Netsuite CEO Speaks On CNBC's Power Lunch (N)

NetSuite

CEO Zach Nelson addressed CNBC's Power Lunch today. He discussed the astronomical rise of the cloud computing industry. NetSuite started about 10 years ago when its current software being used began development. Nelson says this was and is one of the great things about NetSuite, the competition or lack there of. Because it took so many years to develop the current model, it makes it hard for big players like Microsoft

, Cisco

, and IBM

to compete, espeically with the complexity of the application. They have other core businesses to focus on right now. Sure the big players may immerse themselves in the cloud computing industry down the line, but right now, companies like NetSuite are rolling in the profits. NetSuite Inc. provides an on-demand, integrated business management application suite, which provides Accounting/Enterprise Resource Planning (ERP), Customer Relationship Management (

) and Ecommerce functionality to medium-sized businesses and divisions of large companies. NetSuite shares have surged higher since the interview and is up about 12% on the day Learn how to find the best

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