Software giant Oracle is learning how to 'sit on the ground'. After successfully handling large enterprise customers, NetSuite began to focus on expanding into small and medium-sized enterprise customers and finding the next growth point. NetSuite became a trump card for exploring the market.
At the SuiteWorld2019 conference held in Las Vegas, USA from April 1st to 4th, Oracle NetSuite announced a series of innovations, including further optimization of the industry cloud solution SuiteSuccess, particularly the launch of the small business version of SuiteSuccess specifically targeting the small and micro markets, as well as the launch of a new partner program, SuiteLife.
For NetSuite, which is accelerating its global expansion, the Chinese small and medium-sized ERP (Enterprise Resource Planning) market will be an important stop in its layout. Pan Jiejun, vice president of Oracle Corporation and general manager of application software in China, told 21CBR that "next year's priority will be SuiteSuccess". At the same time, from the perspective of customer growth, NetSuite China is expected to rank second in the global market, that is, the fastest growing region outside the United States.
On the second day of the SuiteWorld 2019 conference, Oracle CEO Mark Hurd, who was not originally on the guest list on the agenda, appeared at the venue as a personal platform for NetSuite. At last year's SuiteWorld conference, he only participated in the form of a video conference. Markhead stated that Oracle will continue to support NetSuite's expansion in the global market and will increase its investment in applications and databases in the coming years.
NetSuite is the world's leading cloud ERP provider, mainly providing a series of cloud based applications, including cloud finance/enterprise resource planning (ERP), human resources, professional service automation and omni channel Commercial software.
At the end of 2016, Oracle completed its acquisition of NetSuite for $9.3 billion, and now it seems that this is a quite satisfactory deal. Oracle, which has always served "high-end" customers, has been able to acquire a large number of small and medium-sized enterprise customers through NetSuite, thus forming a complete customer loop. At the beginning of the acquisition, Oracle CEO Mark Hurd mentioned that "Oracle and NetSuite have complementary cloud applications that can coexist forever in the market
For NetSuite, it can leverage Oracle's R&D resources and sales system for global expansion, transitioning from a growth model for startups to a systematic operation for mature companies. After just over two years of acquisition, NetSuite has served over 16000 customers in a total of 212 countries and regions worldwide, with an astonishing growth rate.
Deeply tapping into small business customers
Under the joint efforts of strong powers, it is the ambition to deeply expand the global cloud market for small and medium-sized enterprises with a differentiated strategy. The pace of expansion in the Chinese market cannot be ignored. In 2017, NetSuite officially entered the Chinese market, with over 600 customers in the region and a customer renewal rate of over 85%. It is worth mentioning that as of the end of June 2018, the number of small and medium-sized enterprises in China has exceeded 32 million, exceeding