It was another thrilling day at SuiteWorld 2016 in San Jose yesterday with the likes of Zach Nelson, Jim McGeever and Evan Goldberg taking to the stage, along with guests including Imran Khan, the CSO of Snapchat.
Zach Nelson – The Last Computer Architecture
If you would like to watch the presentation, please see the video below and skip to 01:09:00 where everything begins with a fantastic drum display to welcome Zach Nelson.
One the key talking points Zach mentions – Is just how much NetSuite and Partners have grown with over 1000 NetSuite partners as well as 30,000+ companies using NetSuite or one of it’s products, making it the industry leading cloud based ERP solution. A tag line from one of the slides “The cloud has won” is backed up with the fact NetSuite are set to hit $1 Billion run rate, growing from 8th to 6th in terms of the worlds leading financial management systems and being the only one in the top 15 which is truly cloud based.
People Can’t get to the cloud fast enough – Zac Nelson
NetSuite grew in the financial management systems industry in 2015 at a rate of 45%, more than Microsoft (grew 10.6%), Oracle (grew 8.3%) and SAP which shrank by 12%. This is thanks largely in part to how diverse and customisable Netsuite is, but also because of it’s security. Being a cloud based business solution, any safety updates or patches NetSutie release are instantly implemented across the whole system. Offline alternative such as SAP do not offer this and require manual updates. Many systems using SAP still haven’t been updated from a security issue which occurred back in 2013. The main reason for this is the time and resource it takes to do so.
Overall, NetSuite is becoming much more scalable, adapting and evolving to the needs of it’s customers. A large proportion of investment has gone into SuiteCommerce, curently boasting over 11,000 websites which integrates SuiteCommerce and other NetSuite products. Having invested heavily into this, SuiteCommerce now performs faster than Amazon ensuring the purchase process is simple…and most of all FAST.
Along with all the fantastic facts and figures, guests joined Zach on stage to speak about how NetSuite helped their business including – Rob Lloyd the CEO of Hyperloop, Brian Mullins CEO of Daqri and CSO of Snapchat Imran Kahn. A fact not many people knew, Snapchat use NetSuite to deliver over 10 billion videos to it’s 100 million active users on a daily basis.
NetSuite introduces SuiteBilling – If you sell it, NetSuite can bill it
The president of NetSuite Jim McGeever comes on to introduce the release of SuiteBilling which has had the largest number of man hours invested into the development of a new product. SuiteBilling is described as the first and only cloud unified order to billing to revenue solution.
Suitable for any business model, SuiteBilling is able to accommodate the functionality of a range of billing procedures, synchronizing these complicated processes to give an accurate and concise solution. SuiteBilling can accommodate multiple functions independently or as a whole including product based, time and services based, usage and subscription based or any combination of these without any limits.
Some of SuiteBilling features include;
- Order to Revenue – With scalable order management functionality, SuiteBilling can process orders through multiple channels (In store, eCommerce, different countries, eBay etc) and centralise them within a singular system
- Tailored User Experience – Streamlining key workflows to help users complete their business activity efficiently and effectively
- Subscription Management – The ability to manage subscriptions, usage based pricing models and ratings with both simple and advanced features
These are just a handful of features that were mentioned, for more information about SuiteBilling please come back to us soon for an update.
OneWorld 16 Enhanced
Along with the announcement of SuiteBilling, OneWorld 16 is set for enhancements which will provide global enterprises with the agility and flexibility of a start up business.
The business world moves pretty fast and keeping on top of the latest trends, implementing ground breaking plans or just tweaking the process in which the business functions can be a lengthy process for large enterprises. Whereas start ups can change these processes and implement these plans pretty quickly, OneWorld 16 enhancements allows for large enterprises to be as flexible as start ups with features such as;
- Book consolidation and financial reporting – Companies which require multiple sets of audit-able financials across their business can comply with GAAP (generally accepted accounting principles) requirements
- Electronic Invoicing Frameworks – This helps customers create country specific invoices, as well as automate the order to cash process, decreasing the costs associated with manual input processes
- Global vendor management – Allowing multi-company users to manage their global vendor relationships such as credit limits, company information, remove duplicated vendor data, merging records
OneWorld 16 hits the “Suite” spot for multinational companies, for more information about OneWorld 16 please come back to us soon for an update.
Evan Goldberg – To Boldly Go..
Diving straight in, Evan introduces a whole host of new features, the first one being the SuiteApp Markeplace. Every user of NetSuite will have access to a SuiteApps tab, displaying all the SuiteApps made available and being able to view them by most popular, feature SuiteApps, new SuiteApps and highest rated.
Keeping on the SuiteApps topic, users will also be able to drag and drop SuiteApps onto their dashboard for quick access, viewing of key information and to customise their NetSuite experience without any degree of difficulty.
Moving onto SuiteCommerce, Evan brings up some interesting statistics like how on Cyber Monday over 2.45 million orders were placed through SuiteCommerce systems, that’s an increase of 36% from the year before and NetSuite expect to see more of the same, showing SuiteCommerce is growing as an eCommerce platform. As mentioned before, a lot of investment has gone into SuiteCommerce and it’s speed, SuiteCommerce Advanced is now 40% fast than previously for load speed and processing speed.
SuitePayments API was also announced, which is the first pure cloud ERP payment plugin with EMV – Meaning faster, more secure retail payments. SuiteCloud Development Framework will also be released in Q2 of 2016, allowing for team development, custom user interface objects defined in the IDE, dependency management and more.
Some of the other features mentioned in this presentation include;
- NetSuite Advanced Order Management – Intelligent order management figures out the best way to fulfill an order, manage exceptions and analytical information
- Phase out management controls – Allowing products that will soon be discontinued or stock that won’t be replenished to be sold as priority or removing them. For e.g. you sell PC’s but purchase all the parts separately, a certain graphics card is discontinued soon, NetSuite will manage the PC sold and ensure relevant parts are adjusted for reorder
- Landing page & Category management – SuiteCommerce has a much improved drag and drop system, allowing for content to be rearranged and managed with greater ease
- Predictor – Bronto releases Predictor which recommends products based on riles, actions and history, increasing likelihood of purchase for repeat customers. This can then be delivered via email or SMS
- SuiteAnalytics – Release set for Q1 of 2017
What to expect in day 3
With such a busy and action packed day, tomorrow promises to be even better, with industry relevant keynote speakers.
If you can’t make it to SuiteWorld 2016, you can always tune into some of their live stream events;
9:00am – 10:30am (5pm-6:30pm BST time) speakers Evan Goldberg, Founder, CTO and Chairman of the Board for NetSuite and Ron Gill, CFO of NetSuite will be speaking about From Startup to Global Enterprise: Unlocking Your Software Company’s Full Potential.
9:00am – 10:30am (5pm-6:30pm BST time) speakers Jason Maynard, EVP, Strategy & Corporate Development for NetSuite, Gary Wiessinger, EVP, Products for NetSuite and Chris Hering, Director, Vertical Market Lead, AMP for NetSuite will be speaking about Best Outcome: Empowering Your Firm for Excellence Amid Change.
9:00am – 10:30am (5pm-6:30pm BST time) speakers Jim McGeever, President and COO for NetSuite and Paul Farrell, SVP, Product Marketing for NetSuite will be speaking about Building the Future: Delivering Competitive Advantage for the Modern Product Company.
9:00am – 10:30am (5pm-6:30pm BST time) speakers Andy Lloyd, GM, Commerce Products for NetSuite, Branden Jenkins, GM, Global Retail for NetSuite will be speaking about Retailer’s Blueprint for Success: Enabling Great Customer Experiences.
To watch these keynote speakers and live stream the key parts of the event, follow this link to register and keep up to date with the latest from SuiteWorld.