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NetSuite posted record earnings for the fourth quarter and 2011 fiscal year. The ERP SaaS provider had $64.1 million in revenues, representing a 23% increase over the prior year. Total revenue for the year was $236.3 million, a year-over-year increase of 22%.

NetSuite represents how fast the ERP SaaS market is growing. Here's a summary put together by Louis Columbus on his blog, A Passion for Research. The numbers reflect the overall SaaS market and points to what we can expect to play out in the ERP SaaS market:

According to IDC, by 2015, about 24% of all new business software purchases will be of service-enabled software with SaaS delivery being 13.1% of worldwide software spending. IDC further predicts that 14.4% of applications spending will be SaaS-based in the same time period.

All the companies in the ERP space will put considerable attention into their channel and partner programs this year.

Matthew Weinberger of Talkin' Cloud wrote this about NetSuite:

NetSuite's overall channel grew 50 percent, with the North American channel growing 150 percent on its own. NetSuite CEO Zachary Nelson attributed that growth to the fact that its service provider and VAR partners took some time to get up to speed with the cloud, but in 2011 the switch was flipped. Nelson said he is counting on partners to continue to do well for NetSuite in 2012.