Breaking News: NetSuite To Be Purchased by Oracle
At SCS Cloud, we're committed to keeping up with the latest advances in cloud-based software. One of our most tried, true, and trusted platforms is NetSuite, a business software suite that includes CRM (Customer Relationship Management), ERP (Enterprise Resource Planning), PSA (Professional Services Automation), and e-Commerce. As the top software of its kind, NetSuite is highly sought out, which is why we utilize it for many of our clients' projects. Oracle is another high-ranking product, considered one of the best pieces of database management software on the market. In July of this year, Oracle announced its plans to acquire NetSuite, merging these two excellent entities for the benefit of all. Now, as NetSuite's most recent message notified us, this "transition has closed." This marks a major development in the cloud-based business software world. In the following blog, we update you on the most recent NetSuite news.
What is Oracle?
While business software products can work wonders for your company, their exact operations may be difficult to grasp at first. All Things Oracle explains: "a database is an organized collection of data….[and] a relational database is a database in which the data is organised according to type with the relationships being maintained between the differing types." Basically, as a business, you probably have lots of different collections of data—phone numbers, addresses, past purchases, customer preferences, etc. A relational database incorporates all of these data sets and informs users as to how they work together.
Oracle is "a corporation [that] makes software to create and manage databases," especially relational database management systems. Like NetSuite, Oracle is, in large part, cloud-based, storing information on secure, remote servers. In fact, "today, the Oracle database is, by most metrics, the most popular in the world," attaining the same status as NetSuite has in its field.
Why Join Forces?
Since both companies are in their prime, NetSuite and Oracle have a lot to gain from each other. In addition, as NetSuite's latest message on the subject explains, "NetSuite is already built on Oracle technologies," so they are a sort of sister software. Indeed, in NetSuite's July press release on the subject, Mark Hurd, its Chief Executive Officer, commented: "Oracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever." It simply makes sense for NetSuite and Oracle to team up.
Oracle also has a lot to offer NetSuite, as noted in NetSuite's most recent message on the topic: "this transaction accelerates NetSuite's mission of helping our customers succeed. Gaining access to Oracle's tremendous resources and powerful technology stack makes this combination a winner for our customers." Oracle is a large, successful corporation with abundant assets and abilities, which will undoubtedly help it improve NetSuite and, in turn, bolster the businesses that use this software.
What's Next for NetSuite
NetSuite eagerly anticipates the expansion to come with Oracle. As the company notes in its message, "Oracle is committed to protecting and enhancing customer investments in NetSuite solutions and Oracle plans to invest heavily in… [NetSuite] products…Oracle intends to utilize its broad footprint of complementary and leading cloud…capabilities to help NetSuite's customers grow their businesses." Oracle offers important infrastructure to NetSuite and is dedicated to further improving the business software suite's quality of service to customers.
Based on a July Bloomberg Technology article, the outlook for this new purchase is positive. In their article, "Oracle Purchase of NetSuite Will Help It Vie With Cloud Rivals," Jing Cao and Brian Womack asserted: "the industry is ripe for deals." They also highlighted the deal's "inherent logic," since NetSuite " 'is really pioneering cloud'" and "the relationship between Oracle and NetSuite goes back decades." Cao and Womack cite stock market activity as evidence of the deal's triumph: "NetSuite's shares surged 9.1 percent…amid rumors of an agreement," and, once the transaction became clearer, "NetSuite shares surged 18.1 percent."
Shareholders, clients, and NetSuite itself are optimistic that this acquisition will accelerate the software's success and make it even more productive for clients. NetSuite assures its users: "as we work with Oracle, we are 100 percent committed to keeping NetSuite innovative and nimble, with our top priority to ensure a seamless experience for all of our clients and partners." All signs point to an even stronger, more streamlined software from NetSuite, reaching more and more businesses every day with the support of Oracle.
Using NetSuite's Newfound Power
The team of specialists at SCS Cloud has been working with NetSuite for many years. We are extremely familiar with this software suite, as well as the workings of Oracle, so we are uniquely equipped to help you make the most of NetSuite in this exciting period. Our experts would be delighted to create a custom solution in NetSuite, tailored to your business's particular needs. We can also train you on NetSuite updates, consult with your company, and assist with implementation.
Stay Up to Date with SCS Cloud
We can help you remain current with the most recent updates from NetSuite so you can grow your enterprise with this business software suite. To learn more about our services or schedule a free consultation, contact SCS Cloud today.