The new name is driven by the success of the company’s NetSuite integrated ERP/CRM/E-Commerce business application for mid-sized companies. This product was introduced more than a year ago and is now used by a majority of its customers. NetSuite’s products still include the Oracle ® Small Business Suite for small companies.
In 1999 they delivered the first NetLedger suite of financial management applications. This became the foundation for the company to broaden the application not only to manage back-office and e-commerce applications, but also to manage front-office sales, support and marketing activities. With the NetSuite product, the company has surpassed 7,000 customers and is now the largest application service provider for small to mid-sized companies.
“Our name change from NetLedger to NetSuite is a natural evolution of the company,” said Zach Nelson, CEO of NetSuite. “While our financial applications are a key product differentiator, we are now better known for helping companies automate their end-to-end business processes. The vision of NetSuite to enable companies to manage their operations in a single, integrated solution permeates everything we do, and our name reflects that vision.”