The buying process for ERP software should include familiarity with how specific platforms are ranked by industry gurus.
For example, Gartner and IDC, a global technology research firm, places Netsuite among the top ten “highest growth financial” companies; this, because their revenues are robust: 25% growth over the past two years. The single-source data management system reflects the success of Netsuite’s public offering back in 2007, while enjoying the status of the second-largest public SaaS (software as a service) company.
That bodes well for small to medium-size businesses looking at Netsuite as a powerful business process tool for a manufacturing, or distribution, company.
Common reasons for SMBs to seek out a top-performing ERP platform are not resigned just to the manufacturing sector. According to Netsuite, they include:
- “Incomplete business view
- Business complexity and inefficiency
- Lack of timely, necessary information
- Cost of business out of control”
Ideal for handing a company’s entire back office operations, Netsuite ERP automates numerous tasks within finance, HR, inventory control, sales orders, shipping and billing.
Companies with global markets understand the importance of quick currency conversions, and the ability to perform multinational accounting tasks seamlessly. This may be one of many reasons why Gartner shows Netsuite among the top ERP vendors worldwide from 2012 to 2013. The criteria for such rankings, as noted in a Forbes overview, include:
“...cloud-based vendors who have a rapid development and delivery approach to new feature enhancements and major new releases. ... can also scale quickly to changing business model shifts with their customers, are elastic in how their pricing and resource allocation models work, and must deliver value to keep their subscription revenue streams growing.”