Name: NetSuite OpenAir
Brand: NetSuite
SKU: 6918b11e25b481d7418409f0
Rating: 4.5 (287 reviews)

Claim Your Profile

NetSuite OpenAir

By NetSuite

Alternatives

Categories Associated

Cloud PBX

Overview of NetSuite OpenAir Software Company

NetSuite OpenAir is a professional services automation (PSA) platform designed to help service-based organizations manage projects, resources, time tracking, expenses, and billing in one unified system. It offers real-time project visibility, advanced forecasting tools, and automated financial processes to improve delivery efficiency and profitability. With capabilities like resource optimization, project accounting, workflow automation, and integrated reporting, OpenAir supports teams in managing the full project lifecycle. It is especially useful for consulting firms, IT services, and agencies that need a scalable, cloud-based solution to streamline operations and enhance collaboration across distributed teams.

Founding and Growth

Original Company (OpenAir): Independent company founded prior to its acquisition by NetSuite.
Parent Company (NetSuite) Founding: NetSuite was founded in 1998 by Evan Goldberg (initially as NetLedger). It is recognized as the world's first cloud computing software company.
Focus: NetSuite OpenAir is a best-in-class Professional Services Automation (PSA) software designed to manage the end-to-end operations of service organizations.

Funding and Valuation

NetSuite Funding: The parent company, NetSuite, raised a total of $120M in funding over 8 rounds before its IPO in 2007.
Valuation & Acquisition: NetSuite's market capitalization reached $7.8 billion before it was acquired by Oracle in 2016 for approximately $9.3 billion.

Product Offerings and Features

NetSuite OpenAir PSA is a cloud-based solution used to manage projects, resources, and finances for service delivery.

Core Functions: End-to-end automation, real-time insights, maximization of billable resource utilization, and increased project profitability.
Key Modules: Timesheet and Expense Management, Resource Management (skill-based allocation and forecasting), Project Management (tracking tasks, milestones, and dependencies), Invoicing and Billing (automated scheduling, multi-currency), and Rules-Based Revenue Recognition.
Integration: Seamlessly integrates with NetSuite ERP and can integrate with third-party systems like Oracle EBS, SAP, Salesforce, and MS Dynamics.

Acquisitions and Product Expansion

Acquisition: OpenAir, Inc. was acquired by NetSuite in June 2008 for approximately $26 million in cash.
Product Expansion: Expansion is focused on continuous innovation and user experience improvements, such as global capabilities for international organizations and enhanced reporting features.
Parent Company Acquisition: NetSuite, along with OpenAir, was acquired by Oracle in 2016.

NetSuite OpenAir AI and New Features

Recent releases (e.g., 2024.2) introduced a completely redesigned homepage using the modern Redwood user experience.
New features include a global search functionality that is typo-tolerant and synonym-matching, and an updated "to-do list" to surface urgent, timely tasks for users across all roles.

Company Culture and Values

NetSuite's culture is rooted in being the first cloud company, emphasizing an integrated business system with embedded AI and native business intelligence.
The product's value proposition centers on ease of use for employees, providing real-time visibility, and enabling informed, data-driven decision-making to accelerate results.

User Base and Community

Serves professional services organizations of all sizes (startups, SMBs, and enterprises) globally.
Target industries include Consulting Firms, Clinical Research Organizations (CROs), Legal, Accounting, and Government Contracting.
Supports over 43,000 NetSuite customers worldwide as a core component of the suite.