SAN JOSE, California — The biggest announcement in this year’s SuiteWorld is probably the statement of NetSuite Chief Executive Zach Nelson saying that after 18 years, the company he leads is set to become a Billion-dollar company in 2016.
With a vision to deliver enterprise-grade services via the cloud, Nelson attributes most of company’s success to the efforts of its employees worldwide, together with the companies, subsidiaries, and organizations that use its products as expressed in his keynote to delegates on the first day.
“Every type of company in the world is using Netsuite…and we’re very excited about that,” said Nelson. “The cloud has completely won. And my argument is, that is has won in every industry and will continue to win in every industry.”
Early this year, Netsuite was ranked as the No. 1 Cloud ERP vendor by research firm Gartner, and with a market share growing 45% in 2015, compared to its closest competitors having only single digit growth, except for Microsoft with 10.6 percent. Still, far from what the San Mateo-based ERP company achieved.
“Clearly (NetSuite) is the most widely used business system in the cloud in the world today.” said Nelson as he continue his keynote. “We will hit a billion dollar revenue this year.”
New products
At this year’s SuiteWorld, which happened at the San Jose Convention Center, one of the major announcements was SuiteBilling, a new product that recognizes the complex processes from order to billing to revenue recognition all within one system since it’s built natively into NetSuite’s core ERP system.
Another announcement was the release of a host of new product enhancements to NetSuite OneWorld, a cloud-based ERP system designed for enterprises to meet complex industry, regulatory and tax requirements at global scale. With OneWorld 16, the new release “further helps global companies increase operational efficiency, streamline financial reporting, deepen local and global compliance, localize business processes and deliver peace of mind for CFOs, controllers and finance users”.
“The robust functionality and flexibility of NetSuite OneWorld makes it the last ERP system you’ll ever need,” said Zach Nelson, NetSuite chief executive. “Whether they’re a fast-growing start-up or a multinational enterprise, NetSuite continues to meet customer demands with features that enable them to confidently expand into new markets, launch new products or services and adapt to customer and market demands with a unified and agile cloud-based platform.”
Further, Netsuite added new capabilities on the company’s Order Management application, which they said is one of the most widely used cloud-based, order management solutions in the world. With Intelligent Order Management, Netsuite provided intelligent omnichannel order allocation so merchants can automate how to best fulfill orders based on their inventory availability and the configurable business rules they establish inside the ERP system.
‘Most widely used business system’
When Nelson proclaimed that “every type of company in the world is using Netsuite…(and it’s the) most widely used business system in the cloud today”, the company co-founder’s pronouncement holds water.
Companies such as Boston Globe Media Partners, the parent company of Boston Globe; Specialty Bakery, a leading supplier of frozen bakery goods; Sanitary Care Products Asia (Sanicare), a manufacturer of home and facial paper products in the Philippines; that URBAN626, manufacturer of the URB-E compact electric vehicle; Lingerie Company of Australia, a leading luxury lingerie wholesaler and retailer who represents Simone Pérèle and Implicite brands; specialist professional recruitment company PageGroup; finance company SoFi, and Blue Yonder, a leading predictive applications company based in Germany, to name a few, are all NetSuite customers. A variety of companies catering to different markets, globally.
And there seems to be no stopping in terms of diversity.
Only recently, the Japanese subsidiary, NetSuite Co., Ltd., added HobbyLink Japan Inc. to the company’s growing roster. HobbyLink is a distributor of Japanese toys and hobby products to consumers and retail businesses across the globe. The popular online source for anything anime has selected NetSuite OneWorld to support its global expansion plans.
Since its establishment in 1995, HobbyLink Japan, supplies some of the world’s finest hobby kits, figures and toys, to the delight of anime fans all over the world. The online e-commerce website includes a comprehensive selection of Gundam, Sci-Fi, anime and military models, books and supplies from a 4,000-square-meter facility in Tochigi.
For 20 years the toy distributor enjoyed business growth but experienced challenges with its existing on-premise accounting system and numerous spreadsheets that created extensive manual work and were prone to error. The company said that the old system required heavy customization and could only offer basic reporting capabilities. It added that employees had to hand code most of the customer queries and responses, which eventually hampered the company’s ability to manage growth.
“With NetSuite OneWorld, we expect to have clear insights into the business and business performance and I believe that there will be significant productivity improvements as the system will allow us to get near-instant access to business critical information,” said HobbyLink Chief Executive Scott Hards. We believe with NetSuite, we will be able to effectively manage our inventory to keep our stock levels and types at a point where we can execute well on demand and our customer service department can give the most up-to-date information to our customers. HobbyLink’s aim is to continue to supply the world’s finest hobby products and toys to its customers and provide an exceptional customer experience. “
HobbyLink Japan has a catalogue of 125,000 SKUs and actual inventory of 60,000 items that can be ordered online and shipped to customers and collectors around the world with large markets in the US, Australia, the UK, Canada, Spain, Italy, Brazil, Germany, Malaysia and the Philippines. Currently, 30 percent of its sales go through hobby shops and the other 70 percent through the ecommerce site.
“HobbyLink joins the growing number of businesses that see the value of bringing their mission-critical data together in NetSuite,” said Tomoyuki Nakanishi, vice president and general manager Japan for NetSuite. “With the flexibility, agility and scalability of NetSuite’s cloud ERP, these businesses can continue to grow and profit.”
source: interaksyon.com
