What NetSuite’s Position as Leader in Gartner’s Magic Quadrant Indicate
In the dynamic landscape of cloud enterprise resource planning (ERP) for product-centric enterprises, Oracle NetSuite has emerged as a leader, securing a prominent position in Gartner’s Magic Quadrant for Cloud ERP for Product-Centric Enterprises.
This evaluation sheds light on the evolving priorities of product-centric organisations and the pivotal role cloud ERP applications play.
Market Trends and Strategic Planning Assumptions
The report underscores key trends, predicting that by 2026, a substantial 35% of product-centric enterprises will achieve high composability in their ERP applications. This aligns with a growing emphasis on process standardisation and agility. Additionally, 30% of enterprises are expected to rely on their ERP applications for environmental, social, and governance (ESG) reporting by 2026.
Defining Cloud ERP for Product-Centric Enterprises
Gartner defines cloud ERP for product-centric enterprises as technology that supports the automation of operational and financial activities in the manufacturing, distribution, delivery, and servicing of goods. Operating under a software as a service (SaaS) licence model, these solutions provide frequent updates, with the vendor assuming responsibility for application support and infrastructure.
Oracle NetSuite’s Leadership Position
Oracle NetSuite stands out as a leader in Gartner’s Magic Quadrant, predominantly catering to midmarket enterprises with a global footprint. Oracle NetSuite exhibits strengths in various areas by targeting the process and discrete manufacturers, focusing on industries like food and beverage, health, beauty, and distributors.
Key Strengths of Oracle NetSuite
Hybrid Business Model Enablement
Oracle NetSuite supports hybrid enterprises with both product-centric and service-centric needs. Its offerings include configure, price, quote (CPQ), self-guided ordering, subscription billing, and adjacent solutions such as CRM, digital commerce, and field service.
Scalability for Midsize Enterprises
Positioned as a highly scalable solution, Oracle NetSuite addresses the needs of lower-midsize enterprises looking to expand rapidly through customer acquisition, global expansion, or new business models.
Leveraging Oracle Infrastructure and Services
NetSuite leverages Oracle’s market-leading infrastructure, utilising resources such as global data centres, database services, integration capabilities, and artificial intelligence/machine learning (AI/ML) capabilities. This provides midsize enterprises with advanced operational resources.
Innovation and Future Focus
Oracle NetSuite’s recent innovations include advancements in supply chain execution and the management of its complexity through advanced analytics. The future areas of innovation are expected to revolve around AI-driven analytics, sustainability capabilities, and further enhancements in supply chain execution.
In a Nutshell
Oracle NetSuite’s position as a leader in Gartner’s Magic Quadrant for Cloud ERP for Product-Centric Enterprises underscores its commitment to providing comprehensive, scalable, and innovative solutions that align with the evolving needs of midsize enterprises across diverse industries. The company’s hybrid business model enablement, scalability, and utilisation of Oracle’s robust infrastructure contribute to its leadership status in this competitive market.
