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SAN MATEO – 10/28/08 – Business management software developer NetSuite Inc. has launched a new venture - NetSuite OneWorld in Singapore.

The opening of the California-based company’s Singapore office in 2005 marked the company's entry into Southeast Asia.

Since then, NetSuite's Singapore office has served as the hub for the company's expansion in Southeast Asia, especially in countries such as Thailand, Malaysia, and the Philippines.

Due to Singapore's strategic geographic location near some of the world's fastest-growing economies, excellent infrastructure, and supportive government, NetSuite Singapore has experienced “exponential sales growth,” according to the company’s website.

At the same time, the company announced that Clearstate, a Singapore-based provider of consulting services to manufacturers serving the healthcare industry, has gone live on NetSuite OneWorld to manage its multinational operations and support its mobile professionals on client engagements throughout Asia and North America.

Last month, NetSuite opened a new office in Hong Kong to serve the expanding China market for so-called software-as-a-service (SaaS) software applications.

According to a recent research report by Forrester Research found that 61% of Hong Kong and Chinese firms plan to adopt SaaS within the next year.

Regionally, industry consultancy Springboard Research estimates that Asia-Pacific software as a service (SaaS) revenues will grow from $274 million in 2007 to around $1.8 billion by 2011, while the analyst firm Gartner recently estimated that the Asia-Pacific SaaS market is growing twice as fast as the market for traditional on-premises applications.

NetSuite Inc. was founded in 1998 and maintains extensive international operations from offices in Ontario, Canada; Tokyo, Japan; Sydney, Australia; the United Kingdom; the Middle East; and Singapore.

The firm also maintains strategic partnerships with a number of multi-national companies including Apple Inc.; the FedEx Corp.; Merchant e-Solutions; NEBS Inc.; NetReturn; PayPal; UPS, and VeriSign Inc.

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