NetSuite

NetSuite
source
Name	NetSuite
Developer	Oracle Corporation
Released	0 1998
Genre	Enterprise resource planning, Customer relationship management
License	Software as a service

NetSuite. It is a cloud-based business management software suite offered by Oracle Corporation, encompassing enterprise resource planning, customer relationship management, and e-commerce capabilities. Founded in 1998 as NetLedger, the company pioneered the delivery of enterprise applications via the Internet. Its integrated platform is designed to provide a unified system for managing core business processes across finance, operations, and customer relations.

Overview

The platform provides a comprehensive, unified suite for managing business operations, primarily delivered through a software as a service model. Its core applications integrate financial management with supply chain management, professional services automation, and omnichannel commerce. This integrated approach aims to provide a single source of truth for data, eliminating the need for disparate systems from vendors like SAP SE or Microsoft Dynamics. The system is used by organizations across various industries, from mid-sized businesses to large Fortune 500 enterprises, facilitating global operations with support for multiple currencies, taxation rules, and languages.

History

The company was founded in 1998 by Evan Goldberg with backing from Oracle Corporation co-founder Larry Ellison, initially operating under the name NetLedger. It launched one of the first cloud-based accounting software applications, challenging traditional on-premise vendors like Intuit and Sage Group. In 2007, the company completed an initial public offering on the New York Stock Exchange under the symbol N. A significant milestone occurred in 2016 when Oracle Corporation announced its acquisition, a deal valued at approximately $9.3 billion. This acquisition by the Redwood Shores-based giant marked a major consolidation in the cloud enterprise application market, integrating the suite into Oracle's broader cloud portfolio alongside Oracle Fusion Cloud Applications.

Products and services

The core offering is NetSuite ERP, a comprehensive financial management system handling general ledger, accounts payable, and financial reporting. This is complemented by NetSuite CRM, which manages sales force automation, marketing automation, and customer support cases. For commerce, SuiteCommerce enables integrated B2B and B2C e-commerce platforms. Additional specialized products include NetSuite PSA for professional services automation, SuitePeople for human capital management, and industry-specific editions for sectors like retail, manufacturing, and nonprofit organizations. Services are typically sold through a direct sales force and a global network of value-added reseller partners and system integrators.

Technology and architecture

The system is built on a multi-tenant architecture, where all customers operate on the same version of the software within secure, partitioned instances on shared infrastructure. It utilizes a unified database schema to ensure data consistency across all modules, from inventory management to order management. The platform is highly customizable using SuiteCloud, a development framework that includes SuiteScript (based on JavaScript), SuiteFlow, and SuiteBuilder. It supports integration with external systems via application programming interfaces and web services, and its data center operations are managed by Oracle Cloud Infrastructure, ensuring global availability and compliance with standards like SOC 1 and the Payment Card Industry Data Security Standard.

Market position and competitors

As a leader in the cloud ERP market, it competes directly with other major vendors such as SAP S/4HANA Cloud, Microsoft Dynamics 365, and Workday Financial Management. Its position was significantly strengthened following the acquisition by Oracle Corporation, allowing it to leverage Oracle's extensive global sales and support channels. Key differentiators often cited include its native cloud architecture, single unified suite approach, and flexibility for mid-market companies. The competitive landscape also includes more focused solutions from companies like Salesforce in CRM and Infor in industry-specific ERP, as well as newer entrants leveraging artificial intelligence and machine learning in business applications.

Category:Oracle Corporation Category:Cloud computing Category:Enterprise resource planning