NetSuite and Hein Partner to Provide Expert Accounting and Regulatory Compliance Solutions from the Cloud

02/03/2010

Combination of HEIN Expertise and NetSuite Cloud Computing Software Will Help Customers Across Industries Address Complex Operational and Regulatory Compliance Needs

NetSuite Inc., (NYSE: N), a leading vendor of cloud computing business management software suites, and HEIN and ASSOCIATES LLP, a leading accounting and advisory services firm, today announced a partnership to provide both public and private companies with a range of customized accounting and regulatory compliance solutions powered by NetSuite’s leading cloud computing applications for financials, enterprise resource planning (ERP) and customer relationship management (CRM).

ebizQ received the following:

Working with NetSuite and its powerful, flexible cloud computing application suite and software development platform, HEIN and ASSOCIATES LLP’s professional consultants will deliver sophisticated, vertically focused solutions for needs ranging from tax and financial reporting to growth plan development. NetSuite's architecture will enable HEIN and ASSOCIATES LLP to provide timely, Web-based software updates as regulations and best practices evolve.

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HEIN and ASSOCIATES LLP’s deep roots serving companies in the technology, manufacturing, distribution, and energy fields will promote specialized solutions for each of these industries.

With offices in Denver, Dallas, Houston, and Irvine, California, HEIN and ASSOCIATES LLP is ranked by Accounting Today as one of the 60 top accounting firms in the country. The company’s SEC practice is recognized as among the largest in the country by Public Accounting Report. Also, HEIN and ASSOCIATES LLP prides itself on its commitment to integrity and independence, and is consistently recognized as a “Best-of-the-Best” firm by Inside Public Accounting.

“We are very excited to have Hein on board as a Partner to start off 2010,” said Glenn Griffin, VP of Business Development at NetSuite. “Hein has a reputation in the accounting community as a leader in a number of key areas and this partnership gives customers the opportunity to benefit from their knowledge. Implementations provided by Hein will leverage their expertise in GAAP, IFRS, SEC Compliance and internal controls. NetSuite customers will also benefit from Hein’s deep understanding of the specific requirements companies need to be competitive in their industry. The combination of NetSuite software and Hein implementations can be offered at a cost that is simply not achievable by companies implementing ‘stone-age’ client server systems, even if they are delivered via the outdated managed services model.”

According to HEIN and ASSOCIATES LLP managing partner Larry Unruh, “Hein works with many public and larger private companies, so we wanted to partner with an organization that could support the complex operational and regulatory compliance that these companies require. But it also needed to be easy enough to configure that our professionals could layer their internal controls, audit, and industry expertise on top of the system without the need for a developer.”

“We’re very excited to partner with NetSuite because this system addresses both of these points. Our focus is on providing customized solutions that exceed our client’s expectations, and NetSuite’s software allows us to continue doing that,” said Unruh.

The partnership between NetSuite and HEIN and ASSOCIATES LLP comes at a time when cloud computing is gaining increased traction as the preferred deployment model for business applications. Gartner recently forecasted the SaaS market to have a 17.7% Compound Annual Growth Rate (CAGR) through 2013, nearly five times the total application market’s 3.6% CAGR. Gartner Dataquest also recently released figures showing that NetSuite has joined the ranks of North America's top ten ERP vendors by revenue. Strategic advisory service ISM Inc. recognized NetSuite and NetSuite CRM with a Top 15 CRM Small & Medium Business Software Award for 2009. Customer Interaction Solutions magazine named NetSuite CRM as a recipient of a 2009 CRM Excellence Award. Most recently, British businesses named NetSuite the top Enterprise Accounting Software vendor in Sift Media's Software Satisfaction Awards 2009. These awards validate and reinforce NetSuite's mounting importance to companies of all sizes looking for a powerful, integrated enterprise management solution.

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