A Remarkable First Half of 2010 - Growth and Innovation

Now we're right in the middle of 2010, it feels like a good time to check in and see how the adoption of cloud computing is progressing. Especially so, given we're now emerging from one of the worst recessions on record. Is the reality matching up to the buzz?

Well, the proof is here. In April, analyst firm Gartner released its latest worldwide market share data for Financial Management. If there is any proof about the growing acceptance of cloud computing it's with its adoption within finance departments - often one of the most conservative parts of any business.

The results are remarkable. The chart below shows North America Financial Management Systems vendor performance from the start of the recession in 2007 through to 2009. It turns out that NetSuite is the fastest growing vendor in the top 10. It's pretty clear that cloud computing is now clearly now firmly on the radar for finance departments.

It's also interesting to see how cloud computing is being adopted in other geographies. Originally, hailing from the UK, I thought I'd check in to see how cloud computing is being adopted in my home country. In a tough economic climate, the contrast couldn't be more stark between cloud computing and the old way of running software - every other traditional software provider in the top 10 in the UK faced declining growth in 2009.

Well, the title of this post isn't just about growth, but also innovation. And I'm really pleased to report that NetSuite also received some great recognition in May. The SIIA awards are one of the software industry's most prestigious (and only peer reviewed) awards - and NetSuite just received three of them (more than any other solution provider).  It was a broad sweep - including Best Business Software Solution, Best Relationship Management, and Best Cloud Infrastructure Software.

We're no doubt going to see more validation of the traction of cloud computing as we enter the second half of 2010 - so I'm looking forward to reporting back at the end of the year.

Have a great summer!

Paul Turner, NetSuite

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