Speaking recently at its SuiteWorld 2018 conference in Las Vegas, Mark Hurd, Oracle chief executive, said, “We bought NetSuite to invest in it. We're giving it more features, more micro-verticals. All the things NetSuite wanted to do as a public company but couldn't, we can now do."
Oracle used the SuiteWorld conference to announce the vast globalisation enhancements embedded into the product. Craig Sullivan, global vice-president, Product Management, explained NetSuite is now available in 199 countries and dependent territories - and one NetSuite customer operates in 57 countries alone - and now supports 24 languages.
NetSuite's new global functionality, Sullivan says, includes two-stage payments, inter-company frameworks, AutoCash (reconciling bank payments), period end journal automation, GL matching, and a revised SuiteTax engine that the company states supports any tax rule anywhere in the world while being easy to use for non-accountants.
Evan Goldberg, the founder of NetSuite and executive vice-president of Development, spoke exclusively to iTWire, stating out of all the new things in NetSuite — analytics, artificial intelligence, and others — it’s the globalisation which is his number one ticket item.
“I’m really gratified about all the international capabilities. That’s the biggest focus. Oracle said at the time of the acquisition this is what we can add, here’s where we can add value and I’m seeing that. It’s way beyond what we could have done as an independent company," he said.
"Oracle has brought new powerful capabilities to address the European market, they’ve brought two-stage payments which you really need when you go into Germany … they’ve definitely invested into these internationalisation capabilities with a lot of research. When we actually deliver to customers that’s what I get most excited about.”