Catering To Growth Companies, Oracle NetSuite Unveils New Automation, Analytics Capabilities

NetSuite Expands Product Portfolio For Those That Thrive Amid Chaos

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After years of expanding its reach into the SMB market, Oracle NetSuite is adding bells and whistles to the suite that will help its customers increase agility and accelerate growth with new commerce, HR, financial and operations, project management and supply chain capabilities.

EVP Evan Goldberg of Oracle NetSuite, upper left, touts ERP successes among fast-growing companies at SuiteWorld in Las Vegas
Caption: EVP Evan Goldberg of Oracle NetSuite, upper left, touts ERP successes among fast-growing companies at SuiteWorld in Las Vegas

At its recent SuiteWorld event in Las Vegas, the vendor introduced SuiteBanking for AP/AR automation, cash management as well as invoice processing to strengthen cash position of its customers. By leveraging the Oracle Analytics Cloud, NetSuite introduced NetSuite Analytics Warehouse for embedded decision-support capabilities for midmarket companies increasingly demanding intuitive big data and business intelligence tools to help them spot trends and execute financial and operational decisions.

Additionally, NetSuite is adding Insight from Customer 360 to create a new kind of Customer Data Platform that aims to capture and create unified customer data records across different touch points from email to text.

The bevy of announcements were made before a crowd of thousands of attendees at one of the largest software industry gatherings since March 2020. While NetSuite executives readily acknowledged that the pandemic has dealt a blow to some of its customers in retail and travel, the three-day event at the new Caesars Forum with an open air design(conference rooms with retractable garage doors to let in sunlight, for example) highlighted customers that were agile, tenacious and resilient enough to deploy smart tools quickly to help them navigate the global crisis.

Evan Goldberg, executive vice president of NetSuite, says companies such as Modsy and Lovesac are thriving because of their diverse business models and revenue streams, while running NetSuite ERP systems to accommodate their growth potential by creating and nurturing a data-obsessed culture.

Tom Altman, CTO of Clickstop, a diversified company in Urbana, Iowa, and one of the early adopters of NetSuite Analytics Warehouse, embodies the need to harness metrics and insights into the daily activities of a multi-brand conglomerate that sells everything from pepper seeds and fasteners to transportation and laundry services as it reaches $70 million in revenues in 2021, up from $4 million in 2009.

After running NetSuite OneWorld for 12 years, Clickstop now can download all its historical data once a day and create dashboards and custom reports instantly, rendering obsolete the manual tasks that previously would have taken weeks or months. “The speed is just phenomenal,’’ Altman said, adding that it plans to expand the rollout of NetSuite Analytics Warehouse from 50 current users to 130 users to help his colleagues boost visibility into market opportunities that would not have been apparent without such data warehousing capabilities, which will ultimately change the way it does business.

“We are going to see a lot of quick decisions being made for category assortment,’’ Altman said, adding that the combination of NetSuite Analytics Warehouse and Google Analytics that it relies on Internet traffic could be a game-changer.”

Another example of thriving on chaos is Mann Lake of Hackensack, MN, a 700-person company that sells beekeeping equipment and supplies. Shana Rowlette, its CFO, said her company typically does well during a recession and the pandemic has magnified that by encouraging homebodies to set their sights on new hobbies from honey harvesting to soap making. “Everybody wants our stuff,’’ Rowlett said.

In 2020, Rowlett and her team started implementing NetSuite over a four-month period, a task that was fraught with challenges. Still, the results have been nothing but spectacular as Mann Lake employees now can access customer and financial data on a real-time basis. “It has been a big improvement for sales and manufacturing, which was all done on paper in the past,’’ Rowlett said.

Offering a mix of imported and domestic products through seven facilities in six states, Mann Lake now sets its sights even higher by leveraging advanced inventory management functionality from NetSuite to address bigger problems like keeping the right product at the right location to mitigate soaring freight costs. Bulking up its warehouse management and eCommerce capabilities will be next as Mann Lake plans to increase its IT spend by 25% over the next 12 months.

The optimism is not lost among ERP vendors like Oracle these days as NetSuite continues to chalk up double-digit sales gains every quarter more than doubling its installed base of ERP customers to 27,000, up from 11,000 five years earlier when it was acquired by Oracle.

Goldberg attributes the success to its relentless focus on the SMB market that has given rise to a flood of high-growth companies that are as demanding as large enterprises when it comes to automation. Over 150 NetSuite customers including Duolingo, On24, Roblox, Olaplex and ThredUp have recently gone public.

Its ever-increasing integration into the Oracle stack has also made it easier for NetSuite to stand out. Senior Vice President Ryan Grisso of NetSuite cites allowing its customers to schedule when they want to shift to Oracle Cloud Infrastructure for better performance at the time of their choosing as another reason why its customers can easily take advantage of the Oracle Cloud.

Faced with an onslaught of competitors in the midmarket from Intuit on the low-end to open-source ERP providers like Odoo, NetSuite appears to be taking a page out of Oracle Fusion Cloud ERP’s playbook as it becomes more feature-rich than ever by packing in additional capabilities such as Core HR, 401K calculation in payroll, intelligent product recommendation, budgeting and planning, and warehouse management, etc.

Already, NetSuite customers process $3 billion worth of annual payroll through SuitePeople and 1,200 customers now run warehouse management applications through their NetSuite ERP systems.

Jason Maynard, senior vice president of global field operations at NetSuite, said the key is to strike the right balance between delivering all these new features and pricing them effectively in order to resonate with the biggest possible audience that is also consuming them from the first course to the last. If the fast-growing companies showcased during SuiteWorld were the leading indicators, suffice to say that NetSuite has done a good job satisfying their suite tooth.

List of Oracle NetSuite Customers

Customer Industry Empl. Revenue Country Vendor New Product
10X Genomics, Inc. Life Sciences 700 $250.0M United States Oracle Oracle NetSuite OneWorld
Actian Professional Services 400 $138.0M United States Oracle Oracle NetSuite OneWorld
Advantage Trim & Lumber Company, Inc. Manufacturing 160 $30.0M United States Oracle Oracle NetSuite OneWorld
Aprimo Professional Services 500 $89.0M United States Oracle Oracle NetSuite OneWorld
Bailey International Manufacturing 165 $55.0M United States Oracle Oracle NetSuite OneWorld
Bandwidth.com Communications 960 $343.0M United States Oracle Oracle NetSuite OneWorld
Cayan, LLC Communications 350 $70.0M United States Oracle Oracle NetSuite OneWorld
Cazoo Limited Professional Services 700 $130.0M United Kingdom Oracle Oracle NetSuite OneWorld
Crawford Technologies Professional Services 120 $22.0M United States Oracle Oracle NetSuite OneWorld
Duolingo Professional Services 400 $161.7M United States Oracle Oracle NetSuite OneWorld
Digi International Professional Services 656 $279.0M United States Oracle Oracle NetSuite OneWorld
EPE USA Consumer Packaged Goods 100 $15.0M United States Oracle Oracle NetSuite OneWorld
Episerver Professional Services 830 $100.0M United States Oracle Oracle NetSuite OneWorld
Erus Energy Utilities 240 $30.0M United States Oracle Oracle NetSuite OneWorld
erwin, Inc. Professional Services 390 $35.0M United States Oracle Oracle NetSuite OneWorld
Fashion Nova Retail 800 $100.0M United States Oracle Oracle NetSuite OneWorld
FashionValet Sdn. Bhd. Retail 200 $10.0M Malaysia Oracle Oracle NetSuite OneWorld
GAIN Credit Professional Services 400 $70.0M United States Oracle Oracle NetSuite OneWorld
Gainsight Professional Services 900 $100.0M United States Oracle Oracle NetSuite OneWorld
Graze Retail 500 $82.0M United Kingdom Oracle Oracle NetSuite OneWorld
Hoosier Crane Service Company Manufacturing 100 $10.0M United States Oracle Oracle NetSuite OneWorld
Identive Group Manufacturing 300 $83.0M United States Oracle Oracle NetSuite OneWorld
Idexcel Technologies Media 800 $100.0M United States Oracle Oracle NetSuite OneWorld
ION Media Media 415 $480.0M United States Oracle Oracle NetSuite OneWorld
IP Real Estate Investments Pte Ltd Banking and Financial Services 35 $4.0M Singapore Oracle Oracle NetSuite OneWorld
Kiva Microfunds Non Profit 450 $30.0M United States Oracle Oracle NetSuite OneWorld
Kixeye Professional Services 400 $60.0M United States Oracle Oracle NetSuite OneWorld
Local Motors Automotive 350 $60.0M United States Oracle Oracle NetSuite OneWorld
Location Labs Consumer Packaged Goods 250 $30.0M United States Oracle Oracle NetSuite OneWorld
LogRhythm Professional Services 670 $126.0M United States Oracle Oracle NetSuite OneWorld
LoJack Corporation Communications 670 $134.0M United States Oracle Oracle NetSuite OneWorld
MCE Services Communications 100 $13.0M United States Oracle Oracle NetSuite OneWorld
McKissock LLC Education 140 $15.0M United States Oracle Oracle NetSuite OneWorld
Morningside Translations Professional Services 86 $10.0M United States Oracle Oracle NetSuite OneWorld
Morris Communications 300 $50.0M Canada Oracle Oracle NetSuite OneWorld
Mosaic Community Services Communications 300 $50.0M United States Oracle Oracle NetSuite OneWorld
Next Insurance Insurance 400 $200.0M United States Oracle Oracle NetSuite OneWorld
Olaplex Consumer Packaged Goods 82 $282.3M United States Oracle Oracle NetSuite OneWorld
ON24, Inc. Professional Services 600 $100.0M United States Oracle Oracle NetSuite OneWorld
NexTag Professional Services 420 $110.0M United States Oracle Oracle NetSuite OneWorld
Open English Professional Services 1200 $250.0M United States Oracle Oracle NetSuite OneWorld
Open Road Brands, LLC. Professional Services 100 $10.0M United States Oracle Oracle NetSuite OneWorld
Pharma Logistics, Ltd Life Sciences 300 $50.0M United States Oracle Oracle NetSuite OneWorld
Roblox Professional Services 960 $923.9M United States Oracle Oracle NetSuite OneWorld
thredUP Retail 1862 $186.0M United States Oracle Oracle NetSuite OneWorld
Philadelphia Flyers Leisure and Hospitality 300 $187.0M United States Oracle Oracle NetSuite OneWorld
AccessData Professional Services 501 $130.0M United States Oracle Oracle Netsuite OpenAir
Aderant Professional Services 600 $90.0M United States Oracle Oracle Netsuite OpenAir
Agenor Technology Limited Professional Services 60 $11.0M United Kingdom Oracle Oracle Netsuite OpenAir
Allvue Systems Professional Services 500 $65.0M United States Oracle Oracle Netsuite OpenAir
Create the Group Professional Services 100 $10.0M United States Oracle Oracle Netsuite OpenAir
Duo Consulting Professional Services 50 $6.0M United States Oracle Oracle Netsuite OpenAir
EBSCO Information Services Professional Services 3250 $2.50B United States Oracle Oracle Netsuite OpenAir
Ernst & Young LLP (Singapore) Professional Services 65000 $15.00B United States Oracle Oracle Netsuite OpenAir
Everge Group LLC Professional Services 200 $25.0M United States Oracle Oracle Netsuite OpenAir
Informatica Professional Services 4700 $125.0M United States Oracle Oracle Netsuite OpenAir
InfrastructureWorks Professional Services 250 $30.0M United States Oracle Oracle Netsuite OpenAir
Intapp, Inc. Professional Services 600 $112.0M United States Oracle Oracle Netsuite OpenAir
Manifest Digital Professional Services 250 $25.0M United States Oracle Oracle Netsuite OpenAir
Multi-Chem Limited Professional Services 656 $356.0M Singapore Oracle Oracle NetSuite SuitePeople
Campus Living Villages Australia Professional Services 1300 $100.0M Australia Oracle Oracle NetSuite SuitePeople Payroll
Instructure Professional Services 1291 $300.0M United States Oracle Oracle NetSuite SuitePeople Payroll
PropLogix LLC Professional Services 250 $30.0M United States Oracle Oracle NetSuite SuitePeople Payroll
Animal UK Retail 250 $30.0M United Kingdom Oracle Oracle NetSuite Commerce
Arsenal FC Media 600 $460.0M United Kingdom Oracle Oracle NetSuite Commerce
boohoo.com Retail 400 $130.0M United Kingdom Oracle Oracle NetSuite Commerce
Cotton Traders Retail 946 $99.0M United Kingdom Oracle Oracle NetSuite Commerce
Emma Bridgewater Retail 350 $100.0M United Kingdom Oracle Oracle NetSuite Commerce
Heal’s Professional Services 200 $20.0M United Kingdom Oracle Oracle NetSuite Commerce
LifeStyleSports.com Retail 800 $110.0M Ireland Oracle Oracle NetSuite Commerce

Source: Apps Run The World, November 2021