Friday, 26 October 2018 09:33

NetSuite drives growth, enters new markets

By
Oracle Netsuite executive vice-president Evan Goldberg Oracle Netsuite executive vice-president Evan Goldberg

"NetSuite companies do grow faster," according to Oracle NetSuite executive vice-president Evan Goldberg.

Published growth rates for S&P 500 and MSCI Emerging companies are 6% and 8% respectively, but companies using NetSuite are growing at an average of 17%, Goldberg said.

And those using the more advanced features are growing even faster: NetSuite Oneworld (the multi-national version) is associated with growth of 19%, NetSuite plus SuiteCommerce 24%, and NetSuite Oneworld plus SuiteCommerce 44%.

To support its own growth outside North America, NetSuite recently introduced localised versions for France and Germany, and is working on a push into China.

Technical changes to enable these efforts include the SuiteTax API, which allows NetSuite to work with country-specific (and if necessary industry-specific) tax engines provided by the company or its partners.

Another is integration with the WeChat messaging and payment app widely used in China. "We're going to do similar integrations" for other countries, said Goldberg.

The localisations are important for companies that do business in these countries, as well as those based there, he noted.

SuiteCommerce has been recently improved with "great new themes"; support for blogging, image manipulation and Google Tag Manager; and broader support for B2B and B2C businesses.

Oracle's Bronto email marketing product is now "deeply integrated" with NetSuite for B2C marketing.

SuiteAnalytics has been extensively reworked, with the new version being beta tested in the 18.2 release. Changes include being able to query on any field or record, drag and drop query building, pivots, and customisable charts. The new version will be made generally available as part of NetSuite's 19.1 release, Goldberg said.

Reworked dashboards will also be a feature of 19.1. In addition to a visual redesign, new features will include multiseries data for trend graphs, headline KPIs, and integrated analytics.

Budgeting and planning has been enhanced with Oracle's Hyperion technology, supporting what-if modelling, built-in financial intelligence, integration with NetSuite financials, and reporting in Word, Excel and PowerPoint reporting.

NetSuite currently runs on the Oracle Cloud Infrastructure, but "we're all in on the Gen 2 cloud" and will be moving to the new platform in North America, South America, Europe, the Middle East and APAC by the end of 2019.

The first step to Gen 2 will be for demo accounts running in the Frankfurt data centre, probably in the first quarter of 2019, with the full suite running there by the middle of the year.

The migration involves some fundamental changes, Goldberg said, including the adoption of a software defined data centre approach that will allow a more rapid rollout to other OCI Gen 2 data centres.

"We're going to fill them up around the world," said senior vice-president of marketing and strategy, Jason Maynard.

The writer attended Oracle Open World as a guest of the company.

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Stephen Withers

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Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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