Another Step Towards Cloud ERP Domination
Exciting times are on the horizon for NetSuite. With the now completed acquisition of NetSuite by Oracle, the future is indeed looking very bright for those of us who work with, for, or alongside NetSuite. From the very start, NetSuite has been unapologetic about their objective to rule the skies of Cloud Computing for businesses, striving towards a single, cloud-based entity for organisations of all shapes and sizes, and now, it’s really paying off.
Before I skip forward a chapter and assume you are aware of what exactly has been going on, the below excerpt from the press release yesterday should shed a bit more light on some of the details.
"From the moment in 1998 when we created the first cloud company, our vision was to build a next-generation software application designed to run a modern business. On July 28, 2016, Oracle announced that it entered into a definitive agreement to acquire NetSuite. Today, we have exciting news that the transaction has closed.
This transaction accelerates NetSuite’s mission of helping our customers succeed. Gaining access to Oracle’s tremendous resources and powerful technology stack makes this combination a winner for our customers. NetSuite expects to utilise Oracle’s global scale and reach to accelerate the availability of our solutions in more industries and more countries.
Oracle is committed to protecting and enhancing customer investments in NetSuite solutions and Oracle plans to invest heavily in both products - engineering and distribution. In addition, Oracle intends to utilise its broad footprint of complementary and leading cloud SaaS, PaaS, IaaS and DaaS capabilities to help NetSuite’s customers grow their businesses faster and more profitably. NetSuite is already built on Oracle technologies, which will allow us to deliver enhancements together that will benefit all of our customers.
As we work with Oracle, we are 100% committed to keeping NetSuite innovative and nimble, with our top priority to ensure a seamless experience for all of our clients and partners."
This is truly a huge event. Something that will definitely impact the ERP software landscape dramatically. For those of us working with NetSuite, this will definitely be a positive experience.
I want to take a second and address two main scaremongering tactics currently circulating about the acquisition, and possible changes that are coming for NetSuite. Namely, the unfounded rumours that Oracle will hike the prices of NetSuite, and secondly the motive behind the acquisition. I want to tackle both of these points in one sweep here, so stay with me.
Firstly, NetSuite is a strategic acquisition for Oracle. For Oracle to grow and expand into the new markets that they currently aren't a fit for, NetSuite is the perfect option. NetSuite arguably does SaaS/Cloud/ERP far better than anybody else in the market-place, meaning there is a huge opportunity for us all. With the Oracle resources and firepower to draw on, this could be a period of dramatic growth for the NetSuite ecosystem.
Secondly, with the first point in mind, give me one good reason why Oracle would break what is an already huge success in the exact markets they want to break into? A sure-fire way to shoot yourself in the foot with the Small to Midsized market is to hike prices. It's counter-intuitive and would be a crazy move for Oracle to think that this is how to stay lucrative while stepping into these new markets.
Oracle have acquired an already thriving and successful platform that fills the gap perfectly, that has achieved over and above any other in the SaaS Cloud ERP Market. What's more is that Cloud-based platforms are the future. NetSuite is the future. As time moves on, you will find more and more organisations place their infrastructure in the cloud. Oracle want NetSuite to expand their market, and to secure them in a family of products that have a superior infrastructure behind them, to support it for its future expansion.
In my honest opinion, you and your business are now more secure and established, with greater potential than ever by being in the Oracle, NetSuite, family.