Category Archives: NetSuite

NetSuite Names New EMEA Lead

GettyImages 951695624 NetSuite Names New EMEA Lead

NetSuite Names New EMEA Lead

Posted by David Turner, Senior Marketing Director, EMEA, Oracle NetSuite

NetSuite is in a unique position. With our continued global growth, new product features and vertical offerings, we are ready to take our presence in EMEA to the next level.

NTozer NetSuite Names New EMEA LeadWith more growth ahead, I am pleased to welcome Nicky Tozer to her new role as Vice President of EMEA, Oracle NetSuite. Starting on 1st July, Nicky will lead the NetSuite business forward in EMEA and will be responsible for driving sales strategy and operations.

Prior to this new role, Nicky led NetSuite’s Northern Europe growth, establishing our presence across Benelux and the Nordics, and led the charge for further expansion in the UK and Ireland. Prior to joining NetSuite in 2012, she spent five years working within the Oracle Applications business in the manufacturing, retail and distribution industries. With over 20 years of experience in the IT industry, Nicky has worked across a number of disciplines in the field of ERP, CRM, EPM and Business Intelligence.

This is an exciting time for NetSuite. We recently expanded native localisations and customer support for EMEA businesses, including those recently announced for Germany and France, and we are excited to continue to help businesses across EMEA grow, scale and adapt to change as we expand into new markets.

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Why Going Global (with ERP) Doesn’t Need to be Scary

Posted by Barney Beal, Content Director

Expanding globally is an imperative for any business with serious ambitions for growth. Yet, the corresponding challenges that come with that growth – from managing new currencies, languages and taxation rules to gaining a comprehensive view of operations – can hold many organizations back.

At the recent SuiteWorld18 event in Las Vegas, three NetSuite customers shared their experiences expanding globally and rolling out a global ERP system that helped them manage operations. The panel session included Mark Hearn, Global Program Director of PageGroup, a professional recruitment specialist with 130 offices in 36 countries; Carlos Arce, IT Specialist with Movile, a Brazilian mobile application and online ticketing company with 10 subsidiaries across four countries in Latin America; and Norman Duce, Executive Manager at Australia-based REA Group, a digital property advertising company with worldwide operations, listing more than 4 million properties per month.

All three shared their experience implementing NetSuite OneWorld globally and what a difference a global ERP system can make.

“Simply just being able to get to the numbers quickly and know that they’re correct should not be underestimated,” Hearn said. “If we don’t take the time now to do the reset it just becomes harder and harder.”

Here’s some of their key takeaways:

Allocate more time than you think you need for change management 

“We put in estimates on what it would take to train and train and train again,” Duce said. “We could have doubled them.”

The NetSuite way may be better

“Changing internal processes to align with NetSuite looks like the hard road, but it’s actually the easy road,” Hearn said.

The Page Group was determined to adapt its methods to NetSuite rather than vice versa and it paid off in easing the implementation and improving some processes.

…but you may have to sell the process

There’s always a natural exercise to say “we’re different, we’re different,” Hearn added. For the Page Group, each country wanted “a faster horse” and not a new way of doing things.

“We talked less about the system and how we were really doing things [to help the business],” Hearn said.

You can still go agile implementing ERP

“We’re a tech company,” said Duce. “Putting in an ERP system in an agile way does work with some traditional touches. We found a blended approach worked very well.”

Don’t try to be perfect

“Perfection is the enemy of good,” Hearn said. “If you insist on perfection you’ll never deliver anything. One of my challenges was to get really good people to just do things well.”

Cloud ERP has helped to reveal some of the change activities, he added.

“When it took years to do the technology, everyone thought it was the technology,” Hearn said. “But when you can roll it out quickly you see the gaps.”

If You’ve Got a Big Project, Go Big

Page Group is deploying one instance of NetSuite OneWorld across 36 countries.

“If I do one a year, I’m going to get fired,” Hearn said. “Big companies have limited patience. It’s like ripping off the band aid.”

So, the Page Group is rolling out NetSuite in chunks.

“It’s easier to roll out multiple companies at the same time, rather than run legacy system,” Hearn said. “For us, five Asia sites will go live on the same day.”

Consider the impact on other systems

“Think about the whole end-to-end journey and the downstream systems,” Duce said. “It was beneficial to think about what we were doing with CRM to account for quote-to-cash.”

Test the government APIs (a lot)

Not all government tax integrations are the same, particularly in Brazil. Across city, state and federal tax rules, each entity can apply a different tax for services, that can mean about 3 million possibilities in taxation, according to Arce.

Move fast in unstable geographies

“In Brazil and Latin America there’s been some economic and political instability,” Arce said. “If you have an exchange rate for local work forces, you need to take that into account. It can vary 5 percent in one day. Last year’s plan is now totally different. If you take too much time your budget will only disappear.”

See the NetSuite OneWorld Data Sheet for more on global ERP.

Posted on Mon, June 18, 2018
by NetSuite filed under

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Future of Ecommerce Brighter than Ever in $5 Trillion Retail Industry

Posted by Ian McCue, Content Manager

Attendees of the Internet Retailer Conference & Exhibition (IRCE) left Chicago last week with a renewed sense of optimism. The future of internet retail looks as promising as ever before, as it eats up an increasingly big piece of the $ 5-plus trillion retail industry.

Industry experts and leaders from a wide variety of retailers shared trends, best practices and their vision of the future. Unsurprisingly, Amazon’s growing market share and strategies for both leveraging and competing against the retail giant were a popular topic.

IRCE%202 Future of Ecommerce Brighter than Ever in $5 Trillion Retail Industry

Read on for highlights from the conference:

Ecommerce shows no signs of slowing down

In 2017, internet sales accounted for 13 percent of all retail sales and that number could climb to 25 percent by 2024, according to Internet Retailer editor-at-large Don Davis. In his State of the Union address on ecommerce, Davis noted that digitally native brands – i.e. those that started online – saw a 55 percent spike in online growth.

He identified the “three scariest things” about Amazon, starting with Prime’s hold on affluent shoppers. Seventy-five percent of households with an income above $ 100,000 are Prime members, meaning Amazon has earned the loyalty of the most sought-after customers. Davis also pointed to Alexa’s lead in conversational commerce, as 11 percent of U.S. homes now have the device (Google Home is the next-closest competitor at 4 percent). Perhaps most alarming is that Amazon does not need to turn a profit in retail. In fact, it lost about $ 500 million in retail last year, making up for those concessions through Amazon Web Services and other verticals.

Driving online sales with in-store pickup

 Future of Ecommerce Brighter than Ever in $5 Trillion Retail IndustryOne of the few industries that has been slow to gain traction online is grocery. Meijer, a Midwest retail chain that sells groceries, electronics and household goods, encouraged shoppers to embrace ecommerce with in-store pickup. Customers can shop 80,000 SKUs online, then select a pickup date and time anywhere from three hours to seven days in advance. The shopper parks in a designated location where a Meijer associate greets them, handles the payment and loads groceries into their car.

Supporting buy online, pick up in-store required tightly integrated technology. Meijer’s ecommerce platform needed to communicate with the point-of-sale system to provide fulfillment instructions, handle out-of-stock products/substitutions and send out customer alerts. From a store perspective, Meijer repurposed cafes and stocking areas into staging areas for completed orders. It built carports to handle pickups at the initial stores, but at other locations it opted for reserved parking spaces to save on startup costs.

Making the case for Seller Fulfilled Prime 

About three years ago, Amazon launched a program called Seller Fulfilled Prime that allows companies to offer customers free two-day shipping while fulfilling and shipping the products themselves, rather than through Amazon. But many sellers have reservations about adopting Seller Fulfilled Prime (SFP) because they must ship orders the same day if the customer places an order by 3 p.m. local time and it must arrive within two days. However, companies can choose the Prime-eligible regions that make business sense.

Quick Candles is an ecommerce store that sells event supplies and decorations, and CEO Rob Latham detailed the tremendous benefits his company enjoyed with SFP. The program was a perfect fit for Quick Candles because it had lower rates negotiated with its carrier, most orders already shipped same-day and it can reach two-thirds of the U.S. in two days via ground shipping.

The online retailer saw a 25-40 percent increase in sales of items with the blue Prime badge while also gaining more buying power with carriers and suppliers. Latham recommended companies that have the ability to ship same-day sign up for an SFP trial, but start slow with just a few Prime-eligible items.

What does the future of retail look like?

In the years to come, retail will be an integrated experience where the lines between in-store, online and voice shopping are blurred, according to Erin Jordan of public relations firm Walker Sands Communications.

She shared a number of fascinating statistics from a recent Walker Sands survey, including:

  • 57 percent of consumers shop online at least once a month
  • 42 percent of consumers receive 1-2 packages from Amazon per week
  • 25 percent of consumers own a voice device and 20 percent of that group uses the device at least three times per day

Jordan predicted brands that create a “lifestyle,” don’t ditch their physical presence but reimagine it and find ways to drive adoption of voice will excel in the years to come.

How to drive sales with Amazon marketing

Since Amazon accounts for more than 40 percent of all online sales, it is a critical place to not only sell but also market your products. Chris Perry, senior director of ecommerce for Kellogg’s, and Melissa Burdick, Amazon veteran and CEO of day1digital, shared tips on how to maximize your marketing spend on Amazon. A few suggestions from Perry and Burdick:

  • Boost SEO by including misspellings in hidden search terms and figuring out the ideal way to structure item names for search.
  • Reviews are critical, and you can improve them by responding to negative reviews, answering questions, and participating in the Amazon Vine reviews program.
  • When using product display ads, which appear on product pages, target competitor listings with higher prices and lower ratings.
  • Optimize your product pages with rich “above the fold” and “below the fold” content and images, with special consideration for mobile displays.
  • Use automation tools for keyword research, competitive intelligence and reporting to optimize Amazon paid search efforts.

The findings and advice of these retail veterans are great takeaways that can help your business succeed in this ever-evolving field. While today’s environment is intensely competitive and presents an array of new challenges, there is limitless opportunity for companies who build the experience customers seek.

To make sure you are ready to take advantage of the continued growth of internet retail, learn how to make a next generation store a right now store.

Posted on Thu, June 14, 2018
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Barefoot Shoe Innovator Bucks Tradition to Sprint Ahead

Posted by Barney Beal, Content Director

To take the next step forward on an ambitious plan to double its revenue this year and grow to £100 million within the next five years, executives at VIVOBAREFOOT knew they needed to make some changes to both their processes and systems.

An Unlikely Founder for a Barefoot Shoe Company

The global barefoot shoe company had an unusual beginning. VIVOBAREFOOT was founded by Galahad Clark and his cousin Asher Clark, descendants of the Quaker brothers who founded Clark Shoes seven generations ago. While shoes were the family business, Galahad and Asher had a fascination with going barefoot, particularly after a friend learned he could eliminate the pain he felt when playing tennis by going barefoot. They formed VIVOBAREFOOT with a mission to change the footwear industry based on one simple insight—shoes should let your feet do their natural thing. Every shoe features a patented, ultra-thin, puncture-resistant sole that protects the foot and allows maximum sensory feedback.

From Algae Blooms to IoT-enabled, Shoe Innovation Drives Growth

Spurred in part by the fascination with barefoot running in the United States, VIVOBAREFOOT grew rapidly. Today, it sells roughly 100 different types of shoes with manufacturing conducted primarily in China, Portugal, where it makes its higher end products, and Ethiopia, as part of a fair trade social project. Recently, VIVOBAREFOOT has added a vegan line of shoes, an Internet of Things-based smart shoe and an amphibious adventure shoe made of Algae, not only ending the reliance on petrochemicals traditionally used in shoes, but also removing harmful freshwater algae.

Can a Shoemaker Make the Switch from Distribution to Ecommerce?

Amidst its growth, VIVOBAREFOOT realized that in order to continue its trajectory, realize the greatest possible margins on its products and maintain control over its brand and customer experience, it would need to focus on ecommerce and buck the longstanding history of the shoe business – either own the stores or be a wholesale distributor. With a flagship store in London, and 20 franchisees in Europe, VIVOBAREFOOT maintains a retail presence, but it has rapidly expanded online, including through marketplaces like Amazon and Zappos and with its own consumer website. In 2012, VIVOBAREFOOT sold 6,000 pairs of shoes online. In 2017, it sold 120,000 pairs.

VIVOBAREFOOT Sprints into the Cloud

Yet, the company’s existing systems, which included Prima for inventory and order management, Sage 50 for financials and Divendo for ecommerce could not handle the growth. The Prima system was out of date and costly to upgrade, reconciling data was a cumbersome, error prone manual process and everything required in-house IT support. VIVOBAREFOOT wanted a unified, cloud-based system that would facilitate interactions with the Chinese operations and accelerate the company’s next stage of growth. After evaluating SAP BusinessOne, Microsoft Dynamics NAV and Sage 200, VIVOBAREFOOT selected NetSuite for its native cloud architecture and comprehensive scope. It went live on NetSuite’s order and inventory management in June 2017 and is scheduled to go live on financials this June.

“NetSuite is incredibly flexible and the level of support we’ve had during the implementation has been fantastic,” said Damian Peat, Director of Operations at VIVOBAREFOOT. “The insights that will be available to us when we have the full NetSuite platform in place have us all excited for our next stage of growth.”

Learn more about NetSuite for apparel, footwear and accessories companies here.

Posted on Wed, June 13, 2018
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The Right Questions to Ask a System Integrator in Technology Implementations

Posted by Tom Schoen, CEO, BTM Global, Guest Blogger

schoen The Right Questions to Ask a System Integrator in Technology ImplementationsPurchasing or upgrading a retail application or system requires a web of logistics, to put it mildly. You may be working with several different vendors, and all require tight coordination to ensure your project proceeds steadily onward.

Technology providers – the vendor who sells you a merchandising system, ecommerce software, etc. – may provide their own system integration services or work with partners called system integrators (SIs).

A system integrator is a vetted and trusted partner of your technology provider. For example, NetSuite has several SIs they work with and from which you can choose which one best fits the skillsets you need and the cultural compatibility you want. Determining which SI best fits your organization’s needs can be critical to the success of the project.

What an SI delivers

An SI serves in both advisory and delivery roles. Depending on your organization’s size, in-house expertise and other needs, an SI can advise you on strategic technology planning, perform custom application development, implementation services, and deliver system integration and/or support. Retailers choose to partner with SIs on projects large and small; a good SI will tailor its services around the size and needs of your organization.

Take the example of a SuiteCommerce implementation. A system integrator will provide the implementation and integration services and, if needed, custom development. Implementations may require several vendors and partners, and an SI can facilitate the coordination of all of the third-party actors, increasing the efficiency of the project and freeing up your team to work on mission-critical tasks rather than coordinating work efforts and tracking timelines.

Beyond skills, an SI’s perspective is especially valuable in the current retail environment. With regulations changing, technology constantly evolving, and customer demands driving a fast rate of change, you cannot be (nor should you have to be) an expert on every detail of your IT systems. That’s where your SI comes in; they can be the experts on best practices, regulatory compliance, and ensuring that you are set up for long-term success (not just short-term gain).

Asking the Right Questions

It’s tempting to think of an SI as providing a commodity in a sense; that any one has the same expertise and delivers its services in the same way.

Not so.

There are stark differences in processes, expertise and the service of the teams you consider. Some key questions to ask:

  • Do they think strategically about your project and ask a lot of questions? Having a proactive approach will help them catch potential challenges or obstacles early on – maybe before you even realize them – and solve them faster.
  • Do the SI team and your team have a mutual respect and collaborative approach? Don’t overlook the importance of a culture fit.
  • Does the SI look at your business holistically and understand how the project will impact other areas, even beyond the stated scope? Or does the team have an “order taker” culture that gives you the sense they work from a template, no matter your circumstances?
  • Does the team only have tech backgrounds, or do they come from diverse areas like product development, performance engineering, or even merchandising and store operations? Expertise in the technology and application stacks you are using is essential. But expertise doesn’t just come from doing the same type of project over and over; it’s about the team’s diversity and creativity. Diverse experiences will give them a deeper understanding of your entire business, its needs and objectives.
  • How has the SI handled challenges and surprises? If an SI team has experience with many types of technologies, they’re more likely to deliver out-of-the-box thinking and creative problem-solving possibilities.
  • Is the team is made up of employees or primarily contractors? Employees will provide long-term stability over the life-cycle of your partnership with the SI. Contractors will come and go throughout the project, and any knowledge they have about you walks out the door when they do.

Finding the right partner

You put a huge effort into choosing the right technology for your organization and an equal effort is required to find the right integration partner to bring it to fruition. With an understanding of what an SI does and by asking the right questions, you can uncover the differences among your potential partners and chose the one that best fits your goals and culture.

Learn about the SIs that partner with NetSuite.

Posted on Mon, June 11, 2018
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Good Grows at SuiteWorld18 with the Hackathon 4Good

Posted by Morgan St. Clair, Social Impact Communications Manager

The winning teams for the 5th Annual Hackathon4Good are…  

Team Suite G.I.R.L. and Team Ability Makre!  

The SuiteWorld18 Hackathon 4Good was another success this year with 78 customers, partners, and NetSuite employees coming together to solve challenges for our nonprofit customers, Girl Scouts of the USA and Abilities Centre. During the 12-hour event, participants formed into teams to work on one of the two challenge problems. Eight teams worked with the Girl Scouts of the USA, and seven worked with Abilities Centre, all seeking to develop the best prototype solution for each organization. Teams then presented their prototypes, and a panel of six judges identified a winning team for each organization.   

IMG 0539 Good Grows at SuiteWorld18 with the Hackathon 4Good

Ability Centre Links Website Bookings as Transactions within NetSuite 

Team Ability Makre, who worked with the Canadian organization Abilities Centre, leveraged the organization’s current website to enable customers to create bookings that will directly create transactions within NetSuite. This concept eliminates a requirement that forced staff to book calendar events into Outlook for management and then use the calendar functionality in NetSuite to view room bookings.  

“We have returned highly charged about the opportunities laid out for us by the experts at Hackathon 4Good,” Eric Storey, Director of Operations at the Abilities Centre, concluded at the end of the day.   

Girls Scouts Streamlines “Dough” Credit Process 

For the Girls Scouts, Team Suite G.I.R.L created an app for finance administrators to simplify the dough credit creation process.  When Girl Scouts sell cookies, they earn internal “cookie dough” that is tracked by each council. Headquarters must manage the balance for each Girl scout and invoice each council. Team Suite G.I.R.L. created a solution that completely automates the settlement between the councils and the parent organization. The app enables complete visibility to dough credits, along with providing a robust dashboard for metrics, which eliminates manual work.  

Thank you to everyone that came out to support the organizations at the Hackathon 4Good! We hope to see you next year! Special thanks go to our judges, Elham Ghassemzadeh, David Geilhufe and Doug Williams.   

To learn more about the Social Impact software donation and pro bono services and to refer a nonprofit visit www.netsuite/socialimpact  or email socialimpact@netsuite.com.

Posted on Fri, June 8, 2018
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Wholesale distributors build foundation for growth

og image Wholesale distributors build foundation for growth

Thousands of Wholesale Distributors Including Kitchen Art and Circle Valve Technologies Improve Business Operations with NetSuite

SAN MATEO, Calif.—June 6, 2018—To successfully adapt to a rapidly changing business environment, thousands of wholesale distributors have selected NetSuite to improve business performance, increase customer satisfaction and stay ahead of the competition. For example, Kitchen Art, one of the largest distributors of kitchen cabinets in the southeastern United States, and Circle Valve, a distributor of industrial valves, fittings, filters, and measurement control devices, selected SuiteSuccess for Wholesale Distribution and implemented NetSuite to streamline the management of financials, inventory and reporting.

Kitchen Art Improves its Business Systems with NetSuite
Started in 1989, Kitchen Art provides design and installation services out of its three offices in Florida through more than 900 job sites a month. To successfully grow its business and manage increasing complexity, Kitchen Art selected NetSuite SuiteSuccess for Wholesale Distribution in September 2016. With SuiteSuccess, Kitchen Art is able to quickly and easily track orders, inventory, finances and operations, while also customizing business-specific workflows across processes like product selection and order entry. As a result, the Kitchen Art management team has been able to improve decision making and drive efficiencies by gaining unprecedented visibility into business operations.

“As we continue to achieve great success in our industry, NetSuite is helping us expand even further in Florida and the southeast US,” said Rick Cuseo, VP of Finance, Kitchen Art. “NetSuite, along with our outstanding employees and valued customers, are the secret sauce that help to fuel our growth.”

Circle Valve Prepares for Next Stage of Growth with NetSuite
Founded by two friends in 1986, Circle Valve Technologies has grown into a world class supplier of precision valves, fittings and controls. Today, the company operates an 8,000-square-foot facility that houses roughly $ 1.2 million in inventory. To continue to expand its business, Circle Valve Technologies needed a strong business management system. After a careful evaluation, Circle Valve Technologies selected NetSuite SuiteSuccess for Wholesale Distribution in August 2016 for its comprehensive functionality, cloud-based architecture and ease of implementation.

“Circle Valve Technologies has been built on strong technical expertise, inventory management and customer service,” said Chris Simmons, General Manager, Circle Valve Technologies. “To support our next stage of growth, we needed a new business management system and NetSuite has been phenomenal. It’s everything we need all in one system. The amount of detail I can get from a customer record just by clicking the dashboard view is staggering.”

For more information on SuiteSuccess for Wholesale Distribution, visit: www.netsuite.com/suitesuccesswd.

About Kitchen Art
Since 1989, Kitchen Art has set the standard for high-end custom kitchen cabinetry design and installation, and quality remodeling. To learn more visit http://kitchenartdesigncenter.com.

About Circle Value Technologies
Circle Valve is a value-added distributor and manufacture rep of industrial valves, fittings, filters and measurement control devices for a variety of industries and applications. To learn more visit https://www.circlevalve.com.

About Oracle NetSuite
For more than 20 years, Oracle NetSuite has helped organizations grow, scale and adapt to change. NetSuite provides a suite of cloud-based applications, which includes financials / Enterprise Resource Planning (ERP), HR, professional services automation and omnichannel commerce, used by more than 40,000 organizations and subsidiaries in 199 countries and territories.

For more information, please visit http://www.netsuite.com.

Follow NetSuite’s Cloud blog, Facebook page and @NetSuite Twitter handle for real-time updates.

About Oracle
The Oracle Cloud offers complete SaaS application suites for ERP, HCM and CX, plus best-in-class database Platform as a Service (PaaS) and Infrastructure as a Service (IaaS) from data centers throughout the Americas, Europe and Asia. For more information about Oracle (NYSE:ORCL), please visit us at oracle.com.

Trademarks
Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

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NetSuite's Latest Press Coverage

NetSuite Named a Leader by Gartner in the MQ for Cloud Core FMS for Midsize, Large and Global Enterprises, 2018

Posted by Paul Farrell, Vice President, Product

Founded in 1998 as a cloud financials solution to solve the problems of fast growing businesses, NetSuite is now used by more than 40,000 organizations and subsidiaries in 199 countries. It has solidified its position as a pioneer and a cloud leader. And Gartner agrees.

Gartner has named NetSuite a Leader in the Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises. What does this mean? Here are my three key takeaways:

  • NetSuite is one of only three solutions listed in the Leaders quadrant.
  • NetSuite is the only Leader that serves businesses of all sizes across all major regions.
  • NetSuite has more customers using cloud financials than any other solution in the quadrant.

gartner high res NetSuite Named a Leader by Gartner in the MQ for Cloud Core FMS for Midsize, Large and Global Enterprises, 2018

How is a “Leader” defined? According to Gartner: “Leaders demonstrate a market-defining vision of how core financial management systems and processes can be supported and improved by moving them to the cloud. They couple this with a clear ability to execute this vision through products, services and go-to-market strategies. They have a strong presence in the market and are growing their revenue and market share. In this market, Leaders show a consistent ability to secure deals with enterprises of different sizes, and have a good depth of functionality across all areas of core financial management. They have multiple proofs of successful deployments by customers, both in their home region and elsewhere. Their offerings are often used by system integrator partners to support finance transformation initiatives.

Leaders typically address a wide market audience by supporting broad market requirements. However, they may fail to meet the specific needs of vertical markets or other, more specialized segments, which might be better addressed by Niche Players particularly.”

Among 12 solutions in Gartner’s Magic Quadrant, we believe NetSuite delivers a suite that was “born in the cloud” with complete finance and accounting, billing, revenue recognition, governance, risk and compliance (GRC), global financial consolidation and more. In addition, by keeping to its vision to enable customers to grow their business, NetSuite continues to innovate to deliver a complete cloud business management suite. Recently, NetSuite introduced more than 20 major enhancements to its core application. With two planned software releases a year, customers are always on the latest version of the software with all the new features and functionality instantly available.

The demand for cloud FMS solutions is predicted to continue to grow. Gartner states that “by 2020, nearly 60 percent of large enterprises with systems up for replacement will switch from traditional on-premises licenses to SaaS or subscription licenses” and that “by 2025, demand for financial management application deployments delivered as cloud services will equate to over 65 percent of total spending in the financials market.”

NetSuite customers include some of the most innovative, fastest growing companies in business today. Read our stories on hint water, VIVOBAREFOOT and Loot Crate. Do you want a financial management solution reengineered for the cloud or one built on the cloud since Day One?

Read the full Gartner Magic Quadrant for Cloud Core FMS for Midsize, Large and Global Enterprises report.

Gartner Magic Quadrant for Cloud Core FMS for Midsize, Large and Global Enterprises report, Anderson, Robert, Guay, Mike, and Van Decker, John, 5/29/18.

This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request from Oracle NetSuite.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Posted on Tue, June 5, 2018
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G2 Crowd Names NetSuite Leader in Nonprofit Accounting Software

og logo g2crowd 927f448fdce49f503b83e2c47067d218a9d6236a86875b3842cfe596eceabb2a G2 Crowd Names NetSuite Leader in Nonprofit Accounting Software

G2 Crowd Names NetSuite Leader in Nonprofit Accounting Software

Posted by Morgan Carey, Nonprofit Industry Marketing Lead

Following on a strong list of industry awards, NetSuite has been named a leader in Nonprofit Accounting based on peer-to-peer reviews. NetSuite offers a true nonprofit accounting solution, including fund & grant accounting, automated FASB reporting, and simplified financial segmentation.

NetSuite’s nonprofit customers include Alex’s Lemonade Stand, Brightpoint Health, Idaho Farm Bureau and San Francisco SPCA, leveraging cloud ERP to manage their operations and focus on their social missions. This accolade, driven by actual users providing reviews about the products they use to run their organizations, solidifies NetSuite’s position as the industry leading solution for nonprofits looking to grow their social impact.

G2 Crowd is a leading peer-to-peer review platform for business software. Their research reports and vendor comparisons are based on user ratings and social data.

 G2 Crowd Names NetSuite Leader in Nonprofit Accounting Software

About G2 Crowd, Inc.

G2 Crowd, the world’s leading business solution review platform, leverages more than 360,000 user reviews to drive better purchasing decisions. Business professionals, buyers, investors, and analysts use the site to compare and select the best software and services based on peer reviews and synthesized social data. Every month, nearly one million people visit G2 Crowd’s site to gain unique insights. G2 Crowd aims to bring authenticity and transparency to the business marketplace.

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Early Adopter Use Case: Blockchain Energizes Solar Company’s Business

Posted by Emily Houghton, Industry Marketing Lead

Blockchain may be one of the most hyped technologies around, but forward-thinking organizations are already finding ways to take advantage of the distributed ledger, and not just in the most commonly cited industries like financial services and supply chain.

Solar Site Design provides a collaborative platform built to gather information about solar projects. It’s been a NetSuite customer since 2007 and is one of the first companies to take advantage of the integration between NetSuite and Oracle Blockchain Cloud Service.

“Energy is going through what we call the next industrial revolution,” Jason Loyet, CEO of Solar Site Design, said. “We are driving down the cost of equipment, engineering and design, resulting in more energy projects and more competition.”

Loyet and Nathaniel Enders, Co-Founder of the Energy Blockchain Network, a blockchain consortium, demonstrated how they are innovating in the solar industry using distributed ledger technology in the final installment of NetSuite’s Blockchain and Cryptocurrency Webinar Series, “Using DLT to Scale.”

When is blockchain the right fit?

Enders urges companies considering blockchain or distributed ledger technology to think of them just like any other IT infrastructure.

“You need to look at the business and understand what the problem is, who the user is and what the network needs to look like,” he advised, adding that blockchain will not be right for everyone, but, “If you have multiple parties across organizations or countries that all need to have visibility into a set of transactions on a common ledger…then it might be a fit.”

Why blockchain for Solar Site Design

Solar Site Design helped found the Energy Blockchain Network in 2018 to solve a unique challenge. With its collaborative platform, Solar Site Design works with multiple parties that work independently, but each party delivers value at different stages and is compensated for that value on different terms.

“We needed an immutable record for the state of a project, so that everyone—all the stakeholders in that ecosystem—could go to one place and see where that project was at,” Enders said.

Immutability, one of the key characteristics of the blockchain, is the idea that records are tamper-proof and cannot be changed once stored on the blockchain. When working in an ecosystem of independents, this is essential. With blockchain, the trust that is established between Solar Site Design and any of its sub-contractors is controlled by the system rather than any of the individuals involved.

“What we can do with the blockchain is precisely program in what each state of the project is and what is required to help move that state forward so that the next party can participate,” Enders explained. “Then, we can automatically program in reward distributions for the value contributions. The ability to reward and incentivize participants earlier for the value they deliver is critical to efficiency.”

NetSuite and the Oracle Blockchain Cloud Service

Solar Site Design’s blockchain application is built on the Oracle Blockchain Cloud Service (OBCS), a private and comprehensive distributed ledger cloud platform. OBCS features a turnkey administrative console that allows users to set up a blockchain without being forced into the open source community. Moreover, the solution is delivered by Oracle as a Platform-as-a-Service (PaaS), so that customers are not burdened by infrastructure maintenance or security.

“We are really happy how the [NetSuite] SuiteCloud platform enables easy integration with our Blockchain apps on OBCS,” Loyet said. “It’s really exciting how we can leverage the existing ways that we are using NetSuite to explore new ways to develop smart contracts and manage the projects and reward programs within blockchain.”

Inherent features of the cloud have been essential to Solar Site Design’s model as well.

“The anytime, anywhere access allows for anyone on our team or any of our engineers to access full details of a project and update statuses,” Loyet said. “That’s been really important for us and it’s very scalable.”

The promise of blockchain 

Setting aside cryptocurrency, blockchain growth in the enterprise market across various industries looks encouraging. Indeed, Gartner predicts that blockchain will create $ 176 billion of business value-add by 2025.

“There is a whole myriad of energy applications and downstream use cases that [blockchain] can unlock," Enders said.

Early adopters like Solar Site Design recognize the value of distributed ledger technology and are paving the way for other companies and industries. However, Loyet recognizes the importance of having a flexible infrastructure in place to innovate on.

“We have really aggressive aspirations and we know NetSuite is the right architecture to build our platform on and scale,” he said. “We’re looking at the global ways we can manage the projects and set up the trust and smart contracts to enable our next phase of growth.”

To see the demonstration of Solar Site Design’s blockchain solution and learn more about their use case, watch the webinar.

Interested in viewing the other webinars in the Blockchain and Cryptocurrency Series? Follow the links below to watch the on-demand recordings!

Part 1: What Every Executive Needs to Know, featuring Andy Brown, CEO, Sand Hill East and Jason Maynard, SVP of Strategy and Marketing, Oracle NetSuite

Part 2: Maximize Potential, Minimize Risk, featuring Ray Wang, Principal Analyst and Founder, Constellation Research Inc. and Ranga Bodla, Head of Industry Marketing, Oracle NetSuite

Part 3: Perspectives from R3, featuring Carlos Arena, Director of Business Development, R3 and Scott Derksen, Sr. Director of Business Development, Oracle NetSuite

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