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Company chief executive officer Zach Nelson said more local firms across a broad spectrum of industries are utilizing cloud computing to reduce cost and raise productivity amid the global economic slowdown.
"We are doing very well here. The acceptance of our cloud-based business applications product by global companies headquartered in Manila is a great testament to the strength of NetSuite in meeting the needs of local industry leaders," he said.
"Manila's strong, business-friendly infrastructure has been a tremendous asset to NetSuite, along with a top-notch educational system and well-spoken, service-driven employees," he added. Nelson said among its Philippines leading company customers are Jollibee, ABS-CBN, Diamond Fleet Management System and MOTECH Automotive Education Center Inc.
NetSuite enables mid-market companies to manage core business operations in a single system, which includes accounting/enterprise resource planning, customer relationship management and Ecommerce.
To this end, Nelson also announced the introduction of a new localized product designed to meet the requirements of the Bureau of Internal Revenue with key tax compliance, reporting and data export requirements.
He expressed optimism that the marketing of this localized software could help boost the companys revenues.
"We are projecting level to something around $ 165 million this year in revenues. International business outside North America typically accounts for 20 percent of our revenue stream," he revealed.
NetSuite revenues reached US$152.5 million last year. In the second quarter of 2009, Philippine operations shared $40.4 million to total earnings.
Its Makati office, established in January 2007, is the company's largest office located outside the United States with more than 300 employees.
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