How Oracle NetSuite is using the Cloud to help companies work smarter, better, and faster in uncertain business conditions.
Cloud computing’s power has been well documented in the form of business use cases, analyst reviews, media coverage, and other avenues that position the cloud as a software delivery method of choice for companies of all sizes.
By eradicating the need for lengthy on-premises installations, onsite servers, and ongoing program maintenance, the cloud has effectively democratized enterprise software that was previously out of reach for small to midsized companies.
As a leader in the cloud software space, Oracle NetSuite Cloud ERP has put the power of cloud computing into the hands of more than 24,000 companies worldwide. That traction hasn’t gone unnoticed, and it took on a new importance during the global pandemic.
In How Oracle is Empowering Customers with Cloud ERP, CXOtoday.com’s editor Sohini Bagchi shows how Oracle is helping organizations manage through the pandemic—from ensuring effective crisis response to managing supply chain disruptions to helping companies get further along in their digital transformation journeys.
Speaking with Oracle’s senior VP of marketing for SaaS (software as a service), Juergen Lindner, Bagchi says the software vendor has acted like a business partner—and not a technology partner—to its customers through the crisis. “The pandemic has been an educational experience for us,” Lindner told CXOtoday.com, noting that the pandemic forced businesses to start conversations around digital transformation that many had been ignoring.
Linder goes on to discuss how Oracle extended some pieces of functionalities to its customers in order to help them “ride through the crisis,” and that it also elevated its SaaS offerings, helped customers shift their business models, and provided “seamless orchestrations between the configuration of the service and customer experiences and between revenue streams and financial systems and supply chains.”
The strategy appears to be working. In December, Oracle reported better-than-expected quarterly results as its key cloud applications businesses continued to benefit from the shift to remote work. For the second quarter, the software giant’s revenue rose nearly 2% to $9.80 billion while net income increased 5.7% to $2.44 billion.
“Our highly profitable multibillion-dollar Fusion and NetSuite Cloud ERP applications businesses grew revenue 33% and 21%, respectively, in Q2,” Oracle CEO Safra Catz said in a news release. “These two strategic cloud applications businesses are major contributors to Oracle’s increased operating earnings and consistent earnings per share growth.”
Now, Oracle is positioning itself to take even more market share in the cloud ERP segment, Bagchi writes. “In our pursuit to deliver [the] latest technology to our customers,” Linder said, “we keep on unlocking new functionalities for our stable core sectors, and to gain access to newer industries.”
Linder sees growth potential in the higher education sector, for instance, and said that Oracle is also breaking ground in the oil and gas industry.
“We have proven success with 7,300 Cloud ERP customers and 5,000 of these are go-lives,” Linder told CXOtoday.com. “We are the only technology provider in the market right now with a complete suite of services with end-to-end solutions for every line of business.”
