Market research firm IDC recently recognized Oracle NetSuite as a leading vendor for point-of-sale software for small and midsize apparel and accessories retailers.
Oracle NetSuite earned the placement on the IDC MarketScape: Worldwide Point-of-Sale Software in Small and Midsize Retail Apparel and Softlines 2018 Vendor Assessment (Doc #US44022018, July 2018), which evaluated seven vendors. The MarketScape looks at how the capabilities of different solutions address retailers’ current needs and vendors’ strategies for resolving customer demands in the next 3-5 years.
The IDC report noted a dramatic shift in the role of POS software — from simply processing transactions to providing comprehensive product, customer and order information that helps advance the customer journey. IDC named Oracle NetSuite a leader because its SuiteCommerce InStore solution is well-equipped for the challenges of omnichannel retail. It unifies in-store retail and ecommerce with cross-channel shopping carts and product lists and visibility into orders started or finished via any channel.
“Oracle NetSuite intends to equip the store associate with the full range of digital capabilities, giving the store associate the information necessary to upsell/cross-sell, access rich product information, have enterprise-wide inventory visibility, and be able to have a 360-degree understanding of the customer,” IDC Retail Insights Research Manager Robert Eastman wrote in the report.
SuiteCommerce InStore is built with features that enhance shopping experiences and maximize sales, like the ability to run on tablets and smartphones for a user-friendly touchscreen experience. It can execute cash or card transactions, returns and exchanges. Even returns can turn into a sales opportunity because the solution can recommend upsells or cross-sells based on customizable rules around location, buying patterns and more.
In addition, SuiteCommerce InStore is natively integrated with Oracle NetSuite’s comprehensive cloud business platform that includes financials, customer relationship management (CRM), ecommerce and inventory and order management. Companies who use the cloud POS software are always on the newest version, with two major releases annually. This model drives results for not only retailers but companies in a variety of industries like wholesale and distribution, manufacturing, financial services, education and software, as IDC noted.
Since product strategy is a major piece of the MarketScape evaluation, IDC highlighted exciting features NetSuite customers will enjoy in years to come.
Oracle NetSuite recently announced Intelligent Cloud Suite, building artificial intelligence (AI) capabilities across the entire NetSuite application footprint, to deliver more strategic insights to users, enhanced communication with customers and partners, business process automation, and intelligent form filling.
“Oracle NetSuite is in a position to make much more noise in the apparel and softlines retail sector, given the necessary focus and execution,” Eastman wrote.
The IDC MarketScape is based on interviews and surveys with customers, discussions with vendors and the research and expertise of its own market experts.
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