NetSuite: Where it Started, how it Works, and What Services it Offers

NetSuite: Where it Started, how it Works, and What Services it Offers

If you worked with computers, and technology in the 1990’s, or even in the early 2000s, perhaps everything was done in a wired setting, and software installation (along with any updates) was done onsite or on-premises. Today however, you can get software (as well as its updates), and even store files online, through the “cloud”. While the cloud was initially not seen as the future of software, two visionaries named Larry Ellison and Evan Goldberg launched a company that would eventually become NetSuite, to provide clients with all the best of web-based software. Read on to learn more on where netsuite Australia started, how it works and what services it currently offers.

NetSuite’s Colorful History

Today, netsuite Australia’s cloud enterprise resource planning (ERP) system is hailed for giving companies and organizations all the applications they require to efficiently run their businesses or daily activities efficiently while at the same nurturing growth.

In fact, thousands of organizations and companies of all shapes and sizes across the world run on NetSuite, and harness its wide-reaching capabilities of applications for sales, finance, supply chain, customer relationship management, e-commerce, human resources, professional services and more.

It is also recognised as the first cloud software company in the planet, which Larry Ellison, Evan Goldberg and a few other partners then called NetLedger in 1998, in reference to accounting ledgers.

They actually launched the company above a hair salon in San Mateo, California, of which NetLedger formed the foundations for what the founders envisioned as a unified software which could eventually replace the disconnected software or system that companies then utilised to run their businesses. 

In 2002 NetLedger became NetSuite after the company added applications for customer relationship management and inventory management. The company went through a pace of rapid growth, with annual revenues climbing from $1 million to nearly $1 billion over the next 14 years.

In July 2016, US software giant Oracle announced that it had made an offer to acquire Netsuite for $9.3 billion to eventually support its shift to becoming a cloud software provider. After being reviewed and approved by independent committees, netsuite Australia started operating as a Global Business Unit within Oracle.

Since the acquisition by Oracle, the company continues to grow rapidly, and now it has offices and employees all over the planet.

The Core Features of NetSuite

Although netsuite Australia may be the oldest, it is not the only provider of cloud enterprise resource planning software. Now, what separates this entity from the rest of the cloud solutions? Let’s look at the 5 core features of the company.

The first core feature of netsuite Australia is a Unified View of the Business. This means that the company empowers any firm or organization to run its entire operations from a single platform. 

The company brings together supply chain, manufacturing, human resources, finance, sales and e-commerce in one system, with one database, instead of using different type of software for each of those functions. All the user needs to do is log in and with just a few clicks, they can monitor the status and performance of any aspect of their operations.

The second core feature of netsuite Australia is Native Integrations. This means that all of its applications feed information into, and pull out that, from the central database to guarantee that there is only one source of data or knowledge.

The platform’s “natively integrated” modules all eliminate the need for third-party integrations which may be unable (or unreliable) to support real-time updates. This unique model also allows its users to complete procedures and activities like procure-to-pay, complete order-to-cash and other multi-step processes from a single application with the need to re-enter or export information.

The third core feature of netsuite Australia is that it’s truly Built for the Cloud. As compared to other cloud ERP systems that are actually hosted on hybrid cloud, or on-premises software, this system is a multi-tenant, vendor-managed cloud solution which has endless room for supporting growth.

The fourth core feature of netsuite Australia is its Deep Reporting Capabilities. The humungous amounts of data flowing from departments and operating into the NetSuite platform fuels its truly extensive reporting capabilities. Here, user can easily pull reports on everything and anything they want to understand or measure, thanks to its built-in reporting tools.

The fifth core feature of netsuite Australia is its Built-in Flexibility. It can actually serve a wide array of industries not simply because it has impressive functionality, but also because it can easily adapt to meet the requirements of different businesses and industries. 

NetSuite’s platform can also be customised to accommodate your processes and corporate structure through SuiteCloud apps and tools. So, whether you’re a fledgling startup or a global conglomerate, this system is for you.

Product Overview

There are a lot of products and services that are offered by netsuite Australia today. In fact, the company can easily adapt to meet the needs of diverse businesses and organizations because it has a wide assortment of modules that are dedicated to crucial business functions and processes. 

For example, in financial services netsuite Australia offers financial management, global business management, planning and budgeting and billing.

For operations, netsuite Australia offers inventory management, order management, procurement, warehouse management system, manufacturing and demand planning.

For customer service, netsuite Australia offers Customer Relationship Management (CRM), which presents a 360-degree view of customers, and its sales force automation features help easily manage leads, quotes and sales to hasten the lead-to-cash process.

For e-commerce, netsuite Australia allows retailers, manufacturers and distributors to create amazing omni-channel shopping experiences. The applications offered also allows companies to launch and manage mobile-friendly e-commerce websites with user friendly tools. The result is an enhanced customer experience on the front end, and a seamless, stress-free order flow on the back end, with all payment and customer information directly flowing into the ERP system!

In addition, netsuite Australia also has applications for payroll, human resources, professional services automation and analytics.

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