NetSuite was recently named a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Midmarket ERP Applications 2017 Vendor Assessment (doc # Doc #US42216017, September 2017).
The assessment was based on an evaluation of 14 of the leading SaaS and cloud-enabled vendors in the market and based on a wide range of criteria, which include: functionality, user interface, ease of use and implementation, scalability, language support, pricing model, financial stability and innovation and investment, among others.
NetSuite, a pioneer in cloud computing and the first cloud ERP company financial stability and innovation and investment, among others, now helps more than 40,000 companies, organizations, and subsidiaries in more than 100 countries transform their business operations and run their mission-critical business processes in the cloud.
Leaders, Major Players and Contenders
The IDC MarketScape placed NetSuite in the Leaders category of the IDC MarketScape. NetSuite was acquired by Oracle in November 2016, however, they are distinct products and the IDC MarketScape evaluated them separately.
The IDC MarketScape cited NetSuite’s breadth of functionality as strengths in its report, noting the solution spans financial management, order management, human resources management and ecommerce. The IDC MarketScape also highlighted NetSuite’s SuiteCloud platform and localization and globalization capabilities, which are attractive to midmarket companies doing business around the globe.
However, it was NetSuite’s single code base that stood out.
“NetSuite holds an edge over its competitors as all ERP modules run on a single database and single code base,” the IDC MarketScape report said. “This is an attribute that few other vendors in the ERP market are currently providing in the cloud. This attribute provides quicker access to data relative to other solutions and easier and relatively seamless updates.”
More and more businesses are turning to cloud ERP. Many midmarket businesses have an advantage over their larger counterparts in that they have not sunk significant investments in legacy on-premise ERP systems and can now take advantage of the agility and scalability of cloud-based systems.
“SaaS and cloud-enabled ERP means ERP systems are no longer just for the large enterprise as small and medium-sized businesses (SMBs) can now run their businesses similar to large enterprises — but with even more efficiencies and less frustration,” the report said.
In particular, digital transformation is helping to drive this shift, the IDC MarketScape notes. Digital transformation is “allowing businesses to transform their decision making, which is enhancing their business outcomes significantly as we enter the digital economy,” according to the report. Among the impacts of digital transformation is a willingness by companies to rethink their technology strategy, including moving beyond legacy ERP and back office systems, the IDC MarketScape suggests.
Additionally, as CFOs move from larger, enterprise organizations to midsized businesses, they want access to integrated, real-time data they have grown accustomed to and quickly become frustrated running a business in spreadsheets. SaaS and cloud-enabled ERP software allow them to do this at their fingertips, because it is an integrated, real-time business system that is always accessible and grows with the business at a fraction of the cost of the enterprise systems.
Notably, NetSuite was also recently named a leader in the Forrester Wave for B2B Commerce Suites for Midsized Organizations.
For more download an excerpt of the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Midmarket ERP Applications 2017 Vendor Assessment.