Oracle NetSuite Corporate Communications
Key to Running Successful Software Operations is NetSuite's Software Industry-Specific Functionality
SAN MATEO, Calif.—May 11, 2006—NetSuite, Inc., the leader in on-demand business software suites, today announced that within six months of implementation of NetSuite, Portland, Ore.-based Learning.com has achieved immediate results by accelerating business processes 15 fold and is on track to double its business from the previous year. With NetSuite, Learning.com has automated revenue recognition, which eliminated data-entry errors and duplicate spreadsheets, and expedited invoice processing-without adding staff. Previously using Salesforce.com and QuickBooks, Learning.com standardised its entire front and back office operations on NetSuite for one, integrated software application that manages a software business and the software customer life cycle — from the moment the lead is in the system through the sales process to purchase and on to subsequent renewals and repeat sales. For more information, please visit www.netsuite.com.sg/learning.
Like many other software companies, Learning.com used multiple applications to run its business — one for sales, marketing, and customer support; and one for financials. This approach adds additional costs, creates financial errors and results in a poor customer experience. Especially in the complex world of financial compliance, software companies are looking for financial management functionality to manage revenue recognition and usage-based billing, which can cost hundreds of thousands of dollars when purchased from niche providers.
As a software company, Learning.com needed a software application to manage its complex revenue recognition process and billing schedules while ensuring compliance. It also required powerful CRM capabilities to ensure proper customer support since quality of service and support are business critical functions for software companies. NetSuite became an obvious choice.
"Before NetSuite, when a deal closed, it could take up to a week to process the order, get it into fulfilment, and send it to accounting for invoicing because we were constantly shuffling papers around," said Douglas Stein, VP of Development and Technology at Learning.com. "Also, revenue recognition was a very big issue for us, and we needed to find a better way to do it. It became apparent that NetSuite was the 'one system' we didn't have with Salesforce.com and our previous system — and we would never have with Salesforce.com and our previous system. With NetSuite, we got all the extras at a price point that's still very similar to Salesforce.com."
Learning.com, the education industry's leading developer of online technology integration and assessment tools, partners with schools and districts to meet their technology literacy and integration goals. The company's products and services help students develop and apply foundational technology skills, provide teachers with resources to integrate technology across the curriculum, and help districts satisfy accountability requirements. Privately-held Learning.com is headquartered in Portland, Ore. For more information, visit www.learning.com.