Can NetSuite Impress Wall Street?
The VAR Guy has been expecting this piece of news for a few months: NetSuite, the provider of online accounting applications, intends to raise $75 million through an IPO. Solutions providers should keep a close eye on NetSuite. Here’s why.
Many people compare NetSuite to Salesforce.com, the provider of online CRM applications. But in reality, NetSuite serves a slightly different market. NetSuite claims its online accounting applications offer a simple, cost-effective alternative to traditional accounting applications from Sage and Intuit.
The VAR Guy gets a kick out of NetSuite. The company doesn’t sugar coat its intentions and aggressively attacks its rivals. One marketing program — aimed at customers running Sage’s software — gives you a feel for NetSuite’s aggressive nature.
For VARs and software developers, NetSuite provides a platform that could allow partners to participate in the software-as-a-service (SaaS) boom. Channel publications like CRN — the old weekly, er, relatively frequent magazine — have run hot and cold on NetSuite. And while The VAR Guy can’t directly endorse NetSuite’s channel strategy, the company’s micro-vertical initiative sounds intriguing.