Is NetSuite OneWorld the Top ERP Software on the Market?

NetSuite is a powerful Enterprise Resource Planning (ERP) solution for mid-sized companies and divisions of larger corporations delivered on demand through a Software-as-a-Service (SaaS) business model. As a SaaS solution, NetSuite requires no significant upfront investment by the user, which appeals to the mid-sized market that often lack the funding to implement an on-premises solution. That attractive value proposition and its huge target market have made NetSuite one of the most popular ERP solutions in the world.

NetSuite, originally called NetLedger, was developed by Evan Goldberg and launched in 1998 with funding provided by Larry Ellison, founder and CEO of Oracle Corporation. It is one of only a few start-ups that have taken full advantage of the trendy SaaS business model. The company reported 2009 revenues of $166 million.

NetSuite Functionality

NetSuite offers robust functionality for small-to-medium-sized businesses (SMBs). Solution modules include integrated accounting, customer relationship management, eCommerce, general ledger, accounts payable/receivable, inventory, fulfillment, salesforce automation, customer service, order management, marketing automation, and global solutions for multinational companies. While more expensive solutions offer a more comprehensive module suite, Netsuite delivers every feature most SMBs require.

OneWorld as a Top ERP for an International Business

NetSuite entered the global enterprise market in April 2008, with its introduction of OneWorld, an on-demand solution for the management and financial consolidation of small-to-medium-sized businesses (SMBs). OneWorld features include global accounting, global ecommerce, global resource planning, and global business intelligence. Its functionality provides visibility into all company operations across the enterprise to enable better decision making, reduction in transaction errors, and increased user productivity. Its real time perspective on inventory, shipments, and financial reporting at a global level has fueled its rise to the top of the SMB vertical for ERP vendors.

Using OneWorld, organizations with multiple business units, subsidiaries, or legal forms can be managed through a single NetSuite implementation. It handles multiple currencies, taxation criteria, and compliance reporting requirements. OneWorld users view the application in their native languages and execute transactions in their local currencies while adhering to local tax requirements and financial compliance regulations. While NetSuite is among the leading ERP systems in all categories, with the introduction of the OneWorld modules, it has become the top solution for international SMBs.

But is NetSuite the Top ERP Solution?

For all of its successes and its dominant position in the SMB and multinational verticals, NetSuite cannot be considered the top ERP solution by any stretch of the imagination. With more than $12 billion in revenue and its status as the largest enterprise software company in the world, SAP AG undoubtedly holds that position. And the company NetSuite’s largest shareholder, Larry Ellison, founded, Oracle, would have to be ranked second on that list since its purchase of PeopleSoft several years ago.