Oracle publicizes extra “refined” platform and needs to draw SMEs that search digitalization
- September 30, 2022
- No Comment
New features will be added to NetSuite, dedicated to small and medium businesses; news were announced at the company’s annual event
With an eye on the potential market for small and medium-sized companies (SMEs), which boils down to something like 90% of the world’s enterprises, the software giant and enterprise cloud management platform Oracle launches this Wednesday (28) new features in its main business management software dedicated to small businesses: NetSuite.
THE Oracle NetSuite, today the company’s arm that targets small and medium-sized enterprises, serves a portfolio of 32,000 customers around the world. In short, smaller companies in search of more agile and intelligent solutions to deal with the management bureaucracies common to the operational day, starting with the complexity in the management of the workforce.
To address these and other pains, the company launched four new features in order to help companies that are designing their first steps by testing primary products or already in more mature stages, but that need to automate some processes – a glaring demand after the pandemic. All new features will be added to the existing software.
What are the news announced for SMEs
This month, the company launches four new features, now incorporated into its cloud management system. Are they:
- NetSuite CPQfor automatic pricing of products, following rules customized by sales teams;
- NetSuite Ship Centrala tool that helps companies to eliminate processes and costs during the purchase process;
- NetSuite AP Automationwhich controls and automates the management of cash flow and accounts payable, especially payments to suppliers;
- SuitePeople Workforce Managementworkforce management, with time control management, payroll, salary calculations, shift scheduling, among others.
All the features were announced this Wednesday, 28, during the SuiteWorldevent organized by Oracle in Las Vegas, United States.
Simplifying “Accounts Payable”
The entry of banking services into its own business management software (ERP), something done with AP Automation, also marks the beginning of Oracle NetSuite’s partnership with HSBCprovider of resources, in a “banking as a service” model.
The proposal is to automate the entire process, from data analysis to processing and reconciliation — a manual and time-consuming process of checking cash values based on financial transactions made by the company. In addition, users will also be able to choose the best payment method to suppliers and receive discounts for early payments made with the bank’s virtual cards.
“Accounts payable play an important role in helping organizations manage cash flow, control costs and maintain strong supplier relationships, but all too often the process is slow, tedious and error prone,” said Evan Goldberg, Founder and Executive Vice President of Oracle NetSuite.
When will the new features arrive?
Behind the announcements is the desire — and need — of these small companies to meet new market demands, such as accelerated team growth, expansion of logistics and purchasing operations.
In common, all new tools must reach the American market exclusively at first as complementary services to the software already offered by the company. Contributor management functionality, however, is also now available in Canada, Australia and New Zealand.
Oracle also intends to take the releases to Brazil, and should announce news soon. “Our challenge is to reimagine the small business experience,” said Goldberg, founder of NetSuite, in a press conference just hours after the official opening of the event. “The next few years will be very busy for NetSuite in the world and also in Brazil. We are excited,” he says.
What is SuiteWorld
SuiteWorld is the largest organized by Oracle, and takes place annually with the aim of being the meeting point for employees, customers, partners and other companies interested in demystifying how the company’s software works — and possibly becoming a user.
With an eye on greater efficiency, the keynote of the event in 2022 has been to attract potential buyers by example — stories and more success stories from customers already adept at the platform are part of the schedule every year.
For this year, at least 6,000 people are expected, in addition to the nearly 2,000 that are expected to attend the panels also broadcast over the internet.