“Go Beyond”

A growth story from a humble start

Oracle NetSuite, the cloud ERP solution for mid and entry market, successfully organised SuiteWorld 2019 in Las Vegas with the theme of Go Beyond. NetSuite witnessed 30% growth in revenue for Q3 quarter. The event attracted more than 5,000 attendees which included consumers, developers, partners, analysts and media. There were more than 100 partners and associates showcasing the solutions developed on

NetSuite used in various verticals like IT&ITES, BFSI, Manufacturing, Supply Chain, E-commerce etc.

Evan Goldberg, Executive Vice President, shared the NetSuite’s growth story from its humble start in 1998. During the course company changed strategy: Deliver services instead of product. Major leapfrog for company came with acquisition by Oracle in 2016.

Evan Goldberg said, “NetSuite benefited from acquisition by Oracle, the organisation enhanced its business to new markets. There has been three times growth in customer base.” He shared the blueprint of growth which has five factors: Visibility, Productivity, Collaboration, Control and Agility.

Evan stated that “For Visibility, an organisation should be able to find blind sports which can only be done when the organisation looks into its past, present and future thoroughly. For Control, the organisation should understand the destabilisers and distractors which are: economic change, trade agreements, localisation gaps, foreign exchange volatility and global adoption challenges”.

Oracle NetSuite has released the latest version NetSuite 2019, which provides improved integration, scalability, real time tracking and analysis. NetSuite incorporated BI tool SuiteAnalytics Workbook which provide real time data reporting.

John Pento from Deloitte Digital which has been an early user of Netsuite, shared the experience with Netsuite. He talked about the importance of control, risk management and lack of monitoring

control for Internal audit function in organisations. John mentioned challenges with scaling of business, lookout for future and assigning right function with right people. Netsuite helped Deloitte Digital with provisioning of various systems to communicate, scalability, usability and data security.

Evan Goldberg shared about customers’ issues where currency fluctuation was major concern along with human errors and material costs for organization doing global business. TaxSuite API was launched in the event to simplify the tax calculation issues which involve different tax rates across different states or countries.

For Agility, Even Goldberg said, “There are inflection points in business scenario which are evolving business models, new engagement platform and new marketing channels. Agility is important to deal with changed such as new technology adoption, new market development etc. Netsuite provide Omni business model solutions to consumers.”

For Omni business model solution new suite provides following functions: Support for lease accounting standard, Allocation and fulfilment, Commerce marketing, Suite billing, Project management and billing enhancement and New WMS solution.

NetSuite announced improved SuiteSuccess which fulfills functional requirements for various Industries. Following versions of SuiteSucess were released: Suite Success for Planning and Budgeting, International SuiteSuccess Financials First Edition and International SuiteSuccess Starter Editions

Mark Hurd said “The things which make NetSuite unique is development of true back office suite with SaaS. Oracle will keep investing in NetSuite and will help in growth of NetSuite across the geographies with their vast experience and expertise”

SuiteLifeis new partner engagement program which will be used at global level. SuiteLife program will help in partners to gain expertise for deploying NetSuite, thereby growing their business along with customer satisfaction.

Jason Maynard, SVP, Global Field Operations, NetSuite launched a new product NetSuite Brainyard, which provides data benchmarking and business research. Jason highlighted that “Organisations normally face issues of large investment, abstract data, proprietary and non- disclosure for doing business research. Brainyard has 20 years of intelligence derived from knowledge and industry experience by NetSuite”

“Organisations normally face issues of large investment, abstract data, proprietary and non-disclosure for doing business research.” —Jason Maynard, SVP, Global Field Operations, NetSuite

Evan Goldberg, EVP, NetSuite, shared the blueprint of growth which has five factors: Visibility, Productivity, Collaboration, Control and Agility

In his keynote Mark Hurd, CEO, Oracle, laid emphasis on homogeneous strategy. Mark stated “Main thing about a successful business is its strategy and most important is to communicate the strategy clearly to various stakeholders. All functions in the organisation should work in sync towards the defined strategy.”