NetSuite uses the software as a service (SaaS) model: Customers pay a subscription fee to access the technology but are not responsible for any underlying infrastructure or system maintenance, including purchasing and setting up servers, installing software or testing and deploying patches and upgrades. That gives leaders a real-time, 360° view of the business so they can see which processes or departments are exceling and which need a boost. Thanks to that central data source, information from across the system updates in real time and is accessible to authorized users across business functions. All of these modules share a common database.
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Customers can add options including CRM for sales, service and marketing automation, human resources (HR) for personnel records, performance management and payroll, professional services automation (PSA) to plan and track projects and omnichannel commerce for both online and in-store sales. The company’s ERP system manages core functions, including finance and accounting, inventory, orders and procurement. That platform consists of a suite of applications that help companies run their business, understand the performance of their businesses and drive major efficiency gains and cost savings. NetSuite is a software company that has developed a cloud-based business management platform used by more than 28,000 fast-growing organizations across the globe. Organizations of all sizes and across dozens of industries run on NetSuite, harnessing the vast capabilities of its applications for finance, supply chain, customer relationship management (CRM), human resources, professional services, ecommerce and more. Today, NetSuite’s cloud enterprise resource planning (ERP) system gives companies all the applications they need to run their businesses efficiently while nurturing growth. One of them, Oracle co-founder Larry Ellison, convinced entrepreneur Evan Goldberg of the promise of web-based software, leading Goldberg to launch NetLedger, the company that would become NetSuite in 1998. It was certainly not recognized as the future of software.īut a few visionaries saw the benefits and tremendous potential of delivering software over the internet. In the late 1990s, “cloud” was not a word most people associated with technology.
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