NetSuite Inc. is a world leader in cloud computing business management software suites. NetSuite’s powerful enterprise solutions allow businesses to minimize redundancies and maxime efficiency by combining all core business operations in a single system, merging Enterprise Resource Planning (ERP), Accounting, Customer Relationship Management (CRM), and E-commerce into one powerful platform.
NetSuite became a publicly traded company after its initial public offering of 6.2 million shares on the New York Stock Exchange in December 2007. The company has recently experienced a 30% year-over-year increase, and is generally considered to be a reliable platform for cloud-based enterprise solutions.
At Hara Partners, we are known for the Netsuite-Magento Connector, which connects NetSuite and Magento seamlessly in real-time. While Netsuite is a proven back office application, its integration with Magento can provide businesses with powerful business management portal with state-of-the-art e-commerce features.
The connector also allows products to be managed in either system and dynamically created in the other. Through in-depth knowledge of both systems we can model your business processes in much greater detail than any other solution, and achieve perfect synchronization.
Below you can read all of our blogs related to NetSuite, including news regarding companies that have chosen to use NetSuite for their own purposes. If you are a company that is seeking to utilize one of NetSuite’s products, we strongly encourage you to do so, but we would also like for you to take a look at our NetSuite-Magento Connector. If you read some of our posts below, you can see that there are many benefits that you can reap from the upgrade. Some of the instant benefits include enhanced efficiency in packing and shipping, and the automatic updating of accounts and sales data, which can help save a significant amount of time and staffing work.
Please read some of our blogs below for more information on products such as NetSuite and the NetSuite-Magento Connector.
NetSuite Buys Bronto Software for a Whopping $200 million!
NetSuite buys Bronto – software that allows businesses to concentrate on the features which are key to the company’s success. This means that the company does not have to worry about the technical operation of their IT systems. Bronto is used by brands such as Armani Exchange, and Trek Bikes.
Accepting credit cards through your online store helps increase conversions and allows you to collect payments in real-time. Our Netsuite-Magento Connector offers an all-in-one solution for all of your credit card processing needs. Some of the keynotes in our process include:
Tokenization is the process of replacing sensitive data with unique identification symbols that retain all of the essential information about the data without compromising its security.
Tokenization seeks to minimize the amount of data a business needs to keep on hand, and has become a popular way for small and mid-sized businesses to bolster the security of credit card and e-commerce transactions while minimizing the cost and complexity of compliance with industry standards and government regulations.
In any of our packages, we’ll gladly include tokenization as a cost-saving and data-reducing alternative to some of the other order processing solutions.
Daily Inventory sync to keep stock levels consistent across platforms.
The inventory syncs can be scheduled to meet your business needs. For example, if your warehouse only receives orders during the day and commits inventory to stock during certain times, model this through the NetSuite-Magento Connector. Should your business be active around the clock from different global warehouse locations, update them in real-time across states or continents. You have the flexibility to set any interval of your choosing (daily, hourly, event based etc.).
Real-Time Order Updates
Real-time order updates include all pertinent customer and payment information. An audit trail is kept for every action performed to reduce customer inquiries and facilitate customer service.
Complete Two-Way Functionality
The Netsuite-Magento Connector automatically updates inventory, products, order status, consumer and shipping information. As orders are fulfilled in NetSuite they get updated on Magento and the customer can view and manage these orders with their updated status.
NetSuite has hired former Microsoft marketing executive Fred Studer as the cloud application vendor’s new chief marketing officer.
Studer, who worked at Microsoft for seven years, said in an interview with CRN that one of his priorities will be working with NetSuite’s channel organization and helping partners improve their marketing efforts.
“The channel is extraordinarily important to NetSuite and important to the ecosystem in this space,” Studer said, noting that CEO Zach Nelson specifically asked him about his “channel philosophy” during his interviews. “The channel is one of my top priorities.”
Studer will report directly to CEO Zach Nelson, who has been filling the CMO role for more than a year following the departure of the previous CMO, David Downing, in 2013.
Studer’s appointment comes as NetSuite remains on a rapid growth trajectory, reporting 34 percent year-over-year growth in its third quarter ended Sept. 30 to $143.7 million. Sales for all of 2014 will exceed $550 million and are forecast to surge to between $715 million and $725 million in 2015.
NetSuite has been growing rapidly as it challenges competitors SAP, Sage Software and Microsoft. Studer comes from the latter’s Business Solutions division, whose Dynamics ERP and CRM applications are among NetSuite’s closest competing products.
Studer had been part of the Dynamics team since 2011, initially helping to manage the ERP application product lines (Dynamics AX, GP, NAV and SL) before becoming general manager of the Dynamics CRM products in August 2013. In that post he was responsible for planning and executing the go-to-market strategy for the CRM software.
Before joining the Business Solutions division, Studer was general manager of the U.S. Microsoft Office business. Prior to joining Microsoft, Studer worked at Oracle for 12 years, including holding the post of group vice president of marketing.
In the interview, Studer said one of his key tasks will be documenting and publicizing how NetSuite customers are using the vendor’s applications, not just to run their operations, but also to drive new business.
And he said the channel is a big part of that. “I am absolutely pro-channel and [I] don’t think we have enough partners,” he said, adding that he wants to understand how the company works with existing partners and is recruiting new partners.
Studer said he will work closely with Craig West, NetSuite’s channel chief, to extend NetSuite’s marketing programs to help partners with their own marketing efforts.
“I think we can do a better job of helping our partners tell the NetSuite story to our customers,” he said. “How do we optimize that message?” That includes highlighting both the value that NetSuite’s applications provide, he said, and the value that partners bring to the table.
Studer, who moved from the Bay Area to the Seattle area when he worked for Microsoft, will return to the San Francisco area to work at San Mateo-based NetSuite.
NetSuite Status Definitions – What You Need to Know
During NetSuite development cycles, it’s common for certain individuals to be listed with certain statuses by NetSuite managers or developers. The following statuses are taken from ImagineColorado.org.
Consumer – DD/Delay The individual has been determined by the Early Intervention system to have a developmental delay or by Case Management to have an intellectual disability under the state of Colorado’s definition.
Consumer – Non DD
The individual has been determined to NOT have a developmental delay or intellectual developmental disability according to the Early Intervention system and the state of Colorado’s definition of a developmental disability. Consumer – Eligibility Undetermined As a result of incomplete testing, inconsistent testing, or no testing at all, an individual’s general intellectual functioning cannot be determined to qualify or disqualify that individual for services under Colorado’s definition of a developmental disability. This status will primarily be used for children transitioning from the Early Intervention system to children and adolescent services. Consumer – Terminated from Services An individual has been discharged from services and/or programs at Imagine! for reasons including, but not limited to, transferring to another CCB, moving out of the state, declining services, or passing away. Before inactivating a consumer record, all consumers should be transferred to this status to maintain an accurate real-time count of true enrollment numbers in programs. After all departments complete NetSuite processes for that consumer discharged from services, the Business Office in particular, the consumer record will then be made inactive.
Consumer – Business Office Only This status will be used only by the Business Office for the purpose of reconciling their accounts receivable, completing unique financial transactions, and other activities.
Lead – Web Store Only This status will automatically be assigned to consumer records created by NetSuite for people who make purchases from the Imagine! web store (Imagine! memorabilia). Prospect – Intake This status will be given to consumers who are in the process of applying for a program, or have completed the application process, but are on a wait list to become a participant in that program. Only the ASD and EI programs are operationally ready to utilize this status but it can be expanded to other programs and processes in the future as strategized by departments.
Celigo’s been in the Netsuite game for a while, but there are many reasons to switch over from their NetSuite Connectors if that’s still what you’re using.
Hara Partners’ NetSuite-Magento Connector
We offer 50% off the life-time of your license when you make the switch from Celigo to our Netsuite-Magento Connector. In addition, you can benefit from a lower total cost of ownership by saving 50% every year.
We keep the two systems clean, and back our offer with a 100% Money Back Guarantee in case you’re not satisfied.
More About the Netsuite-Magento Connector
The Hara Partners NetSuite-Magento Connector synchronizes the two systems seamlessly in real-time.
Inventory is kept in sync between Netsuite and Magento
Product information can be managed in either system and dynamically pushed to the other
Orders are sent from Magento to NetSuite in real-time
Shipping information is sent back from NetSuite to Magento after fulfillment
Customers are created in the NetSuite CRM
We also offer daily Inventory Sync to keep stock levels consistent across platforms. The inventory syncs can be scheduled to meet your business needs. For example, if your warehouse only receives orders during the day and commits inventory to stock during certain times, model this through the NetSuite-Magento Connector. Should your business be active around the clock from different global warehouse locations, update them in real-time across states or continents. You have the flexibility to set any interval of your choosing (daily, hourly, event based etc.).
We also allow you to manage your inventory in NetSuite and share full visibility with Magento. The tight link the NetSuite-Magento Connector establishes allows you to aggressively sell against your stock numbers. Whether you sell through multiple channels, including eBay, Amazon and other marketplaces, or you sell wholesale (B2B) and retail (B2C) out of the same inventory, you can configure the NetSuite-Magento Connector to support this logic.
In its recently released Q2 financial results for 2014 NetSuite revenue has gone up by $100m for the quarter. Overall though, the enterprise solutions company reported a net loss of over $23m.
The 2014 Q2 earnings represent a 30% increase over the previous year’s Q2 Netsuite revenue numbers, for a total earning of $131.8m. Net losses however, also increased – by $3m – from the 2013 numbers
NetSuite’s Spending Habits Contribute to Its Q2 Losses
These net losses could be attributed to several factors, chief among them NetSuite’s recent acquisition of Venda. On a conference call, Ronald Gill, NetSuite CFO revealed that the acquisition cost the company more than $50m in a combination of cash and stocks. Other loss sources include a $60m budget applied to sales and marketing.
A significant portion of that sales and marketing expenditure was the company’s SuiteWorld event. In defense of that vast outlay, Gill remarked, “The team did a good job of managing that spend and strong attendance and partnership participation helped offset the cost as well.”
Despite the large net losses, NetSuite offered the big uptick in Netsuite revenues, including a 19% increase in operating cash flow as proof the company is on target.
NetSuite CEO: The Cloud-based Enterprise Solutions We Offer Will Power Us to Reach Our Netsuite Revenue Goals
Zach Nelson, CEO of NetSuite, touted the $100m recurring Netsuite revenue as a “break-out moment”. In his mind the company’s future earnings will be propelled by its central offering which is delivering a complete cloud-based operations solution for businesses of all sizes. In his words, “We are well on our way [to] achieving our goal to be the leading provider of next-generation business systems and to achieve $1bn and beyond in annual revenue,” added Nelson.
Nelson’s predictions aren’t entirely based on prognostication. Other outlets have found that “The Cloud” is powering the healthy second-quarter Netsuite revenues of several companies, including retail giant Amazon.
Enterprise Resource Planning—or ERP—is a business management software that a company can use to collect, store, manage and interpret data from many business activities, including shopping and payment, inventory management, and marketing and sales.
The role of Enterprise Resource Planning (ERP) Implementation in managing business processes has expanded significantly over the past decade from a focus on specific business areas such as manufacturing, procurement, or human resources, to broader use throughout the company. Although IT has traditionally been responsible for specifying and implementing technology within an organization, successful ERP implementations require involvement from stakeholders at all levels, from executives to end users. For many companies, the transition from existing traditional systems to a new ERP one can consume significant corporate resources, including time, expense, and risk to business operations. However, as we’ll explore below, this need not be the case.
But which EPR Implementation is right for your business? When choosing an approach, be sure to consider the cost of taking on a huge project. You have the option of purchasing on-premise ERP software and installing it on your own company’s computers and servers.
Given the range of functions that enterprise resource planning encompasses, it should come as no surprise that there are multiple types of ERP implementations. You can choose to build your own custom ERP and program it from the bottom up, though the cost and complexity of taking on such a huge project can make a do-it-yourself approach a poor one.
A great alternative is a cloud-based ERP solution like NetSuite. The system is cloud-based and managed entirely off site by the ERP provider. This allows for customizations to automatically update with each system upgrade.
Keeping these best practices in mind will help you launch your deployment on the right track. Make sure you research the best ERP Implementation option for your business, and set realistic expectations while giving your staff the support they need. These steps will lead to a more effective ERP experience and a better-run business for the long-term.
Klenzoid is an industrial water treatment company offering programs that substantially reduce energy, water and chemical costs for steam boilers and cooling water systems.
The company recently decided to use Netsuite CRM to develop, customize, and host specific applications. According to Michael Cairns, this decision has allowed Klenzoid to improve their operational efficiencies by more than 40 per cent.
Klenzoid now has live access to customer data, and in a big data world is able to run lots of calculations. This is clearly helping to support the organic growth that Klenzoid is experiencing.
Not stopping there, Klenzoid plans to bring in further data acquisition streamlining to be even quicker in their response to customers.
In the cloud, Klenzoid saw an opportunity to serve their customers more effectively not so much by increasing their field staff but more so by investing in a system customization that would improve the quality and timeliness of the services that they deliver.
The customization of the NetSuite platform has had a huge payoff for both Klenzoid and its customers. As a golden rule of business, Cairns aptly stated, “If you do the right thing – eventually the market will reward you as well.”
Prior to the transition to NetSuite, Cairns describes how there were many different branches of information in Klenzoid, and none talked to the other. Now, with its innovative approaches, the NetSuite system provides information for key decision making; it highlights sales issues, opportunities, from beginning to end; there is one stream of data – from sales, to accounting to data on energy – all on one system.
Klenzoid’s use of NetSuite has also allowed them to optimize their own operations and develop innovations with customers in mind. The new design and capability that comes with NetSuite allows Klenzoid to use customization that forged greater connectivity than had ever been previously possible. As a golden rule of business, Cairns aptly stated, “If you do the right thing – eventually the market will reward you as well.”
In a recent announcement NetSuite Inc. (NYSE: N) revealed that Kii Corporation, a mobile back-end-as-a-service and data synchronization technology company has chosen NetSuite OneWorld to drive its global business growth.
Kii Corp. is a global enterprise business solutions provider, with numerous enterprise- level offerings. The flagship program is the Kii Cloud Mobile Backend, an all-encompassing mBaas for mobile app developers which includes user and data management, in app analytics, ad network integration, and access to strategic distribution partnerships. The technology up-and-comer also offers Kii-to-China – an enhanced facilitator for those looking to enter the Chinese market. And Kii Capital a venture capital fund dedicated to mobile apps.
Kii Corp. began in 2007 as Synclore Corp, a company focused on mobile data synchronization technology. In 2010 Synclore Corp merged with Servo Software and became Kii Corp. Learn more at https://en.kii.com/
NetSuite Inc. is a world leader in cloud computing business management software suites. NetSuite’s powerful enterprise solutions allow businesses to minimize redundancies and maxime efficiency by combining all core business operations in a single system, merging Enterprise Resource Planning (ERP), Accounting, Customer Relationship Management (CRM), and Ecommerce into one powerful platform. NetSuite’s game-changing “real-time dashboard” technology provides an easy-to-use view into up-to-date, role-specific business information. NetSuite OneWorld provides cloud based business management tailored for global enterprise.The company was founded in 1998 and is headquartered in San Mateo, California. Its website is at http://www.netsuite.com.
Innovation, excitement, and all of the latest breakthroughs throughout the NetSuite ERP world, are just a few examples of what you will experience at SuiteWorld 2104. This three day conference will be jammed packed of information and product demos. The industry leaders present set the standard for what leading ERPs systems are today and in the future.
Throughout the three day conference, you can learn from the top professionals in one of the sixteen breakout sessions.
Netsuite CEO of Netsuite Zach Nelson is one of the keynote speakers, and will kick off the conference and introduce you to what great things to expect. At SuiteWorld 2014 you will be getting the information that allows you to keep your competitive edge. You are guaranteed to learn something new that can help propel your business to the next level.
If this is going to be your first time at SuiteWorld then you are sure to be surprised and impressed by the solutions presented. Industry leaders and top professionals from every area of the online world will be at SuiteWorld 2014. And because of this opportunity to meet some of the top dogs that are out there, there is no better event than SuiteWorld 2014 to get your feet wet with the people who have the success that you are aiming for.
Let us know if you’re planning on going to SuiteWorld 2014 and what your expectations are.