Oracle NetSuite
Founded in 1998, NetSuite (netsuite.com) has a valid claim as a pioneer in cloud computing, and as one of the first companies to deliver business applications over the Internet. Acquired in 2016 by Oracle, and headquartered in Austin, Texas, USA, NetSuite provides an integrated business system that includes cloud-based financials, Enterprise Resource Planning (ERP) and omnichannel commerce software that runs the business of more than 26,000 customers in 215 countries. The Oracle-NetSuite combination is the world's largest cloud software company.
Take a closer look at Oracle NetSuite.
Product Capabilities
ERP
Accounting Software
Global Business Management
CRM
Human Capital Management
Professional Services Automation
Omnichannel Commerce
Analytics
Financial Management
Financial Planning
Order Management
Procurement
Production Management
Supply Chain Management
Warehouse & Fulfillment
Target Industries
Advertising and Digital Marketing
Apparel, Footwear & Accessories
Consulting
Education
Energy
Financial Services
Food and Beverage
Health and Beauty
Healthcare
IT Services
Manufacturing
Media and Publishing
Non-Profit Organizations
Professional Services
Restaurants and Hospitality
Retail
Software and Technology
Transportation and Logistics
Wholesale Distribution
Strategy
NetSuite offers a modular product accessed via the cloud. Depending on the choice of modules, the platform can support management reporting, accounting, billing, human resources management, tax calculation, sales tools, payroll accounting and analytics. The cost of a NetSuite subscription is not fixed, it depends on the modules selected and the size of the company.
Ultra Insight
Industry analysts consistently rate Oracle NetSuite as one of the best ERPs because of its strong financial management capabilities. It is well-suited to mid-size businesses, manufacturers and other companies that that require its advanced features.
From Distribution ERP Vendor Report (2021) DOWNLOAD
NetSuite was acquired by Oracle in 2016. Unlike many of the Oracle purchases, Oracle has invested heavily in NetSuite as its own global organization, with a focus on the small to medium-sized market. This has resulted in an increase in both presence, through growing staff, and functionality for the product. NetSuite has increased by over 6,000 new customers in the last year.
Historically, most of NetSuite’s customer base has been in North America. However, this has changed to an ever-growing international market that NetSuite supports with 27 language and localizations for this market. In addition, more than 51% of their North American customer base operate in multiple countries.
NetSuite is built as a single database solution that has evolved through enrichment of the core functionality, not through acquisition of complementary software. The single database allows NetSuite to offer a simpler pricing model where you purchase the full functionality of the product. NetSuite also allows you to jumpstart implementation through access to Suite Success – bundles of pre-configurations created specifically for industry sub-verticals. Highly configurable software also allows NetSuite customers to avoid customization through personalization gained through configuration.
If you do not find the specific functionality that you need within NetSuite, there is also the SuiteApp.com. This is a marketplace managed by NetSuite where customers can find third-party apps that can be fully integrated into NetSuite. NetSuite works with the partner companies on SuiteApp. com to ensure that their software works with NetSuite, even after software upgrades are pushed by NetSuite.
Major upgrades occur twice per year, with minor upgrades or bug fixes pushed out more immediately. Sometimes new upgrades provide functionality that customers want to try before they implement. NetSuite provides training and a sandbox to customers to determine if they want to add it to their business processes or want to ignore it.
In short, NetSuite’s competitive advantages are its speed to implementation and ability to easily find pre-developed customizations through SuiteApp.com. Its cloud structure and ease of configuration make it a good solution for the distribution company that does not have a deep IT bench for either implementation or ongoing support.
