Why NetSuite isn't bothered about chasing Salesforce or any other competitor

Date:
Thu, 29 Sep 2022 22:47:33 +0000

Description:
Oracle NetSuite has said it has no intention of allowing the behavior of
other vendors to dictate its product strategy.

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Oracle NetSuite is unconcerned about chasing the leaders of the pack in sub-markets like CRM , despite its stake in these areas, the firms GVP of Strategy has said.

In conversation with TechRadar Pro at SuiteWorld 2022 , Jason Cowan answered questions around the companys ability to compete with Salesforce in the CRM market, as well as single-product vendors in other segments covered by its platform.

At the end of the day, the core to Salesforce is CRM and the core to NetSuite is the ERP financials, he told us. I dont think that means we need to chase Salesforce, to create a best-of-breed CRM. We can have a very compelling offering for a lot of industries, without saying we have to win in every market. Greatness in suiteness

Although NetSuite is a powerhouse in the ERP market, it plays second fiddle
to Salesforce in CRM specifically. Equally, Salesforce is fast expanding outwards beyond CRM - into areas like ecommerce , analytics and so forth - in such a way that may have implications for NetSuite.

However, Cowan is confident that, by leaning into its heritage in finance,
its strength in the cloud and relationship with Oracle from an infrastructure perspective, NetSuite will continue to grow its market share.

At SuiteWorld, NetSuite has still been eager to highlight its recent investment in CRM. In particular, the firm launched a new CPQ service
designed to make it simpler to configure, price and quote products to a high degree of accuracy. But the real emphasis is on finance and accounting .

Weve invested in our CRM, with new sales dashboards and additions like CPQ, which is probably one of the largest CRM upgrades weve made. [But our primary focus] is on empowering finance teams by improving visibility and insight
into cash flow, spend and profitability. Read more

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The same message was echoed earlier in the week by James Chisham, VP International Product, who explained that NetSuite couldnt possibly do everything.

We cant be all things to all people. Thats very difficult to achieve, he told TechRadar Pro . If we look at financials as the backbone of what we do for
our customers, building on that is super important. Its about improving those processes, taking away some of the pain and manual effort.

Both executives also suggested that NetSuite derives a significant advantage from the interconnectedness of its product suite, an attribute described by the company as suiteness.

What weve always tried to do is use the power of our suite in a joined up
way. And separately, weve always been happy to have a rich ecosystem of partners that fills any gaps for us, covering off areas we dont cover, added Chisham.

The key to deepening this value proposition, according to Cowan, will be to lean into themes like data visibility, machine learning and UI enhancement in the months ahead. Although he was unable to supply us with specifics, the suggestion was that NetSuite has a few tricks up its sleeve yet. Our list of the best invoicing software available



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Link to news story: https://www.techradar.com/news/why-netsuite-isnt-bothered-about-chasing-salesf orce-or-any-other-competitor/


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