NetSuite Inc. today rolled out an application developed specifically for software companies, the first in what will be a series of vertical applications, company executives said.
The NetSuite-Software Company Edition from the San Mateo, Calif.-based vendor adds back-office functionality like revenue recognition advanced billing and maintenance renewal tools. Its software industry-specific front office functionality includes software sales forecasting, software commission management, partner relationship management, software-specific marketing tools and self-service customer portals to access order history, outstanding invoices and trouble tickets.
"Obviously, we've got some best practices information," said Mini Peiris, vice president of product management, noting that NetSuite uses its own application to sell its software. Additionally, NetSuite has more than 2,000 existing software customers. "Over the years they've been a natural fit for us, they tend to be forward thinking in what they want from their technology."
NetSuite is not the first hosted CRM vendor to release industry-specific applications. Both Boston-based Salesnet Inc. and Siebel OnDemand, now a part of Redwood Shores, Calif.-based Oracle Corp. have had vertical editions for some time. However, NetSuite's back office functionality sets the company apart in areas such as compensation management for the sales force, Peiris said.
NetSuite has formed dedicated internal sales and software teams to serve the software industry. While the company has promoted vertical versions through its partner program, it will be offering more verticals developed by NetSuite itself throughout the year.
Pricing for the Software Company Edition is $99 per user month plus $2,999 per month per company.