NetSuite Awarded by Frost & Sullivan for Accelerating Customers' Product Implementation with its Unified Cloud Platform, SuiteSuccess
NetSuite enables customers to react quickly to any industry disruption by helping product-based companies become service-based or hybrid businesses
Based on its recent analysis of the North American cloud enterprise resource planning (ERP) market for manufacturing, Frost & Sullivan recognizes Oracle NetSuite (NetSuite) with the 2020 North American Product Leadership Award for its SuiteSuccess platform. SuiteSuccess has a uniquely outcomes-focused customer engagement approach to cloud ERP implementation and optimization. The company takes its products to market via this platform, which re-engineers the entire way it builds, sells, implements, and continually optimizes its products.
"SuiteSuccess allows NetSuite to scale massively as it simplifies and streamlines the cloud ERP software implementation process and increases business efficiency and flexibility," said Sankara Narayanan Industry Analyst. "The company has designed a SuiteSuccess edition for every vertical; each SuiteSuccess edition has starter, standard, and premium versions for the varying sizes and sophistication levels of the clients. Besides, it has dedicated process flows, KPIs, over 250 pre-built reports, dashboards (preconfigured by role), business intelligence, turnkey setup, and training."
With SuiteSuccess, NetSuite’s customers can go live 60 percent faster and reduce implementation costs by 23 percent. Its customer-centric methodology ensures it stays updated on the latest trends and requirements for additional functionalities such as revenue recognition regulations and other changing accounting standards. To make this happen, NetSuite has hired a vast product development workforce in areas such as analytics, intelligence, and experience. Significantly, its intelligence suite incorporates machine learning (ML) and Artificial Intelligence (AI) engines to deliver prescriptive and predictive capabilities.
NetSuite ERP is technologically structured to be location-agnostic, unlike existing systems that are not structured to support a high transaction environment. NetSuite automates all complex transactions and allows its customers to excel operationally and financially. Importantly, employing this built-in development platform with powerful, easy-to-navigate features and no version lock, every single user can personalize their environment for optimum user experience.
"The company’s agile, intelligent, and phased approach provides customers with numerous options and the flexibility to choose the best-fit capabilities and technologies. Based on the four key pillars of build, engage, consume, and optimize, SuiteSuccess positions NetSuite customers to scale easily, grow quickly, and update their model as their businesses evolve along with market trends," noted Sankara Narayanan. "By helping companies move from older systems to modern solutions, NetSuite is well-positioned to make the most of future growth opportunities."
Each year, Frost & Sullivan presents this award to the company that has developed a product with innovative features and functionality that is gaining rapid market acceptance. The award recognizes the quality of the solution and the customer value enhancements it enables.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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