NetSuite CEO: "All Companies are Cloud Companies"

“All companies, even non-technology companies, have realized they are cloud companies,” says Zach Nelson, CEO of NetSuite.

“To effectively transition their business to this new model of reaching customers, they need to build their enterprise around an application suite like NetSuite that was designed to support operations in the Cloud Age,” he adds.

NetSuite is not one of the larger cloud players, but did just report record quarterly revenues of US$69.3 million, up 30 percent from a year ago. It shows a positive cash flow and squeezed out profits of $4.1 million in its most recent quarter.

The company had a strong presence in the Philippines, where I was just based for three years, as it tackles a lot of unfun challenges in the financials, ERP, and related spaces. Nelson says the company most recent results are driven by continuing momentum “as companies large and small…(continue a) migration from legacy offerings like Microsoft Dynamics GP/Great Plains, Sage and SAP to NetSuite.”

I like it.

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