum values of a search result set can be configured by the most novice users with a few point and clicks of the mouse.</p>
<p>* Patent Pending, No-Click E-Mail Integration
To coordinate communication between an email system and a CRM system, users have had to manually move e-mails from one system to the other. NetSuite has a breakthrough that eliminates this tedious process, and ensures all correspondence is automatically tracked both in the e-mail system and the CRM system. This patent pending no-click e-mail integration works seamlessly with popular e-mail systems such as Microsoft Outlook, Lotus Notes and Yahoo! Mail.</p>
<p>Pricing and Availability
NetSuite 9.5 is available now and there is no extra fee associated with the new release for current subscribers.</p>
<p>NetSuite - hosted locally in Australia with Telstra - enables companies to manage all key business operations in a single, integrated system, which includes customer relationship management; order fulfilment, inventory, finance; eCommerce; and employee productivity. In addition, NetSuite is delivered as an online service, so there is no hardware to procure, no large, up-front license fee, and no complex set-ups.</p>
<p>For more information about NetSuite visit: www.netsuite.com.au.</p>
<p>About Net Return
Net Return pty ltd, is an Australian online services company and is the exclusive distributor of the NetSuite and NetCRM online business application for small to medium businesses in Australia and New Zealand. Net Return also provides online services to corporations and governments to develop integrated and effective online solutions that deliver a measurable return. Net Return's clients include: AGL, AMP, AusAID, Australian National Training Authority and Commonwealth Bank of Australia. For information about NetSuite visit: www.netsuite.com.au; for Net Return visit: www.netreturn.com.au.</p>
<p>About NetSuite, Inc.
Founded in 1998, NetSuite, Inc. is a leading provider of ERP and CRM application software for small and mid-sized businesses. The company's products include NetERP, NetCRM, NetSuite, and Oracle Small Business Suite. The company is the largest application service provider of mid-market business applications with over 7,500 companies using its products. The company's products have won many industry awards, such as the PC Magazine Editors' Choice Award in 2003. The company's investors include Larry Ellison. For more information visit www.netsuite.com.</p>
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