Posted by Jason Maynard, EVP of Strategy and Corporate Development
Today was an important day for manufacturers struggling to cope with the pace of modern business while being burdened with legacy, on-premise applications built for last generation’s business problems. We are proud to announce the acquisition of IQity Solutions, a privately-held, cloud-based advanced manufacturing software solution natively built on the NetSuite, the #1 Cloud ERP platform. The addition of iQity brings an immensely talented team, deep domain expertise in process and batch manufacturing, and proven customer success.
It’s a timely move given the momentum we’ve seen with manufacturers moving to the cloud. Certainly the savings in moving from on-premise to the cloud is reason enough to make the switch from outdated systems like SAP and Infor to NetSuite. In the last quarter alone, we saw 17 companies leave SAP behind in favor of NetSuite and we believe that by adding IQity’s capabilities we will continue to liberate even more customers moving forward.
Indeed, there are compelling reasons to update aging, brittle systems beyond the IT savings and the promise of escaping the vicious cycle of software and hardware upgrades and the business upheaval that goes with it. Now, manufacturers are moving to the cloud for the agility it brings. The industrial Internet of Things (IoT) is already upon us and manufacturers need systems that can adapt. What’s more, they need it in a single system, not cobbled together point solutions to address manufacturing-specific needs spanning shop floor and project control, multi-site and multi-division operations and warehousing, demand planning, production engineering, lot and serial control, standard costing, bill of materials and assembly builds. A single solution, built in the cloud gives them the best of both worlds.
Ecommerce is already transforming manufacturing(opens in new tab). Rapidly evolving customer expectations, 3D printing and suppliers, customers and manufacturing partners spread across the world with constant demands for real-time insight into inventory and the supply chain are adding additional pressures. Businesses consumed with maintaining a patchwork of point solutions are in no position to capitalize on the latest trends.
IQity’s success in the marketplace is a testament to their experience and reflects just how flexible the SuiteCloud development platform can be, meeting needs as diverse as Point of Sale, HR and now manufacturing.
With the IQity Advanced Manufacturing SuiteApp natively on the NetSuite platform, we have already armed 40 joint customers with the tools they need to transform their business. These process and batch manufacturers manage their business more profitably from order-to-cash(opens in new tab) through build-to-ship.
We look forward to arming the rest of the world’s manufacturers.
For more details, please see the press release(opens in new tab) we issued today.