Oracle NetSuite ERP represents a comprehensive, fully cloud-based solution for managing your business, providing organizations with more efficient operations through the automation of fundamental processes and facilitating real-time visualization of operational and financial business performance.
With a unique and integrated suite of applications dedicated to accounting management, order processing, inventory control, production, supply chain, and warehousing operations, Oracle NetSuite ERP gives companies a clear view of their data and more assertive control over their business activities.
This ERP provides a variety of integrated modules to help organizations manage different operations, including accounting, finance, supply chain, and customer relationship management (CRM), designed to be a comprehensive solution that unifies data and processes on a single platform, facilitating collaboration and improving operational efficiency.
Want to learn more about this comprehensive business software solution to simplify and integrate your company's operational processes, providing greater visibility and control over your operations? Then keep reading this article!
What is Oracle NetSuite ERP?
Oracle NetSuite ERP is a complete enterprise management system that offers an integrated cloud solution. Through unique and integrated applications for managing accounting and inventory, warehouse operations, production, order processing, and supply chain, organizations that use it gain clearer and more comprehensive visibility of their data, as well as better control of their business, enabling them to operate more efficiently.
Furthermore, the tool is also known for offering customization features, allowing companies to adapt the platform to their specific needs. With each Oracle NetSuite update, its settings and customizations migrate seamlessly, without interruption.
We know that growth brings many challenges for companies, but since Oracle NetSuite was born in the cloud, it offers great flexibility and agility, allowing companies to expand their businesses, create branches, and incorporate new models without the system becoming a barrier to growth.
The history of Oracle NetSuite ERP
It all started in 1998 when NetSuite was founded by Evan Goldberg, originally named NetLedger. Evan began his career at Oracle in the late 1980s after graduating with a degree in computer science from Harvard. His dream was always to build software that people would use every day. Before founding NetSuite, Evan worked for 8 years at Oracle Corporation, serving as vice president and participating in important projects to promote greater accessibility to database technology.
About a year after starting at Oracle, he moved to the MacIntosh Group, a new team focused on making database software accessible to users. This group's core belief that powerful systems and sophisticated features should be democratized became NetSuite's mission when Evan and his partners launched the company in 1998.
Evan Goldberg received approximately $125 million in initial financial backing from Larry Ellison, founder and CEO of Oracle Corporation, through Tako Ventures, Ellison's venture capital arm. Other early investors included StarVest Partners, ADP, and UBS PaineWebber.
How did the idea for the NetSuite product come about?
In 1995, Evan left his vice president position at Oracle to launch mBed Software, with the innovative idea of making it easier for ordinary people to create interactive websites. Although the company gained a loyal following, Macromedia's Flash eventually dominated the space. Unfortunately, the company didn't last long, but the lessons learned from the venture were numerous and helped build his next company, NetSuite.
“I learned from that startup that there was a lack of good software to manage growing businesses; at that time you had to use a hodgepodge of different tools. You could use QuickBooks for accounting, Yahoo Stores for sales, and Act! for your CRM, but none of them worked together, and it was difficult to figure out where your company was. I wanted to access software and have a consistent and comprehensive view of what was happening in my business,” Goldberg commented in an interview with GrowthBusiness.co.uk, a leading online portal about entrepreneurship in the United Kingdom.
He saw an opportunity that led him to a conversation with Larry that would change not only Evan's life forever, but also the lives of ambitious entrepreneurs and future NetSuite customers.
NetSuite becomes Oracle
Oracle Corporation acquired NetSuite for approximately US$9.3 billion in November 2016.
Initially, the deal faced intense scrutiny because Oracle's founder, Larry Ellison, owned nearly 40% of NetSuite. This conflict of interest led the boards of both companies to establish independent committees to review the deal from the perspective of independent shareholders.
In early October 2016, Oracle extended the deadline for NetSuite shareholders to bid for their shares to November 4. The deal closed on November 7.
There was a time when the NetSuite solution was licensed by Oracle under the brand name The Oracle Small Business Suite; however, this experience was short-lived and the program was canceled.
For several years, NetSuite has made acquisitions to offer the market an increasingly complete solution. Here are some of the companies that have been acquired:
2008: OpenAir – web-based timesheets and expense reports
2009: QuickArrow – a web-based professional services automation application
2013: Retail Anywhere – retail e-commerce software
2013: TribeHR – human resources software for small and medium-sized businesses
2013: LightCMS – content management software
2014: Venda – retail e-commerce software
2014: eBizNET Solutions – Advanced Warehouse Management
2015: Bronto Software – email service provider
2015: Monexa subscription and recurring payment model
From the earliest days of NetSuite, Evan has focused not only on marketing NetSuite to the market, but also on helping to extend the power of his platform beyond traditional for-profit organizations.
The need for this technology in the non-profit sector became even more evident in the company's early days, when Evan's wife was part of a non-profit organization. NetSuite helped the organization transition from using multiple spreadsheets to NetSuite.
Oracle NetSuite has a comprehensive social impact program that provides technology to charities around the world and allows its employees to contribute their expertise through pro bono work.
O Oracle NetSuite ERP It is considered the first 100% cloud-based software company.
Oracle NetSuite was a pioneer from its inception, being considered the first 100% cloud-based software company, ahead even of... Salesforce.
Key features of Oracle NetSuite ERP
From startups to large enterprises, NetSuite is the leading cloud-based enterprise ERP software solution. Some of the key features of Oracle NetSuite ERP include:
Accounting and Finance Resources
From managing accounts payable and receivable to general and cost accounting, this tool offers a detailed view of your business's financial operations.
Global Business Management
With features that cover multiple currencies, languages, and tax regulations, companies can confidently expand their operations internationally through Oracle NetSuite ERP.
Inventory Management
The tool also provides complete control over inventory across all locations, from product replenishment to optimizing inventory levels and security.
Order Management
With real-time visibility into order status, Oracle NetSuite ERP offers a more agile service, optimizing the order process and strengthening customer relationships.
Supply Chain Management
The tool offers features such as inventory control, demand planning, and order management to optimize processes, which is essential for companies to improve operational efficiency, reduce costs, and meet market demands quickly and effectively.
Warehouse management
In addition, it also offers comprehensive warehouse management features, including wave management, cartoning, cycle planning, real-time inventory updates, and shipping system integrations.
What are the main benefits of Oracle NetSuite ERP?
Oracle NetSuite cloud ERP offers a comprehensive and integrated solution for businesses to manage their operations, improve efficiency, and drive growth. Some of its key benefits include:
Full integration
Oracle NetSuite integrates various business functions, such as accounting, customer relationship management (CRM), supply chain management, and e-commerce, into a single platform, allowing your company to have a holistic, real-time view of all its operations.
Remote and real-time access
Because it's cloud-based, NetSuite offers the ability to access business data and information anytime, anywhere, as long as there's an internet connection.
Process automation
Automating program processes helps improve operational efficiency by reducing reliance on manual processes, potentially leading to increased productivity and fewer errors in your business.
Financial management
Oracle NetSuite ERP offers robust tools for financial management, including accounting, budget control, asset management, and financial reporting, making it easy to track and control company finances. Access financial, operational, and transactional data from across the organization and easily customize dashboards, reports, and analyses to provide a summary overview or a detailed description of business activity.
Customer Relationship Management (CRM)
Oracle NetSuite's CRM functionality allows companies to effectively manage their customer relationships, from lead nurturing to customer support.
Scalability
NetSuite is scalable and can grow along with the company, a particularly beneficial point for growing businesses, as they can expand their operations without needing to change systems.
Data security
Data security is a priority for this software; it offers advanced security measures to protect critical company information.
Customization and flexibility
NetSuite is highly customizable, allowing companies to adapt the platform to their specific needs. This is crucial, as each company has unique processes and requirements.
Advanced reports and analytics
Oracle NetSuite provides powerful data analysis and reporting tools that help enable informed decision-making based on detailed insights.
Compliance
The platform is designed to help companies comply with regulations and legal requirements, providing compliance in areas such as accounting and tax management.
How much does Oracle NetSuite cost?
Software plans can vary depending on company size and customer needs. The tool operates on a subscription model, where companies pay a monthly fee based on the number of users and modules chosen.
This approach allows for greater flexibility, as organizations can tailor their subscription to suit their operational and budgetary needs.
In addition to the subscription fee, it's important to consider additional costs such as implementation, training, and ongoing support. Implementing this ERP system typically involves customizing the platform to meet the company's specific needs, and the associated costs can vary.
For more information on pricing, please contact Active.
How many customers does the Oracle NetSuite ERP has?
By offering comprehensive business management solutions encompassing accounting, sales, finance, and human resources, companies of all sizes adopt Oracle NetSuite to improve and optimize their internal and external processes. Oracle NetSuite has over 40 customer companies worldwide and continues to grow.
The software allows startups, NGOs, fintechs, multinational and multi-Latin companies greater agility in different areas of the business process, making them more competitive in the market and guaranteeing higher revenue value.
Active Cloud Solutions, being the largest partner of the NetSuite ERP system, has supported several companies in their growth with cloud technology. We highlight some important companies that worked with Active for ERP implementation. NetSuite supported the international expansion of Loft , a digital platform that simplifies the buying and selling of real estate. In the words of lead Dárcio Alves, the ERP "meets all the peculiarities of our business, which is complex and eager for innovation."
Empiricus Research , a company specializing in financial content and investment ideas, implemented the Oracle NetSuite ERP system, accelerating its performance and integrating all systems according to its needs in a customized way. Currently, it issues 700 electronic invoices (NFEs) monthly in an automated, dynamic, and integrated manner.
For Humanus , Oracle NetSuite was implemented with the goal of unifying the company's systems. The decision to opt for this system was due to the practicality of cloud-based software.
This ERP system offers the integration of administrative, financial, accounting, and operational processes into a single system, facilitating internal control by users, with tools that present secure and reliable data so that organizations can predict trends or make strategic decisions.
Become one of the success stories with a 100% cloud-based ERP system; count on Activecs for Oracle NetSuite implementation. Speak with a team of experts.!
How Active supports the successful implementation of Oracle NetSuite ERP.
Active is a strategic partner that plays a key role in the implementation process of Oracle NetSuite ERP in companies. With a highly qualified and experienced team, we offer support from the initial planning phase to the execution and continuous optimization of the platform.
We go far beyond simply installing the software; we also offer comprehensive training services to ensure our partners are familiar with and empowered to use all the tool's features efficiently.
With Active as a partner, organizations gain greater confidence that they are investing not just in a system, but in an integrated solution that drives their long-term success.
Our commitment to understanding the unique needs of each client allows us to develop customized solutions, ensuring smooth and effective implementation. Contact us and become an Active partner too.
