Netsuite was established in 1998 by Oracle alumni Evan Goldberg as an Enterprise Resource Planning (ERP) platform designed specifically for small and midsize businesses.
Oracle made this move to enhance their cloud business line and better compete against primary rival Salesforce.
Cloud-Based ERP Solutions
Oracle announced their acquisition of NetSuite, a leading cloud-based ERP solution. This move is meant to expand Oracle into small and midsize business markets where it does not currently hold much sway.
NetSuite’s integrated suite of enterprise resource planning (ERP) software covers finance, accounting, inventory management and ecommerce – as well as offering modules for sales service marketing human resources management.
ERP system from this vendor-managed provider offers multi-tenant functionality and updates automatically, giving customers access to one version of software and backend infrastructure that creates economies of scale.
NetSuite ERP solutions are perfect for growing businesses looking to cut IT expenses and data migration costs while speeding implementation times compared to on-premise systems; implementation typically takes from 4-8 months without disrupting operations.
One-Size-Fits-All ERP Solutions
Netsuite ERP software provides businesses of all sizes with one-size-fits-all ERP solutions that offer comprehensive inventory management, accounting and customer service tools in one comprehensive suite of apps.
Oracle’s purchase of NetSuite is part of an overall plan to transform their business model and adapt to the new world of cloud computing. According to co-CEO Mark Hurd, 70%-80% of enterprise companies will have switched over their IT infrastructure from on-premises systems to cloud services within 10 years.
NetSuite is an industry-leader and provides small to mid-sized businesses with an affordable cloud ERP solution, giving complete visibility into business data as it expands with them. With NetSuite you have complete visibility of data while being scalable enough for as it grows with your company.
Two-Tier Approaches to ERP Solutions
Two-tier approaches are becoming more and more popular among organizations looking for both an ERP system at their corporate level and software that meets subsidiary needs, simultaneously. These strategies enable an organization to keep an existing legacy application (Tier 1) running at head office while giving subsidiaries their own tier of ERP tailored specifically for them.
Under a typical two-tier ERP strategy, the head office typically utilizes a highly integrated and resource-intensive Tier-1 ERP solution to run key business processes while subsidiaries utilize less resource-intensive Tier-2 solutions for day-to-day functions.
Two-tier solutions offer many long-term advantages, yet there are a few considerations to keep in mind when adopting one. Most importantly, ensure the dividing line between systems is strategically positioned so integration remains as seamless as possible.
One other large-scale benefit is that two-tier systems require less IT resources, thus cutting operational costs. Employees can focus their energy elsewhere instead of working with an outdated legacy system; moreover, having access to comprehensive information helps make better decisions and increase overall company efficiency.
Operations efficiency can be one of the greatest challenges faced by organizations. Optimizing processes can dramatically enhance overall performance as well as employee motivation.
Traditional processes often entail tedious, time- and resource-consuming tasks that consume too much of both, increasing the risks of miscommunication, forgotten procedures and lost paperwork.
Advanced software can easily assist businesses in reaching these objectives by automating routine tasks and freeing employees up for more important work. Furthermore, such solutions can assist organizations by streamlining communications among departments to ensure information passes quickly and reliably between departments.
Oracle-NetSuite’s acquisition was an essential move, providing both businesses an opportunity to increase cloud revenues while expanding into smaller to mid-tier markets.
Oracle and NetSuite have released new updates designed to assist their customers in improving their finances, supply chain operations, HR management practices, project management strategies and nonprofit organization capabilities. These innovations will enable businesses to better oversee operations while increasing productivity while creating an exceptional customer experience.
Deepak Wadhwani has over 20 years experience in software/wireless technologies. He has worked with Fortune 500 companies including Intuit, ESRI, Qualcomm, Sprint, Verizon, Vodafone, Nortel, Microsoft and Oracle in over 60 countries. Deepak has worked on Internet marketing projects in San Diego, Los Angeles, Orange Country, Denver, Nashville, Kansas City, New York, San Francisco and Huntsville. Deepak has been a founder of technology Startups for one of the first Cityguides, yellow pages online and web based enterprise solutions. He is an internet marketing and technology expert & co-founder for a San Diego Internet marketing company.