NetSuite Exposed - Executive Summary
Founded in September 1998 as accounting software company NetLedger and majority owned by Oracle CEO Larry Ellison, NetSuite Inc is a developer of a Software as a Service (SaaS) and integrated business application suite that includes Customer Relationship Management (CRM) software , accounting software, Enterprise Resource Planning (ERP) software, and ecommerce storefront software for small and medium-sized businesses (SMBs).
NetSuite’s enterprise-wide hosted ERP application stands in stark contrast to the many software as a service (SaaS) best of breed solutions. Many of these attempt to assemble mission critical business software systems but in reality they have cobbled together different providers who leverage different technologies, different user interfaces, different hosting locations, different Service Level Agreements (SLAs) and different help desks or customer support offerings. Prior to Netsuite’s offering, SMB customers have been forced to purchase one business application for accounting, another for order fulfillment, another for human resources, another for customer relationship management or other piece meal or systems for various other departmental needs. NetSuite’s enterprise-wide ERP system significantly reduces the cost and complexity of purchasing, implementing, integrating, supporting and upgrading the many different line of business applications found from multiple vendors. Instead of the customer bearing these difficult tasks, NetSuite allows companies to advance from stove pipes of isolated and disjointed data and multiple dissimilar systems, to a fully integrated solution which delivers an enterprise view and manages all key business operations with a single system.
Analyst firm, Datamonitor explains it well by stating:
“Tightly integrated suites that are delivered through the on-demand model represent a win-win situation for the vendor and end-user. Integrated suites address the need of end-users to achieve improved collaboration between different enterprise software, but without the additional costs of employing integration consultants. In effect, the end-user of an integrated on-demand suite passes on the costs of extensive application-to-application integration, data synchronization, and IT management to the vendor.”
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