At this week’s Wells Fargo Securities Third Annual Tech Transformation Summit, Nelson also talked about the intention of his San Mateo, Calif.-based company to reach $1 billion. NetSuite had $308.8 million in revenue last year, which represented a 31-percent increase over 2011. Nelson’s comment about when the goal would be reached was “You do the math.” And for those who are baffled by Wall Street’s embrace of NetSuite with its lack of GAAP earnings, they should consider the remarks made by the moderator (whose name was not given during the webcast replay), who suggested that NetSuite could accept lower margins in order to spend for growth, which he called “sacrilegious” in the investment field. Interestingly, Nelson said very clearly that large companies often do not want their financial systems in the cloud. “We’re running, not financials, but order-to-cash processes,” Nelson said in characterizing his company's products. “People do not necessarily want to do financials in the cloud, but they want business processes in the cloud.” He said ecommerce is “order-to-cash with a different UI on it.”  Nelson, who often disparages the competition, had this gem about Siebel Systems: "Siebel never worked. It didn't kill the company that it never worked. We just wasted a lot of unnecessary money."