The key to success in cloud based enterprise resource planning (ERP) is to synch all facets of a business. That’s the view of Evan Goldberg, Oracle NetSuite Founder and EVP.
NetSuite recently announced a range of updates to enhance the flagship product’s financial, inventory and operational capabilities,
designed to provide customers with an enhanced experience in collaboration across verticals.
According to Goldberg , “When you get to very large organisations, there’s a lot of compartmentalisation.”
“So the fact that [organisations] can learn one system and the way you search for something in the supply chain part of the system is the same way you search for something in the sales part of the system et cetera, just makes people a lot more productive with the technology.”
Products are services, increasingly
Goldberg cites Peloton and Tesla as examples of organisations that are both a product and service. He says that NetSuite’s exposure and experience across multiple industries gives the company a competitive advantage, where competitors are focusing on “one side or the other”.
According to Paul Farrell, SVP Product Marketing at NetSuite, “NetSuite handles services businesses and product-based businesses exceptionally well, our customer base is probably fifty-fifty, it absolutely excels at managing hybrid businesses. So no matter where a company is today or where it’s going to grow tomorrow, NetSuite will be able to fulfil its needs and requirements.”
Not only does NetSuite claim that it excels at managing businesses that cross multiple industries, but also that it covers a wide range of business sizes — from emerging, mid-market to global enterprises — without having to change the product suite. This allows companies to continue using the services as they grow and increase in sophistication.
“For companies who are growing and are going to grow substantially over time and change their business models, NetSuite is incredible at handling that,” says Farrell.
He highlights the fact that every NetSuite customer, despite its size or service offering, is using the same service package. This means that when an update occurs to one element of the service, each existing customer’s software is updated automatically. The company claims that this allows customers to have greater access to technology and to make better use of technological advancements.
For his part Goldberg says, “You get the most value out of NetSuite when you use all the parts, because that’s how you get this exponential value — all the connections between different pieces. That’s really how we’re different than sort of cobbling together a bunch of different applications that don’t really talk to each other.”