Given the recent acquisition by Oracle, the NetSuite Global Business Unit now has an even greater breadth of resources and greater depth of domain knowledge about the demands of vertical industries and the segments within them. Combining these resources with NetSuite’s 18 years of experience in building a system to run a business from the cloud gives us the opportunity to move quickly to address new industry segments. NetSuite is taking its knowledge of this to pull together leading practices and functionality to address three new industry segments: apparel, footwear and accessory retailers, advertising agencies and college bookstores.
Finding the Right Fit for Fashion, Footwear and Accessory Retailers
NetSuite’s initial foray into vertical sub-segments was the Retail Apparel Edition of our software, which gives fashion retailers not only the foundation of a unified system for customer, order and inventory data, but can lead them on a step-by-step process to the omnichannel approach the modern consumer demands, leveraging not only NetSuite but our rich ecosystem of partners. NetSuite’s close collaboration with these fashion retail customers allows us to better understand the market and offer even more depth of functionality within the segment. With that, we’ve recently expanded the Retail Apparel offerings to meet the needs of footwear and accessories companies, with specific functionality and leading practices including preconfigured reporting, inventory tracking and the ability to leverage the power of social influencers through Instagram hashtags that allow people to post images of how a piece of clothing or accessory looks in the real world, right on a retailer’s website.
A New Platform for a New Age of Advertising
We’re also bringing the same commitment to customer success and years of experience deploying systems to advertising agencies. Over the many implementations we’ve done, we’ve come to understand the need to balance creative culture and the big idea with the everyday concerns of getting paid for what you create. Agency clients, and the brands they represent, need a deeper understanding of how their message is being distributed and consumed around the world through a multitude of mediums. Leveraging the NetSuite solution, agencies can measure media spend, and creative across campaigns and geographies. The agencies of today want to be on the platform of tomorrow -- yesterday. NetSuite for Agencies provides sophisticated tools for measuring project and campaign profitability, resource utilization and cash flow, all within a flexible, scalable system preconfigured for the needs of the modern advertising agency in a consumer-like interface that meets their talent’s needs.
Campus Bookstores Graduating from Textbook Warehouses
We’re now taking the approach to an even smaller segment of the business world, one undergoing wholesale changes – the college bookstore. Once serving as essentially a warehouse of textbooks for a customer base with a four-year lifecycle, today’s college bookstores are wrestling with digital titles across multiple devices, a mobile and internet-savvy customer base and the opportunity to extend customer loyalty beyond graduation through clothing, accessories and more. The NetSuite Campus Store Suite, software built for independent college bookstores, helps these businesses make the transition from bricks and mortar to bricks and clicks. It combines point of sale (POS), textbook management, ecommerce, CRM and inventory management with the financial system that university bookstores need as a new generation of customers comes in their doors expecting their buying process to be seamless experience across multiple channels.
As NetSuite continues to grow and serve a wider and more diverse customer base, expect to see more sub-segments emerge where we leverage our knowledge of the industry, leading practices and functionality to address customer needs.