On November 7, 2016 Oracle's acquisition of NetSuite became official, bringing together the reach of NetSuite's cloud ERP solutions for small to midsize businesses with the breadth and depth of Oracle's enterprise-grade cloud solutions for the back and front office.
The announcement of the Oracle acquisition of NetSuite was big news last year and many people still have questions about what this development means for current NetSuite users and the future of NetSuite in general. Just a few weeks ago, SuiteWorld attendees were treated to a special guest speaker at both the Partner Kickoff and Executive Keynote: Mark Hurd, CEO of Oracle. Below are a few key points Hurd made about the Oracle and NetSuite relationship, bringing clarity and reassurance to the NetSuite ecosphere.
- The overarching theme of the relationship between Oracle and NetSuite is More, Better, Forever and Hurd underscored, “We will maintain these two products forever.”
- Oracle is committed to increasing the investment in NetSuite research & development, accelerating international expansion, and broadening of the NetSuite offering.
- Oracle will support an increase in verticalization, micro-industry expansion, and investment in special programs such as SuiteSuccess.
- Oracle is planning more coverage for every NetSuite customer in every geography and more best-in-class cloud services for every industry and market.
- NetSuite will enjoy all the benefits of Oracle scale, with none of the encumbrances of Oracle bureaucracy - none of the problems.
Jim McGeever, NetSuite Executive Vice President adds that NetSuite is a global business unit. McGeever emphasizes that being a global business unit means that all sales, service, support, and development is still contained within a single business unit that will continue to report to top NetSuite executives. In other words, “business as usual.”
Hurd concluded his presentation at SuiteWorld’s executive keynote stating, “NetSuite’s best days are ahead of it, not behind it.”
If you have specific questions about how the Oracle acquisition of NetSuite affects you or your organization or would simply like to know more, reach out to The Vested Group today. We would be more than happy to speak with you and explore everything NetSuite can offer your company!