Oracle NetSuite Named a Leader by Gartner

netsuite-leader-gartner

Gartner has named Oracle NetSuite a ‘Leader’ in its 2018 report, ‘MQ for Cloud Core FMS for Midsize, Large, and Global Enterprises.’

Founded in 1998 as a cloud solution to address the challenges of rapidly growing businesses, Oracle NetSuite is now used by over 40,000 organizations in 199 countries. Known as a pioneer and leader in cloud solutions, this position is also recognized by Gartner in their report. The designation as a ‘Leader’ is based on three key points:

  • NetSuite is one of only three solutions in the ‘Leaders’ quadrant.
  • It is the only ‘Leader’ that works with both large and small companies across all major regions.
  • NetSuite has more customers using financial cloud solutions worldwide than other solutions in the quadrant.

What Does It Mean to Be a ‘Leader’?

Gartner describes ‘Leaders’ as companies that drive the market with their vision for cloud software. These companies develop solutions that help businesses manage and improve their financial processes—such as budgeting, expenses, and revenue. Leaders are prominent in the market and continue to grow due to their strong products, services, and strategies. They work with both large and small businesses, providing extensive functionalities for managing all core financial processes. Additionally, Leaders have successfully implemented their solutions with customers globally and often collaborate with implementation partners to modernize systems for businesses.

Leaders address a broad market by catering to common needs, although specialized vendors may sometimes better meet the requirements of small niches or unique industries.

Oracle NetSuite: Cloud ERP

Oracle NetSuite is one of the 12 solutions in Gartner’s Magic Quadrant and offers a cloud software suite designed from the ground up for the cloud. This means all applications—for finance, accounting, billing, and risk management—are easily accessible via the internet. Additionally, NetSuite supports multinational businesses by facilitating international financial reporting and the consolidation of figures from various locations. NetSuite continuously evolves to support business growth, constantly adding new features to form a complete cloud-based business management suite. Recently, NetSuite implemented over 20 major improvements. With two software updates per year, customers always have immediate access to the latest features and capabilities, without needing to perform updates manually.

Future of Cloud solutions

Demand for cloud solutions for financial systems is expected to keep growing. Gartner predicts: “By 2020, nearly 60 percent of large companies with outdated systems will transition from traditional, on-premises software to cloud solutions.” Furthermore, Gartner states that “by 2025, demand for cloud financial management solutions will account for more than 65 percent of total spending in the financial market.”

Read the full Gartner report here.

Marcel van Es accountmanager netsuite

Marcel van Es

Account Manager NetSuite