Netsuite updates 2020
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Netsuite’s first major release in 2020 will continue its market dominance this year

Published 09/03/2020

Netsuite’s first major release in 2020 will continue its market dominance this year

NetSuite have already announced their first major release of 2020 which is proving to be significant. The volume of feature introductions and depth of functionality improvements is immense, rolling out updates which deliver global functionality across multiple industry sectors. IT’s testament to Oracale’s belief in Netsuite that this release has been varied and comprehensive, giving customers the flexibility and customisation they need.

Whereas other vendors are struggling to prematurely rush their cloud offerings to market, NetSuite have been ahead of the game since 2016. The combination has been immensely successful, and NetSuite continues to be the go to ERP offering in the market, supporting genuine flexibility and scalability, underpinned by Oracle’s OCI.

Growth is being fuelled by both mid-sized and large businesses's "North America ERP Software Market (2019-2025)" report, which came out late last year, has been particularly bullish, citing an expected annual growth rate of 9.3% for the forecast period of 2019 to 2025. It’s a trend we’re seeing borne out at a micro level, where demand for NetSuite Consultants in North America is immensely strong.

Growth is being driven by mid-size companies ranging from $50M to $1B in annual revenue, undergoing digital transformation projects. Most implementations at this scale require 14 to 16 months. For companies larger than $1B, this number increases to 31 to 34 months. During the course of the last few years, organisations have become increasingly aware of just how critical it is to execute digital transformations in an optimum fashion, where the consequences of a botched job can be catastrophic.

Flexibility is key

It’s easy to see why NetSuite is lauded for being one of the most powerful ERP tools on the market. It is infinitely configurable, and as such, meets the needs of most businesses in most sectors, at essentially all stages of scaling. It’s an ideal ERP partner during the course of the business lifecycle.

The added localisation of the NetSuite platform, is creating more and more mandates for NetSuite Consultants across many different sectors, where these mandates are also increasingly substantial and wide-ranging. The customizability of the platform means that NetSuite expertise is highly necessary, from implementation, through to ongoing maintenance.

Increased demand for testers and Talent

Companies are increasingly cognisant of how necessary it is to have deep NetSuite expertise, in order to execute well on digital transformation. Whilst one of the big benefits of NetSuite’s offering is flexibility and configurability, one of the unintended consequences can be the added complexity that comes with implementation. The combination of an inexperienced transformation team and unforeseen complexity can increase the likelihood of one of the biggest digital transformation risks: operational disruption after projects go live. Frustratingly, though for companies, these costs and risks are difficult to predict and mitigate without the proper expertise.

We’re seeing this message get through to C-suite, who are far more wary of completely outsourcing their deployments to an ERP system integrator, VAR, or reseller, than they’ve ever been. Instead, they’ve opted to take active ownership of their transformations. We’re seeing an upfront investment in personnel and change teams who can mitigate the risk as much as possible, which is reflected in the quality and breadth of mandates for NetSuite professionals.

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