NetSuite is a cloud-based enterprise resource planning (ERP) software solution that has gained significant industry penetration in recent years. In this article, we will explore Oracle NetSuite's market share and industry penetration to that of other ERP solutions and discuss the factors that have contributed to its success.
What is an ERP System?
Firstly, it's important to understand what an ERP system is and how it can benefit a business. An ERP system is a comprehensive software solution that integrates and automates various business processes, such as financial management, customer relationship management, supply chain management, and human resources. By centralising and streamlining these processes, an ERP system can help businesses increase efficiency, reduce costs, and improve decision-making.
What ERP Systems are Popular?
There are many different ERP solutions available on the market, and each one has its own unique features and capabilities. Some of the most popular ERP systems include SAP, Oracle, Microsoft Dynamics, and Infor. NetSuite is another popular ERP solution that has gained significant market share in recent years.
How Does Oracle NetSuite Market Share Compare?
So, how does the Oracle Netsuite market share compare to that of other ERP solutions? According to recent research, NetSuite is the third most widely used ERP system in the world, with a market share of around 9.3%. This puts it behind SAP (which has a market share of around 18%) and Oracle (which has a market share of around 13%), but ahead of other popular ERP solutions like Microsoft Dynamics and Infor.
NetSuite Mid-Market Penetration
NetSuite is a well-established and widely-used enterprise resource planning (ERP) platform that serves a diverse range of businesses, including those in the mid-market segment. It is difficult to accurately determine NetSuite's market share in the mid-market segment precisely, as the company does not disclose this information publicly. However, NetSuite is generally considered to be the leading provider of cloud-based ERP solutions and has a strong reputation in the market.
Why is NetSuite Gaining Ground?
One of the factors that has contributed to NetSuite's success is its focus on cloud-based delivery. Unlike traditional ERP systems, which are installed on-premises and require significant IT infrastructure and maintenance, NetSuite is delivered as a cloud-based service. This means that it can be accessed from anywhere with an internet connection, and it is managed and updated by NetSuite rather than by the customer. This can be a significant advantage for businesses, as it reduces the upfront costs and IT burden associated with traditional ERP systems.
NetSuite is The Most Comprehensive Cloud Based ERP
In addition to its cloud-based delivery model, NetSuite also differentiates itself from other ERP solutions with its comprehensive feature set. NetSuite offers a wide range of capabilities, including financial management, supply chain management, customer relationship management, and e-commerce. It also has strong integrations with other popular business software, such as Salesforce and Google G Suite.
The Ideal ERP for Mid-Market Businesses
Another factor that has contributed to NetSuite's success is its focus on the mid-market. While many ERP solutions are primarily geared towards large enterprises, NetSuite has made a strong push to serve the needs of small and medium-sized businesses. This has allowed it to capture a significant portion of the mid-market, which is often overlooked by other ERP vendors.
NetSuite is the world's leading cloud business management software suite, tailored specifically for high-growth and mid-sized businesses. With a market share of 10.13% in the Cloud ERP market, NetSuite competes with top industry players like QuickBooks, Xero, and Square Invoices. This article delves into the competitive landscape, customer base, and industry adoption of NetSuite in the Cloud ERP market.
Customer Base and Industry Adoption
As of 2023, over 20,612 companies worldwide have adopted NetSuite as their ERP tool. Major customers include Ketka, Xerox Corporation, The Cornell Store, Hartford Financial Services, Westinghouse Electric Company, University System of Georgia, Best Buy Co, Inc., Select Medical Holdings Corporation, BayWa R.E., and Al Jabr Holding Company.
Top NetSuite Industries
The top three industry editions available for NetSuite for ERP are NetSuite Wholesale Distribution Edition (5883 companies), NetSuite Manufacturing Edition (3985 companies), and NetSuite Retail and e-Commerce Edition (3840 companies). The majority of NetSuite's customers fall within the company size range of 20-49 employees (5,624 companies), 100-249 employees (5,133 companies), and 50-99 employees (2,613 companies).
Where are NetSuite’s Customers Located?
Geographically, the United States accounts for the largest share of NetSuite customers, with 15,577 companies (67.70%). The United Kingdom and Australia follow, with 1,496 (6.50%) and 1,035 (4.50%) customers, respectively.
Overall, NetSuite has made significant strides in the ERP market in recent years, thanks to its cloud-based delivery model, comprehensive feature set, and focus on the mid-market. While it faces competition from other ERP solutions, its strong market position and growing customer base suggest it will continue to be a major player in the industry.
About PKF Digital
PKF Digital is a leading Australian NetSuite Partner that provides a comprehensive range of professional Services, including NetSuite Implementation and NetSuite Support as well as business consulting and advisory. We offer our expert knowledge and hands-on experience when it comes to choosing, implementing and supporting your NetSuite account.
Our team of NetSuite development experts have also created a range of innovative SuiteApps to further enhance the functionality of NetSuite. These SuiteApps include Cash Flow Plus, Bank Feeds Plus, Billing Automation Plus, and Email Approval Plus. We’ve also created out-of-the-box NetSuite integrations from some of the world’s leading cloud applications including Airwallex, Xero and Google Workspace.
If you are interested in partnering with us, please reach out for an obligation free discussion about your requirements.
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