Oracle acquired NetSuite in November 2016 and since then has signaled it's keen to expand the cloud financial software business' reach across the EMEA region.
Oracle NetSuite launched its ‘Next Ready Business Tour' event in Chicago this year, and the London edition, held at Westminster's Park Plaza hotel this week, saw NetSuite senior director David Turner take to the stage to espouse the benefits of Oracle and NetSuite joining forces.
According to Turner, Oracle's acquisition has opened up enough resources to NetSuite to allow it to expand into further countries and industries in Europe.
"We're here to talk about the market and how you grow your organisation, how you help your customers and other things with people," Turner said. "Whether you're a startup, a ‘scaler' or a multi-national organisation, you all have really exciting opportunities today."
Turner went on to say that the main challenge for EMEA customers is the existence of silos within their organisations, and not being able to get a handle on their data in real-time.
To address this, the newly acquired company launched a selection of product enhancements specifically for businesses within the EMEA region.
EMEA customers were presented with more features for NetSuite OneWorld, a unified global business management platform designed to allow businesses to gain more control over their finances.
NetSuite has delivered capabilities such as inter-company journal entries, cross-book reporting, GL audit numbering in searches and reports and more features to improve auditability within organisations.
"You capture everything that happens in your business or within a single unified system, all in real-time, all within a single database," Turner said. "It's pretty powerful stuff and to be honest no one else has really achieved it, we know they haven't."
Additionally, NetSuite OneWorld was also revamped to include a variety of additions to its bank reconciliation and transaction-matching capabilities, with a more modern user experience in mind.
NetSuite also plans to open six new data centres in EMEA, starting from next year, to better serve its customers in the region.
It's expected to begin with a new site in Germany within the coming year. The other new sites will be additions to the two EMEA-based data centres the company already operates in Amsterdam and Ireland.
SuiteSuccess UK & Ireland
Lastly, Oracle NetSuite has made its customer success programme - called SuiteSuccess - for Financials First and Wholesale Distribution available in the UK and Ireland.
Financials First provides organisations access to pre-defined roles, KPIs, dashboards and workflows suited to their finance departments.
Senior director of strategic initiatives, Katrina Horton, described this as: "A financial stairway to engage with customers in order to boost consumption from customers."
The aim is to provide customers with leading industry practices, pre-built KPIs and dashboards and a path to cloud in no more than 100 days.
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