Businesses large and small are moving towards the Cloud as more and more information and processes demand speed and accuracy. Enterprises are looking to take advantage of the many potentials of the Cloud as developers try to keep up with rapidly changing trends and needs in the international business marketing arena. For many, the Cloud is the next frontier of information communications and technology.
On the other hand, enterprise resource planning (ERP) has been around even before Y2K. While previously viewed as a promising venture, the implementation of the ERP systems over a decade ago did not result in the successful rollouts businesses expected. Thanks to the Cloud, however, ERP is getting a makeover.
Forrester Research surveys reveal that businesses with existing ERPs are not the only ones planning to upgrade their systems. Within the year, one out of four businesses intends to revamp or implement an ERP solution. Global operations and continuous growth are pushing SMBs and enterprises to relegate business processes to third party vendors using software-as-a-service (SaaS) solutions, many involving cloud computing.
This is hardly surprising not only because cloud computing is speedily catching on as more than just a buzzword but also because of the evolving nature of business and software strategies. Software meant to address specific task-based problems no longer sound efficient in an operation that is globalized and digitized. Recognizing the need for an expansive capacity for file storage while staying on top of computing speed, many enterprises are turning to solutions off the ground and into the Cloud.
The top provider of cloud-based ERP and financial software is NetSuite. The company, which was founded in 1998 and is based in Silicon Valley, provides SaaS specific to business and enterprise management requirements. NetSuite offers one system that integrates ERP/financials, ecommerce, and CRM, among others. The idea is to offer ERP solutions without the cost and complications of an on-site setup and too many software systems in place.
NetSuite Chief Executive Officer (CEO) Zach Nelson explains in a Business Mirror interview that unlike the usual software solution, cloud-based ERP is an all-in-one solution for enterprises. It is a cost-efficient way to match the complex nature of international business marketing these days. For example, NetSuite OneWorld addresses the global nature of business operations. With the promise of a comprehensive solution with faster computing via the Cloud, NetSuite has expanded its work across continents. It was named No. 10 in the list of the fastest growing financial management system (FMS) companies by Gartner.
While analysts are divided on whether cloud computing is the next frontier, NetSuite believes it is the “next great technology architecture.” Cloud-based solutions are no longer just for large enterprises. NetSuite is also campaigning for small to mid-size companies to value the benefits of file and data backup and management through the Cloud. The company has also recently partnered with CyberSource and SecurePay for their SuitePayments service to Australian businesses.
The growing business of cloud-based ERP/financials has compelled even on-site providers like SAP and Oracle to explore and offer cloud services for enterprises. In this race, however, NetSuite seems to be taking the lead.
