NetSuite's leaders on Tuesday described to some 1,000 partners attending the sixth SuiteWorld conference in San Jose, Calif., how a spate of upcoming products would be far more customizable, agile and intelligent than any they had seen before.
Executives of the cloud software vendor, based in San Mateo, Calif., demonstrated for resellers, system integrators, independent software vendors and customers several new and upgraded capabilities soon to be introduced to the company's business, financial and e-commerce management platforms.
It will be up to partners to leverage those capabilities to build powerful and unique solutions for the company's diverse customer base, said Evan Goldberg, NetSuite's co-founder and chief technology officer.
"We've given you a lot to work with," Goldberg told NetSuite partners. "You guys have done some great things in the past. I want to see what you do in the future."
The cloud pioneer has amassed more than 30,000 customers running its business software around the world, and, for the first time in its history, is projecting a $1 billion run rate, said Zach Nelson, NetSuite's CEO.
Nelson delivered the first keynote of the day, introducing SuiteBilling, which is "probably as big of an announcement as we've ever made." The new product is the first to integrate revenue recognition capabilities.
Built natively into NetSuite's core enterprise resource planning platform, SuiteBilling dovetails with new revenue recognition rules that will take effect this year in the U.S. and other countries, Nelson told attendees.
The combined capability to bill and recognize revenue makes NetSuite "able to handle some of the most complex use cases you see on the planet today," said Jim McGeever, the company's president.
SuiteBilling, importantly, offers a single system for billing any product, service or subscription, he said.
"More development effort has gone into this than anything we've ever done," McGeever said.