ONLINE software provider NetSuite, a billion-dollar company majority owned by Oracle chief executive Larry Ellison, has upped its efforts to sell its business software to Kiwi companies after recruiting Wellington software services firm Fusion5 to sell and customise its applications.
NetSuite's software, which automates functions such as financial and customer service management, is hosted in data centres in the United States, with customers accessing the software over the internet.
Chris Schafer, who manages the company in the Asia Pacific region, says NetSuite has more than 6500 customers, including 400 in Australia, but is used by only seven New Zealand firms - most of which had approached the company asking about its software.
Fusion5, an information technology firm that employs about 100 staff, will concentrate on selling NetSuite to businesses that turn over between $5 millon and $50m and says it has about 500 prospects. Six staff have been trained to sell and support it.
NetSuite floated on the New York Stock Exchange in 2007. On Friday its shares slid 6 per cent after it reported an annual loss of US$23.3m, up from a loss of US$18.4m the previous year.
Revenues were up 9 per cent at US$166m. NetSuite is now valued at US$905 million (NZ$1.38 billion). Though hit by the downturn, its shares had been recovering
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